5.4.4 Product Tab

The Product tab includes reports that focus on the Key Performance Indicators for each Product. 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
• Product
• Geography

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

Claim Ranking by Product

This is a tabular report that lists the Product in the order of greatest value to least value based on the Grade Basis selected. The information provided includes Key Performance Indicators for Claim Performance.

Figure 5-216 Claim Ranking by Product

Catastrophe Claim by Product

This is a tabular report that provides a summary of the effects of a Catastrophe on the Claims Performance for the Product. The total Claim Payments, Net Losses, and Claim Count are presented for each Product for each Catastrophic Event.

Figure 5-217 Catastrophe Claim by Product

Loss Ratio by Product

This is a line graph that illustrates the Loss Ratio, the ratio of incurred losses to earned premiums, over a time series. In this report, each Product is represented by its own line.

Figure 5-218 Loss Ratio by Product

Incurred Losses by Product

This report represents the Incurred Losses, the total amount of paid claims, and loss reserves associated with a reporting period, over a time series. This report is generated for the corporation as a whole and illustrates each product with its own line.

Figure 5-219 Incurred Losses by Product

Claim Payments by Loss Type

This report is a line graph that summarizes the monetary amount of payments that have been made for losses reported for each product. The loss types may be further filtered to see specific loss type detail. Each Product is represented by its own line.

Figure 5-220 Claim Payments by Loss Type

Payments by Reinsurance Company

This report is a bar/line graph that illustrates the relationship between the amount of payments made by the insurer and those that were received by the reinsurers.

Figure 5-221 Payments by Reinsurance Company

Expenses by Loss Type

This report is a line graph that illustrates the monetary payment totals generated for Expenses on claims based on the cause of the loss. Each Expense amount is categorized by the Product and type of Expense Allocation. Additional Details can be reviewed by selecting a specific Loss Type from the Loss Type selection field.

Figure 5-222 Expenses by Loss Type

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 Product and type of Expense. Additional Details can be reviewed by selecting a specific Expense Type from the Expense Type selection field.

Figure 5-223 Expenses by Expense Type

Recovery Overview by Product

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

Figure 5-224 Recovery Overview by Product

Recovery Payments by Product

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

Figure 5-225 Recovery Payments by Product

Average Days until Closed

This report is a line graph that illustrates the average number of days between the day a 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 Product.

Figure 5-226 Average Days until Closed

Claims Closed without Payment

This report is a line graph that illustrates the count of claims that were closed during the reporting period without any loss payments generated for the claim.

Expenses may have been paid for these claims. Each Product is represented by its own line.

Figure 5-227 Claims Closed without Payment

Claims Closed Due to Fraud

This report is a line graph that illustrates the count of claims that, after an investigation, were deemed to be fraudulent. In this report, the count is exhibited over a time series with each Product represented by its own line.

Figure 5-228 Claims Closed Due to Fraud

Reopened Claims

This report is a line graph that illustrates the count of claims that were changed back to an "Opened" status after it was previously closed. This report shows affected claims during the reporting periods over a time series with each Product represented with its own line.

Figure 5-229 Reopened Claims

Litigation Claims

This report is a line graph that represents the count of claims where a judicial litigation case was initiated for the claim during the reporting period. This report illustrates the count of the affected claims for over a time series with each Product being represented by its own line.

Figure 5-230 Litigation Claims