Theoretically, the use of unique factors as opposed to industry averages produces a more accurate projection of ultimate incurred losses. Therefore, if you have development data that is unique to the entity that you are preparing the report for, then use that data rather than the defaults provided by Loss Forecaster.
Articles in this section
- How do I include an acquisition in a loss projection analysis?
- How do I best utilize the state weighting capability of Loss Forecaster for a Workers Compensation analysis?
- My client has acquired another company. Would separate or combined loss projections be best?
- Why am I getting the message "This evaluation date must provide six months of loss development for the period." when trying to input the evaluation date for the current policy year?
- Why am I getting the message, "Paid cannot be greater than occurred.” on the Limited Incurred/Paid Losses column?
- What is the difference between the two methods of loss development?
- How should I weight the workers compensation inflation trend factors?
- If I have a client’s loss development history, can I use that data in Loss Forecaster?
- How do I enter data on the "Excess of Limit Data Input" page?
- How does LF develop losses for a period which is closed (fully paid)?
Please sign in to leave a comment.