WHERE DATA AND ANALYSIS MEET INNOVATION
Insurance brokerages usually have their account managers take on actuarial functions, or you’ll get charged an additional fee to work with an actuary. At NFP, all actuarial functions are performed by a certified actuary of the Casualty Actuarial Society — at no additional charge.
Using forecasting methods, our in-house actuary supplies the very latest data and analysis that can give you a favorable edge during pricing negotiations and retention setting. The benefits of having an actuary working in tandem with your BWD account specialist include:
Loss frequency and severity forecasts. Various loss experience analyses help identify where to focus loss prevention and claims management resources.
Defense against insurance collateral demands. The right combination of credible actuarial analyses and negotiation can help keep collateral negotiations favorable for you.
Retention/price competitiveness. A routinely conducted risk retention analysis ensures your retention levels are ideal.
Allocation. An allocation of premium for all lines in an insurance program, based upon a business unit’s exposure and loss experience.