CostCast
CostCast provides an AI-native workers' compensation TPA platform that predicts actual claim costs with greater accuracy than traditional methods. The system ingests historical claims and loss-run data, automatically processing, structuring, and validating the information through a streamlined pipeline. Its predictive engine generates precise reserve estimates, enabling TPAs to unlock trapped capital and lower their excess insurance premiums.
- Insurance Technology
- Artificial Intelligence
- Data & Analytics
- Software Only
Funding
Founders
Founder details are not available yet.
Product
Problem
TPAs managing self-insured workers' comp programs over-reserve by 25-30%, trapping billions in collateral and driving up excess insurance costs. This over-reserving inflates premiums and reduces available capital for legitimate claim needs.
Solution
CostCast provides an AI-native workers' compensation TPA platform that predicts actual claim costs with greater accuracy than traditional methods. The system ingests historical claims and loss-run data, automatically processing, structuring, and validating the information through a streamlined pipeline. Its predictive engine then generates precise reserve estimates, enabling TPAs to unlock trapped capital and lower their excess insurance premiums. The platform follows an ingest-predict-act workflow that supports faster claim closures while maintaining claim quality standards.
Target Audience
Primary customers are third-party administrators (TPAs) managing self-insured workers' compensation programs who need more accurate reserve setting and cost reduction.
Features
- Automated data ingestion pipeline that processes, structures, and validates historical claims and loss-run data
- AI-powered reserve prediction engine that identifies actual claim costs to reduce over-reserving by 25-30%
- Streamlined ingest-predict-act workflow designed to accelerate claim closures without compromising quality
- Capital optimization capabilities that unlock trapped collateral and reduce excess insurance premiums