Term Of The Day – Quantitative Claim Auditing
A quantitative claim auditing term of the day. The quantitative claim differs from Qualitative auditing. This is one of the parts of a premium audit that can reveal surprising inaccuracies. Comparing the loss runs to what the NCCI or State Rating Bureau has on file can reveal inaccuracies in the Experience Modification Factor calculations. This is also part of a claims review that only deals with the numbers, not how well the claims were handled.