PLEASE UPDATE YOUR BROWSER

1 Reason Agency

Insurance and Real Estate

  • About
    • Meet Our Agents
    • Partner Insurance Companies
  • Personal Insurance
    • Car Insurance Quote for Personal Auto
    • Boat Insurance
    • Home Owners Insurance
    • Life Insurance Quotes
    • Motorcycle Insurance
    • Personal Umbrella Insurance
    • Renters Insurance
    • RV Camper Insurance
    • Snowmobile Insurance
  • Business Insurance
    • Commercial Auto Insurance
    • What is General Liability Insurance
    • Rental or Vacant Properties
    • Workers Compensation in Wisconsin
  • Blog
  • Contact
    • Contribute As Guest Author
  • About
    • Meet Our Agents
    • Partner Insurance Companies
  • Personal Insurance
    • Car Insurance Quote for Personal Auto
    • Boat Insurance
    • Home Owners Insurance
    • Life Insurance Quotes
    • Motorcycle Insurance
    • Personal Umbrella Insurance
    • Renters Insurance
    • RV Camper Insurance
    • Snowmobile Insurance
  • Business Insurance
    • Commercial Auto Insurance
    • What is General Liability Insurance
    • Rental or Vacant Properties
    • Workers Compensation in Wisconsin
  • Blog
  • Contact
    • Contribute As Guest Author
Home > Retirement & Estate Planning > Beazley partners with The Risk Authority Stanford to enhance hospital claims data

Beazley partners with The Risk Authority Stanford to enhance hospital claims data

Posted on: October 11, 2017 By: Insurance Updates

New York, Oct. 12, 2017 (GLOBE NEWSWIRE) — Specialist insurer Beazley, a leading underwriter of hospital professional liability insurance, has teamed up with The Risk Authority Stanford (TRA Stanford), a respected provider of healthcare risk management services, to enrich and enhance Beazley’s hospital claims database.

TRA Stanford’s Innovence™ Pulse—software designed by risk managers for risk managers—will be used to identify trends in past claims and generate actionable data in real time to increase patient safety.

“An important part of our value to clients lies in the breadth of our claims experience, backed by the data held on our claims database—one of the insurance industry’s largest,” said Nat Cross, healthcare focus group leader at Beazley. “Through the relationship with The Risk Authority Stanford, we will significantly increase this value.”

Beazley’s claims database currently comprises almost 900,000 unique loss records dating back two decades and representing 42 percent of the hospital beds in the United States. Using anonymized records from the database, Beazley is able to perform benchmarking analyses that are greatly valued by the company’s hospital and health system clients. The data also permits analysis of broader risk-related trends in healthcare, which Beazley has shared with members of the American Society for Healthcare Risk Management over a number of years.

Via an innovative partnership with TRA Stanford, Beazley will use Innovence Pulse software to significantly enrich its data, showing where within hospitals claims events took place and how claims cluster along the continuum of care. TRA’s Stanford Risk Lexicon—in combination with natural language processing and machine learning—will be used to comb hundreds of thousands of unstructured text fields held on the Beazley database and create a far richer picture of claims trends based on the anonymized data.

Jeff Driver, Chief Executive Officer of TRA Stanford and the Chief Risk Officer of Stanford Health Care and Stanford Children’s Health, said: “We are excited by the opportunity to partner with Beazley to help hospitals leverage Silicon Valley innovation to learn from liability claims. Together, we can advance the art and science of risk management for the benefit of patients everywhere.”

BZPR_10_12_17

About Beazley

Beazley plc (BEZ) is the parent company of specialist insurance businesses with operations in Europe, the US, Canada, Latin America, Asia, the Middle East and Australia. Beazley manages six Lloyd’s syndicates and, in 2016, underwrote gross premiums worldwide of $2,195.6 million. All Lloyd’s syndicates are rated A by A.M. Best.

Beazley’s underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd’s.

Beazley is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business.

About The Risk Authority Stanford

TRA Stanford is a healthcare risk management consulting firm dedicated to transforming its clients’ risk management practices with cutting-edge solutions, unrivaled expertise and quantifiable results. TRA Stanford’s origins are rooted within the Stanford University Medical Network, and it continues to provide all risk management services to the institution and its two captive insurance companies. TRA Stanford is an industry leader in the development and implementation of solutions across all dimensions of risk management, including clinical risk management and patient safety, enterprise risk management, risk financing, claims and litigation and workplace safety. For more information, visit www.theriskauthority.com.

Eleanor LewisBeazley Group+44 (0)20 7667 0538eleanor.lewis@beazley.comDeborah KostrounKetchum+1 201 403 8185Deborah.kostroun@ketchumzito.com

Comments

comments

Categories: Retirement & Estate Planning

Categories

  • Bookkeeping
    • Business Taxes
  • Business Marketing
  • Car Insurance
  • Commercial Auto
  • Commercial Insurance
  • Court Cases
  • Cyber Liability Insurance
  • Employment Opportunities
  • Employment Practices
  • Flood Insurance
  • Home Ownership
  • Homeowner's Insurance
  • Insurance Companies
    • Insurance News
  • Insurance Terms
  • Investing
    • Finance & Insurance News
  • Life Insurance
  • Non Emergency Medical Transportation
  • Payroll
  • Pinewood Derby
  • Real Estate News
  • Rental Property Insurance
  • Retirement & Estate Planning
  • RV Insurance
  • Starting A Business
  • Stock Dividends
  • SuiteCRM Insurance CRM
  • Tips & Advice
  • Travel
  • Uncategorized
  • Webhosting
  • Worker's Compensation

Recent Posts

  • Brandywine Realty Trust Announces Common Quarterly Dividend, and Confirms First Quarter 2021 Earnings Release and Conference Call
  • Kite Realty Group Trust Completes the Sale of 15 Ground Leases
  • Whitestone REIT Reports Fourth Quarter and Full Year 2020 Results & Provides COVID-19 Update
  • Ryman Hospitality Properties, Inc. to Present Virtually at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum – Friday, March 12, 2021, at 11:45 a.m. ET
  • New York Mortgage Trust Reports Fourth Quarter and Full Year 2020 Results
  • NorthStar Moving Partners with LC Pool Design + Consultation
  • Landmark Infrastructure Partners LP Reports Fourth Quarter and Full Year Results
  • LGI Homes Continues Expansion in Tampa