Insurers handling personal injury claims could soon benefit from significantly reduced financial exposure and improved reserve accuracy, thanks to a new data-driven tool launched by law firm Weightmans LLP. The tool, PREDiCT Volume, has shown promising pilot results, including potential indemnity savings of £3.82 million and an estimated £18.7 million reduction in capital lock-up.
Developed by Weightmans’ in-house data science team, PREDiCT Volume is specifically designed for managing low-value personal injury claims—those involving motor, employer’s liability, and public liability—with a value cap of £50,000. The tool enhances claim handling efficiency while improving financial predictability for insurers.
PREDiCT Volume builds upon the firm’s established analytics platform, PREDiCT Large Loss, which was launched in July 2021. Over the past year, Large Loss has reportedly delivered savings of £101 million by helping insurers better manage complex, high-value claims.
Pilot testing of PREDiCT Volume highlighted marked improvements in reserve accuracy. Traditional handler-approved reserves were, on average, nearly 59% higher than the eventual settlement amounts. In contrast, reserves estimated by PREDiCT Volume overshot final payments by just 8.6%, enabling more accurate capital allocation and reducing the need for excess reserves. Based on the pilot portfolio, this translated into £18.7 million in freed-up capital.
The tool also demonstrated operational benefits, with claims resolved 14% faster on average compared to conventional handling methods. This efficiency contributed to the projected £3.82 million in indemnity cost savings within the tested sample.
Meanwhile, Weightmans continues to see success with PREDiCT Large Loss, which has been applied to over 140 complex cases settled between July 2021 and December 2024. The firm reported a 7% reduction in the median lifecycle of those claims, alongside improvements in both reserve accuracy and cost containment.
Further bolstering its data analytics capabilities, Weightmans recently launched PREDiCT 2.1, an updated iteration of its platform. The new version incorporates an additional 12 months of claims data and updated claims inflation metrics. Early internal testing of the revised model suggests even greater predictive accuracy and potential for savings.
