Methods and systems are provided for evaluating processes for insurance
claim estimation and settlement. Data may be provided for closed claims
that have been previously settled using an estimation and settlement
process. Each closed claim in the data is treated as a candidate claim.
For each candidate closed claim, a set of closed claims similar to the
candidate closed claim is identified based on characteristics of the
candidate closed claim. For each set of similar claims so identified, a
representative value for the set of similar claims, such as an arithmetic
mean, is determined. The settlement values for the candidate closed
claims are compared to the representative values for the sets of similar
closed claims.