Almost $8 trillion in loss value represented in a structured database
NEW YORK – March 4, 2014 – Advisen Ltd., the single source solution for insurance intelligence, announced today that the severity database, within its Loss Insight solutions, has surpassed 200,000 loss events.
Loss Insight provides multi-dimensional information for actuarial, underwriting, claims, and risk management uses on management liability and commercial lines loss events. Loss Insight intersects highly detailed loss event data with time series financial data to effectively manage insurance risk and portfolio profitably.
Advisen CEO Tom Ruggieri commented:
This dataset long ago achieved critical mass, and by that, I mean that a search for loss events by an industry segment down to the NAICS or SIC code level or by company size or by any geography or coverage type yields meaningful results. From cyber risk breaches to securities frauds, and from wage & hour cases to product recalls, we are deep in every category of large loss.
Insurers use Loss Insight for:
John Pagliaccio, EVP and Director of Analytics, added:
Loss Insight overcomes the deficiencies in traditional insurance data by providing the entire ground-up unlimited loss amounts matched to all the relevant risk characteristics which are not captured by most insurance companies.
Advisen has been capturing loss data since 2003. After investing millions of dollars and with more than 75 people dedicated to growing and updating this database, no other source of large loss data like this exists.
Loss Insight is available via the following delivery methods:
Learn more about Loss Insight for Insurers. If you are not an Advisen client and want more information, contact [email protected].
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