Actuaries

We understand the intense data requirements of actuaries. The i4 customized business intelligence solution provides actuaries the ability to examine all sophisticated insurance measure and analytics.

Actuaries typically require the most sophisticated analytics which can challenge any data modeling and warehouse effort. The data model must be flexible enough to provide aggregations by calendar year, accident year or policy/rate year depending on whether the task may be reserves review, rate pricing, etc. The data warehouse must also be capable of delivering historical earned premium and earned exposure years (e.g., house years and car years), since these measures represent the foundation for sophisticated insurance measures. The i4 customized business intelligence solution provides actuaries the ability to examine all of this key data. If the data model and warehouse is in appropriate order, the following is a select sample of measures, reports and analyses that may be achieved by implementing an i4 customized business intelligence solution:

  • Loss Development Triangles by any combination of dimensions (e.g., Product/LOB, Distribution Channel, Geography, Class, Construction, Risk, Demographics, Injury Type, Adjuster, Cause of Loss, Claim Status, Claim Category, etc.).
  • Loss & LAE Ratios, Loss Costs, Earned Premium and Exposure, Frequency, Severity, Credibility, Earned Exposure Years by any combination of dimensions and time frames.
  • Rate On-Level Analyses.
  • Stratification of measures using Comparison Ranges. For example, grouping measures by auto or home values, premium ranges, losses incurred ranges, model year or year built ranges, etc.
  • Analysis of "Shock Losses" and including/excluding various loss thresholds.