6.3.5 Catastrophe Tab

The Catastrophe tab includes reports that focus on the Key Performance Indicators for declared Catastrophe. The filters for this tab allow the report results to be focused on selected combinations for comparison and targeted analysis.

The filters include:

• Time
• Company
• Catastrophe
• Region

The various reports available under this tab are detailed in the following sections.

Catastrophe Net Losses Map

This report is a Geographic Heat Map that illustrates the monetary amount of Net Losses, that is, Paid Losses exclusive of Expenses, for Catastrophe Claims over geographic regions with areas of similar amounts colored similarly. The Location of Loss provides the basis for geographical mapping.

Figure 6-178 Catastrophe Net Losses Map

Catastrophe Claim Ranking

An assessment and ranking of catastrophe losses can be measured by various performance measures like net losses, claim payments, and through the number of claims across regions and catastrophes. This report contains both tabular and geographical map that lists the catastrophe in the order of greatest value to the least value based on the grade basis selected.

Figure 6-179 Catastrophe Claim Ranking

Catastrophe Lines of Business Impact

This is a tabular report that provides a summary of the effects of a catastrophe on the claim performance for the lines of business. The total claim payments and claim count are presented for each Line of business for each catastrophic event.

Figure 6-180 Catastrophe Lines of Business Impact

Catastrophe Product Impact

This is a tabular report that provides a summary of the effects of a catastrophe on the claim performance of the product. The total claim payments and claim count are presented for each Line of business for each catastrophic event.

Figure 6-181 Catastrophe Product Impact

Catastrophe Overview

This is a tabular report that summarizes the key performance factors for Claims performance for each Catastrophe. This report lists down impacts by each catastrophe in terms of reinsurance companies involved, count of claims, claim payments, expense amount, reinsurance recovery amount by each reinsurer, no of claims open, number of claims closed, no of claims closed marked as fraudulent claims, and so on. This report can be analyzed by all or any selected catastrophe, by regions impacted by the catastrophe.

Figure 6-182 Catastrophe Overview

Catastrophe Claim Payments by Claim Type

This report is a time-series line graph generated by total or specific claims types like death, dismemberment, and so on for each product. The report has two report level drop-down values like “All Claim Types” and “Specific Claim Types”. The second drop-down menu list is displayed upon selection of “Specific Claim Types”, where an individual time series can e generated by selecting each claim type. This report can be analyzed by various periods, company, catastrophe name, and regions as selected from the page level prompt.

Figure 6-183 Catastrophe Claim Payments by Claim Type

Catastrophe Payments by Reinsurance Company

This report is a stacked Bar/Line graph that illustrates the relationship between the amount of payments made by the insurer and those that were received from the reinsurer for claim payments. Each stack of the bar represents each reinsurance company that the insurance company has an agreement with.

Figure 6-184 Catastrophe Payments by Reinsurance Company

Catastrophe Expenses by Claim Type

This report is a time-series line graph generated for claim expenses by total or specific claims types like death, dismemberment, and so on for each line of business. The report has two report level drop-down values like “All Claim Types” and “Specific Claim Types”. The second drop-down menu list is displayed upon selection of “Specific Claim Types”, where an individual time series can e generated by selecting each claim type. This report can be analyzed by various periods, company, catastrophe, and regions as selected from the page level prompt.

Figure 6-185 Catastrophe Expenses by Claim Type

Catastrophe Expenses by Expense Type

This report is a line graph that illustrates the monetary payment totals generated for expenses on claims based on the categorization of the expense. Each expense amount is categorized by the catastrophe and type of expense. Additional details can be reviewed by a specific expense type from the expense type selection field.

Figure 6-186 Catastrophe Expenses by Expense Type

Recovery Overview by Catastrophe

This report is a tabular representation illustrating the performance of Recovery Referral for each Catastrophe and the performance of those efforts.

Figure 6-187 Recovery Overview by Catastrophe

Catastrophe Recovery Payments

This report is a line graph that illustrates the total monetary amount of Recovery Payments, payments received by an insurer that reimburses it for losses it paid, received for Catastrophe Claims during a reporting period and shown over a period for each Catastrophe. Each Catastrophe is represented by its own line.

Figure 6-188 Catastrophe Recovery Payments

Average Days until Closed

This report is a line graph that illustrates the average number of days between the day a catastrophe claim is opened in the system and the date that the status of the same claim is changed to "Closed". This average is shown over a time series for each catastrophe.

Figure 6-189 Average Days until Closed

Closed Without Payment

This report displays the count of catastrophe claims that were closed without any payments for losses being issued to claimants. The graph shows the average count of days for these claims per catastrophe over time.

Figure 6-190 Closed Without Payment

Claims Closed Due to Fraud

This report is a line graph that displays the count of catastrophe claims that were closed after an investigation determined that fraudulent activity occurred and no losses were paid to the claimant due to the fraud activity. The graph shows the count of these claims per catastrophe over time.

Figure 6-191 Claims Closed Due to Fraud

Reopened Claims

This report displays the count of catastrophe claims that were initially closed and then opened again for further processing. This shows the count of claims per catastrophe where this process occurred over time.

Figure 6-192 Reopened Claims

Litigation Claims

This report is a line graph that displays the count of catastrophe claims that resulted in a judicial litigation case being initiated. This shows the count of claims per catastrophe where this process occurred over time.

Figure 6-193 Litigation Claims