Analysis Mnemonics Flashcards
Claims analyses
INNER CRAP
Impact/ incidence of large claims
New claim types
Nil claims
Expenses vs indemnity cost
Re-opened claims
Changing frequency and severity
Recoveries on gross claims
Assessing concentrations
Partial payments
Reinsurance analysis
CRAVE APE
Catastrophe reinsurance
Reinstatements
Amount of risk to retain
Value for money
Extent of accumulations
Appropriateness of cover
Profitability of layers
Effects of capital
Investment and capital analysis
RICE AD
Risk assessment
Investment policy
Capital requirements
Evaluate existing portfolio
Allocate capital between classes
Determine return on capital
Experience analyses
PEACE REP
Pricing and sales of policies
Environmental changes
Anything else the management require
Claims reserves estimation/ claims experience
Expense analysis and allocation
Risk exposure and aggregations
Estimation of claim trends
Policy behaviour
