The Pennsylvania Compensation Rating Bureau (PCRB) has entered into a partnership with Cloverleaf Analytics to establish a unified data platform that utilizes internal and external data, setting a new standard for workers compensation analytics and revolutionizing PCRB’s relationships with its 400-plus members.
PCRB members will gain access to new self-service analytics about claims, loss, and exposure data, enabling members to conduct benchmark comparisons against statewide metrics and the broader national industry. Expanded access to analytical data will assist member carriers in their decision-making and business strategies, subsequently aiding in the stability of a healthy and competitive market.
“This new platform will provide insurers the ability to have analytical data access at their fingertips along with benchmarking capabilities that today do not readily exist in Pennsylvania and Delaware,” says PCRB President and CEO Bill Taylor.
This new data platform is a component of PCRB’s modernization strategy. The platform will be coupled with other internal data quality initiatives, allowing for the development of a modern data warehouse that keeps pace with changing industry needs and facilitating data analytics, forecasting, and benchmarking for members and the entire industry. The Cloverleaf partnership also supports PCRB’s strategic focus on members, technology enablement, and expanded research and outreach.
Read Cloverleaf’s Press Release on the partnership here.