Risk Analysis Services

Risk Analysis Services (RAS) helps level the playing field in the insurance marketplace.

RiskMap® Loss Forecasting (“LF”) Analyses


RiskMap® Loss Forecasting (“LF”) Analyses

Brokers, Self-Insureds and Insurance Buyers, CFOs,
Risk Retention Groups (RRGs), Risk Pools, Captive Managers: …

… RiskMap® projects more scenarios, based on multiple slices of data, enabling
end-users to analyze historical data for current and future decision-making.

Progressive Risk Managers are engaged in frequent forecasts …

… for demand, supply, operations and losses.

Success in today’s fast-moving business environment demands repeated hypothesis-testing for future conditions to maximize sales and profits and to minimize costs and losses.  Loss forecasting for corporate (or other organizational) risks should be treated as mission-critical and up-to-date as other KPIs.

RiskMap® LF makes this possible, almost an “artificial intelligence tool”. It can be used by all operational groups: sales, marketing, treasury, HR, operations, logistics, transportation, safety, etc.

It’s a fact: Many risk managers simply don’t realize a loss forecasting service can be very cost-effective.

Accurate, timely loss forecasting, when coupled with prompt, appropriate adjustments to operations, will produce a more financially successful, stronger, stable organization. This can lead to higher profits and bigger employee bonuses!

Now risk managers can partner with operations and HR, because RiskMap® Loss Forecasting provides a benchmark for successful process and procedural changes.

A Risk Manager, – and other people responsible for managing an organization’s risks should have significant knowledge of that organization’s vital information on a timely basis. Otherwise, too many things simply fall through the cracks, creating lower profits or needless losses.  Our Executive Summary empowers C-Level understanding of risk process and implications.

Creating timely loss forecasting need not be a difficult task. RiskMap® Loss Forecasting services provide systematic and rigorous Loss Forecasting analyses quickly and at very reasonable prices. Our proprietary software is our “secret sauce” we use to your advantage!

Risk-bearing entities like Risk Retention Groups (RRGs), Risk Pools, Captive Managers and Insurance Companies can validate their safety and loss control efforts – where RiskMap’s ability to efficiently do multiple iterative analysis provides an order-of-magnitude enhancement to the analytics process and insights.

Required Data:

We require a minimum of 4 years of historical loss and exposure data.

Projected Total Losses (Estimated and Actual)

RiskMap® Loss Forecasting Deliverables

Each analysis includes:

Data Inputs, Frequency Analysis, Severity Analysis, Projected Total Losses.

Regression Analyses Table and Equations: Frequency Rate and Severity regression analyses.

Projected Losses Summary Results: Frequency Rate, # Claims, Severity, Total Losses and Loss Statistics.

Loss Forecasting Confidence Intervals Details: Frequency Rate, Frequency and Severity detailed analyses.

Confidence Intervals Summary: Total Projected Losses and Confidence Intervals.

Excess Loss Analysis (where applicable): Where Excess Loss amounts are included in regression analysis, they are reflected in the graphs, tables, etc.   Where Excess Loss amounts are excluded from regression analysis and separately calculated, they are reflected in the total loss projection summary and in an Excess Loss analysis page.

RiskMap® Loss Forecasting Charts:

Projected Total Losses, with and without Confidence Intervals

Projected Total Losses Graphs with Confidence Intervals

Frequency and Severity Loss Trending Statistics: Correlation Coefficients & Coefficients of Variation

Actual & Estimated Number of Claims & Exposure – Number of Claims

Projected Cost per Claim – (Severity) with Confidence Interval

Projected Frequency Rate of Claims – Actual and Estimated frequency rate with Confidence Interval

Projected Loss Summary Results, including frequency and severity with Correlation Coefficients and Coefficients of Variation

Excess Loss Analysis (where applicable): where Excess Loss amounts are included in regression analysis, they are reflected in the graphs, tables, etc.   Where Excess Loss amounts are excluded from regression analysis and separately calculated, they are reflected in the total loss projection summary and in an Excess Loss analysis page.

*Note: Confidence intervals are ranges which results are expected to fall between.  For example, with a 95% Confidence Interval, the results may be expected to fall within the indicated range (between the upper and lower bounds) 95% of the time.

Using RiskMap® Loss Forecasting produces projected frequency rate, frequency, severity (average cost per claim) and total projected losses.

 Projected Cost per Claim

Projected Number of Claims

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