ISO RESERVING TOOL PROVIDES CUSTOMIZED ANALYTICSISO, Jersey City, N.J., has developed a loss-reserving tool that draws on large detailed ISO databases to enable insurers to set loss reserves more accurately. Insurers can use the results of the new ISO tool to benchmark reserves against ISO direct (before reinsurance) data and provide ranges around their own reserves. The new loss-reserving tool mirrors an insurer's book of business for each line of insurance to produce two customized aggregate loss development data reports-the Mix of Business Report and the Segment Report. The Mix of Business Report uses ISO aggregate data that is customized for the insurer's unique mix of business to generate multiple estimates of the carrier's loss reserves. After the insurer selects its best estimate of reserves, the tool provides several confidence intervals, or ranges of results, around the best estimate. The Segment Report provides an analysis of ISO aggregate data for the segments-by state, coverage or class groupings-that the insurer has selected.


Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access