POSTER: Underwriting & Exposure Management Auditing Tool:
- To enhance the workflow process:
- To manage underwriters' expectations.
- To enhance the quotation process:
- To monitor proportion of written policies over quotes for each underwriter.
- To monitor each class of business during peak time:
- To do job reallocation;
- To do head counting.
- To monitor underwriters quality of work:
- To look at types of queries being sent to UWs.
- To enhance the queries process:
- Recent queries might have been answered before;
- To monitor unresolved queried.
- To monitor analysts quality of work:
- Peer reviews results will be used to give analysts required trainings.
- The platform is built in Microsoft Access;
- The data is saved in SQL database.
SIEVE: Services to Impede Exposure Varying Errors:
- To remove errors and duplicated data;
- To correct and verify geocoding data;
- To verify occuppancy/construction codes;
- To verify the signed lines;
- To verify the currency codes;
- To verify the perils;
- To verify TIV, Ded, and Limit;
Tools Innovation & Development - Exposure Management R Package
- A combination of packages written using R, SQL for:
- Auto-reporting;
- Grouping Event Loss Tables;
- Simulating Year Loss Tables using ELT;
- Netting down losses;
- Portfolio optimization and accounts marginal impact;
- Exposure calculation per geographical boundary;
- Extracting OEP/AEP for RP from RDMs;
- Pre-bound data cleansing: Schedule data cleansing;
- Post-bound data cleansing: Improving EDM quality using some checks;
- Generating professional reporting graphs: tree map, step charts, etc.;
- Identify loss causing exposure per region: useful for treaty books;
- Identify stochastic event magnitude contribution to AAL and OEP;
- Insert new ELTs into RDM: updating rates, scaling loss, etc.;
- Extract each account ELT and set as a new analysis id in RDM;
- Updating rates and loss in ELT: company view of risk;
- And more.
Tools Innovation & Development - Probabilistic Modelling Using Underwriters View of Loss
- A combination of packages written using R, SQL for Auto-reporting;
- PMUV - Probabilistic Modelling Using Underwriters View of Loss;
- What is PMUV?
- Usually used for Retro, Reinsurance and non-modelled regions;
- Where there is no modelling details for a region peril;
- AEP is based upon underwriters opinions/experiences.
- Solution:
- Using R, SQL base, Industry ELT, and Underwriters View of Loss, an ELT for the class of business is created;
- Output is an ELT, where its AEP is the same as underwriter experience AEP view.
- Advantages:
- UELTs for each class is generated;
- Generated ELTs can be grouped with the rest of classes ELTs for reporting and internal model.
Tools Innovation & Development - Portfolio Optimisation
- Development of an R-SQL code to calculate the accounts marginal impact;
- Calculation of the portfolio impact by adding/removing an account;
- AAL and OEP portfolio will be used for optimization.
Tools Innovation & Development - Region Peril Materiality Assessment
- A quantitative, green amber red method;
- To assess the materiality of each region peril;
- Using severity, frequency, historical loss, and exposure;
- Output is High, Moderate, and Low materiality for each region peril.
Tools Innovation & Development - Standard & Auto Reporting
- Generation of regular reporting;
- Standard and professional graphs and tables for reports;
- Reports generated in PDF format using R, Latex;
- Data is extracted from SQL database.
Tools Innovation & Development - Event Response - Exposure and Loss Estimation
- Calculation of exposure/loss in real/forecasted footprint;
- Generation of auto-mated reports;
- Generation of 2D maps in R and PDF and 3D maps in Google Earth.
Map Generation - Visualization on Google Earth
- Visualization on Google Earth;
- Development of KMLER R package to create 5D maps in Google Earth;
- Calculation of syndicate exposure in geographical boundaries:
- Postcodes;
- County;
- State;
- Cresta;
- Country.
Map Generation - Post Earthquake Intensity Hazard Map
- Development of a tool to create live Earthquake Intensity KML map;
- The tool provides the user with PGA, PGV, PSA, and Intensity hazard maps.
Map Generation - 2D HTML Mapping
- Generation of live HTML based map for worldwide countries and perils;
- Exposure and loss 2D mapping available via network drive.