Did You Know: LOSS PICKS and LOSS TRIANGLES
When you're making a loss pick or estimating losses for clients or prospects, you need your historical loss data and exposure data. Next, you might hire an actuary or create some complicated spreadsheet. Advisen has now created a new loss pick analyzer that is "s-e-x-y" and easy to use (though we doubt there is anyone in commercial insurance who would use the terms "s-e-x-y" and "loss pick" in the same sentence!) However, located under the Losses & Exposures dropdown menu, Advisen's Loss Triangle leads you step-by-step through the process and produces some powerful charts that easily download to Word. Suffice it to say that this new functionality is extremely good-looking! Contact firstname.lastname@example.org for more info.
If you are budgeting your retained losses or evaluating alternative insurance quotes or negotiating security requirements for casualty insurance programs, you'll like this new capability. You can even upload your loss history to jump-start the process.
Advisen's Loss Pick / Loss Triangle comes in handy when the underwriter has created a conservative estimate of next year's losses for the client. However, the broker believes that the underwriter's estimate is much too high. Advisen's Loss Triangle helps all parties create a more factual representation of the forecasted loss for the insured.
Advisen's Loss Pick / Loss Triangle also comes in handy when the insurance buyer creates his/her own estimate of next year's losses. However, the broker needs a tool to help determine an independent estimate of the buyer's forecasted loss.
Advisen allows to create and to store as many Loss Triangles as needed. You can save and update your losses over time, too. We also provide an array of loss development factors from which to select. And all loss forecasts export to colorful charts which download easily to Word.
To access Advisen's Loss Pick / Loss Triangle, click on the Losses & Exposures dropdown menu and select Loss Triangle. If you'd like a free copy of our 23 page Guide to our Loss Triangle, just let us know.