Measuring Performance

For the insurance field generally, there is a clear need to define standards for measuring loss performance across industries. These standards will allow companies to make informed decisions about investing in reducing their expenses for various property or casualty losses. A lower cost of risk than the industry average gives that company an economic cost advantage. With the cost of risk reaching five percent (5%) of total revenues in some industries, there is significant potential profit from good risk management.

Reporting/Analysis

Data without effective analysis is a wasted resource. To invest in improving data logically requires an equal commitment to putting such data to work. The challenge is not computer software. Our computer technology today can answer nearly...