Using L oss Data to Win Ove r Clie nts 14 th ,11am E We binar : - - PowerPoint PPT Presentation

Using L

• ss Data to Win Ove r

Clie nts

We binar : Se pte mbe r 14th,11am E DT

Ho w c an yo u use lo ss da ta to justify yo ur c o ve rag e re c o mme nda tio ns a nd he lp de te rmine a ppro pria te limits? Whe n c lie nts a sk yo u fo r re le va nt lo ss e xa mple s, ho w do yo u re spo nd a nd a lso furthe r diffe re ntia te yo ur b ro ke rag e se rvic e s?

Insur e d: “How can I insure myself

against unexpected losses?”

Br

• ke r

: “I know the market but I

have no data to suppor t my limit

recommendation.”

2

Today’s Presenters

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Zac h Boggs Clie nt E xpe rie nc e Ma na g e r Stac ie L ilie n E ve nt Co nte nt & Pro g ra mming Ma na g e r

T able of Conte nts

• Clie nt I

nsig ht Re po rts

– Whe re to Orde r – What’s Included

• Use Ca se s

– L

a rg e L

• sse s

– L

imit Ade q ua c y

– L

• ss Be nc hma rking

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Clie nt Insight Re por ts He lp Answe r Se ve r al Que stions

• 1. How Muc h Cove r

age Do My Pe e r s Have ?

• Pre mium, L

imit, Re te ntio n

• 2. Whe r

e Doe s My Pr

• gr

am F all Within My Pe e r Gr

• up?
• L

imit Ade q ua c y

• 3. What T

ype s of Risks Do I F ac e ?

• L
• ss E

xa mple s

• 4. Am I Ge tting a Good Rate ?
• Ra te Pe r Millio n
• 5. Is My L

imit Ade quate ?

• L
• ss Be nc hma rking

5

Re por ts on De mand Or de r Page

http:/ / r e por tsonde mand.advise n.c om

Industr y Be nc hmar k Re por t CI Pr

• –

Re ne wal CI Pr

• –

Ne w Busine ss CI E xpe r t– Re ne wal CI E xpe r t – Ne w Busine ss Pr

• gr

am Be nc hmar ks X X X X X L

• ss Data for

E ac h Re que ste d L OB X X X X Company Infor mation X X L

• ss Be nc hmar

king X X Plac e me nt Analytic s X X

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Re que sting L OBs

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What’s Included

• Pre mium
• L

imit

• Re te ntio n
• Ra te Pe r Millio n
• Qua rtile s o n Qua rtile s
• L

a rg e L

• ss E

xa mple s

• L

imit Ade q ua c y

8

Pr

• gr

am Be nc hmar king

T he Clie nt's Pre mium o f USD 17,000, whe n c o mpa re d to the L OB Pe e r Gro up - Umb re lla / E xc e ss, is in the Hig h Middle o f the ra ng e . T he c ha rt a b o ve illustrate s the pe rc e nta g e o f pro g ra m c o unts tha t a re within e a c h pre mium ra ng e .

T his g ra ph illustra te s the a mo unt tha t a c o mpa ny, in the middle 50% o f pro g ra ms, wo uld pa y pe r o ne millio n do lla rs in limit. T he g ra ph still inc lude s c o mpa nie s tha t a re b e lo w the 25th and a b o ve 75th pe rc e ntile s in the c a lc ula tio ns, ho we ve r, fo r illustra tio n purpo se s, the y a re no t sho wn.

T he Clie nt's L imit o f USD 18,000,000, whe n c o mpa re d to the L OB Pe e r Gro up - Umb re lla / E xc e ss, is in the Hig h Middle o f the ra ng e . T he c ha rt a b o ve illustrate s the pe rc e nta g e o f pro g ra m c o unts tha t a re within e a c h limit ra ng e .

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10

Pr

• duc e r

:

“My client’s asking for

HIPAA violation e xample s.

What can I show him?”

Sc e nar io #1

L ar ge L

• ss E

xample s

11

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Insur e d:

“I don’t think I need cyber

c ove r age . Why ar e you

trying to sell me some?”

Br

• ke r

:

“See for yourself.”

Sc e nar io #2

L imit Ade quac y

Wha t a re a de q ua te limits in this pe e r g ro up?

13

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Insur e d:

“I don’t think my losses are

as se ve r e as othe r

companies.”

Br

• ke r

:

“Let’s look at your

individual losse s vs. your pe e r s and a high le ve l vie w

• f losse s in the same

group.”

Sc e nar io #3

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L

• ss Be nc hmar

king

Ho w b ig a re typic a l lo sse s in this pe e r g ro up?

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F r e que nc y vs. Se ve r ity

What’s the breakout of risk I face?

Clie nt Insight Pr

• fe ssional

Clie nt Insight E xpe r t

I nc lude s I nsura nc e Pro g ra m Be nc hma rking a nd a ne c do ta l L

• ss Da ta a c c e ss

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Also a dds L imit Ade q ua c y, L

• ss

Be nc hma rking , Pla c e me nt Ana lytic s

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Got Suppor ting Doc ume ntation?

• 10-pa g e Insur

anc e Pr

• gr

am Be nc hmar king Me thodology

do c ume nt sho ws ho w we tra c k a nd ma tc h this tra nsa c tio n da ta

• Our mo st-re que ste d L
• ss Data c ollate r

al fe a ture s ma c ro

• ve rvie ws o f o ur lo ss da ta se ts
• 8-pa g e L
• ss Data Me thodology re po rt de sc rib e s ho w we

c o lle c t a nd c urate lo ss e ve nt da ta

• Our 18-pa g e Advise n Por

tfolio Analysis do c ume nt illustrate s

the b e ne fits o f c o mpa ring yo ur Bo o k o f Busine ss to Advisen’s T ra nsa c tio n & L

• ss da ta

We e xpe c t mo re tha n 1,000 pe o ple to re g iste r to he a r fro m o ve r 75 spe a ke rs who a re to p e xpe rts in the c yb e r insura nc e spa c e . Our multi-tra c k c o nfe re nc e will fe a ture the ho tte st to pic s inc luding c yb e r risk ma na g e me nt, de ve lo ping issue s in

the cyber insurance space and insight into the ‘Dark Side’ of the web - with a fo c us o n the pe o ple b e hind the

la te st c yb e r inc ide nts. L

e ar n mor e.

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Join us on Oc tobe r 26th for

• ur

Cybe r Risk Insights Confe r e nc e in Ne w Yor k!

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