Data Analysis - Insurance (Insurance Brokerage) Industry

Project Type : Litigation (Settlement Phase)

In a case of a US State vs. an insurance broker, a mathematical formula was developed to distribute settlement amount (tens of millions of dollars) among class members based on the amounts of premiums paid by class members and commissions earned by local brokerage offices. Formula was approved by the Attorney General of that state. The consultants analyzed accounting data from dozens of different sources provided by local brokerage offices, many of them using different accounting systems and practices. The consultants designed and carried out a process to consolidate and verify accounting data into a single repository. The expert consultants then provided multiple versions of calculations incorporating last-minute requests from involved parties. The experts supported several stages of distribution.

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