Predicting disability benefits claim durations and Comparing actual versus expected disability benefits claim durations

The financial implications of time lost from work due to disability can be severe. Disability insurance coverage plans protect people from possible loss of income. We have found factors that predict the duration of disability benefit claims. However, it remains to be seen whether these associations are consistent. Improved understanding of modifiable factors associated with claim duration may help insurers optimize their case management processes to reduce overall claim durations, and facilitate more timely return to work. We will analyze SSQ Financial’s database to determine if similar predictive associations exist. Insurers also need to identify and monitor particularly challenging disability claims. We will facilitate these processes by using SSQ’s database to compare actual disability durations against current guidelines for expected disability durations, and identify those conditions for which a significant proportion of claims exceed guideline-directed recommendations. This could justify building a contingency that would reward claimants for achieving positive outcomes.

Faculty Supervisor:

Dr. Jason Busse

Student:

Sohail Mulla

Partner:

SSQ Financial Group

Discipline:

Medicine

Sector:

Finance, insurance and business

University:

McMaster University