Apr 3, 2024
Sandip Chatterjee is the Executive Vice President of Client Management & Innovation at MedRisk, leading the Account Management organization. He also leads the Product & Innovation for MedRisk where he is responsible for the creation of new solutions to drive improved experiences and outcomes for MedRisk Customers and Partners. Prior to joining MedRisk, Sandip was a Managing Director at Marsh McLennan leading the Analytics Delivery Organization for North America. Sandip has 20-plus years of experience in insurance and building and launching disruptive solutions to drive business growth and profitability.
In today’s episode of the In The Know podcast, Chris Hampshire and Sandip discuss analytics, highlight the impact of advanced technology in the insurance space, and offer updates on managed medical in the workers' compensation segment.
Key Takeaways
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Sandip highlights the background of his insurance career.
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The appeal of the data analytics sector of the industry.
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Key data interpretation differentiators between a TPA, broker, and managed medical provider.
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Sandip’s advanced approach to analyzing data.
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The evolution of “Big Data” analytics in the insurance industry in recent years.
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The role of generative AI in using existing data to create new data.
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Strategies for effective partner collaborations that drive better business decisions.
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Sandip reflects on his experience as an analytic expert in the insurance industry.
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Analytics is a powerful tool, but it is only one of many tools available.
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Sandip addresses the talent shortage in the insurance industry.
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A five-year look at potential changes to the data analytics aspect of the insurance industry.
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Sandip shares the advice he would have liked his early insurance industry career self to know.
Quotes
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“Each of these industries within insurance is answering different types of questions.”
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“The data is good, but it only tells you part of the story.”
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“There are more tools and solutions available… and better ways of analyzing the data itself.”
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“It is becoming easier to use existing data to create new data.”
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“There are a lot of different things that are happening in the data world today that are very, very exciting.”
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“Analytics is a very powerful tool, but it is one of many tools.”
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“There is a very strong purpose behind the insurance industry. We are trying to put life back together.”