Learn more about Concirrus portfolio management reports below.
A Concirrus portfolio management report helps clients to review the selection, pricing, and management of risk within their organisation.
It assesses the historic and current health of your portfolio and identifies opportunities for growth through actionable insight, with estimated loss ratio improvements.
Performance is derived though detailed analysis of accounts, vessels, and behaviours. The result is an annual breakdown of historical trends, highlighting changes in risk and team performance over time.
Changes to the number of policies written, net premium, total claims, claims incurred, and loss ratio inform on both claim type and severity, which are used to formulate a risk score. Vessel segmentation by risk score reveals commonalities and associated factors that impact performance. Future pricing, and account selection strategy can be shaped by these factors, informing underwriting teams on the reasons behind changes to risk appetite. Factors that underpin profitable accounts can be used to identify similar accounts with potential. Meanwhile, those that correlate to the five least profitable accounts help with risk mitigation initiatives.
The impact of individual Brokers and Underwriters on portfolio performance is understood though premium versus claims, number of policies, loss ratio for annual and three-year period, as well as risk score. Unique risk scores guide external conversations by identifying those that facilitate positive portfolio performance. Internally, risk scores indicate individual contributions to team performance, guiding personal development and goals.
Reports are focused on your organisation and include visual data and supporting commentary to help your team with effective risk management.
Quest Marine gives Underwriters and Brokers access to similar insights into marine risk in real-time. A report may give you enough information to help shape your digital transformation strategy. However, if you're looking for real-time marine risk information take a look at the Quest Marine platform.
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