Find optimal casualty risk transfer strategies that reflect your organization’s specific risk potential with Casualty Quantified. The tool, directly accessible on Risk IQ, provides a platform to collaborate, evaluate and optimize your risk program.
We go beyond traditional actuarial analysis which typically includes experience and exposure rating, with tailored loss scenarios, selected from our scenario library. Coverages include:
- Auto liability
- General liability
- Workers’ compensation
- Products liability
- Excess liability.
Casualty Quantified empowers a curated and more informed view of your excess program loss potential for more informed casualty risk management decisions.
Secure a better understanding of your casualty risk exposure and align your casualty risk management strategy with financial goals
How does Casualty Quantified support optimized casualty risk management?
Casualty Quantified provides you with a range of risk outcomes and dynamic capabilities to change retentions, limits and pricing in real time. The tool helps you create strategic risk transfer programs before engaging the insurance marketplace, so when you get quotes, you can more easily evaluate the efficiency of your layers, helping deliver better value at renewal.
With Casualty Quantified, you can assess expected loss ratios, limit adequacy and premium return on investment (ROI). The tool helps you substantiate your decisions beyond historical uses of benchmarking and qualitative assumptions.
You can also assess combined and multiple coverages to evaluate the total cost of risk associated with your entire casualty program.
How does the tool inform better value casualty risk transfer strategies?
Casualty Quantified gives you an enhanced understanding of your casualty risk exposure, providing both a comprehensive and granular view. The tool delivers this by analyzing your loss history and combining it with industry data and scenarios tailored to your specific industry makeup, geography and hazard risk profile. With this precise evaluation of casualty risk, you can make more informed decisions on your casualty risk management strategy.
With the ability to model large loss potential all the way up the insurance tower beyond the limits of general liability, Casualty Quantified provides a full range of loss outcomes. This allows you to value both the adequacy of limits and the efficacy of excess insurance layers across multiple coverages, quickly and easily.
And with the ability to simulate small and large losses, you can weigh-up expected loss and volatility within the retention, as well as the valuation of primary and excess buffer layers.
How can Casualty Quantified enhance organizational decision making on casualty risk?
Casualty risks vary extensively between organizations. Casualty Quantified allows you to apply and supplement your specific risk profile dynamic to traditional actuarial techniques. This allows you to project risk more accurately.
With insight from the tool, you can engage with all levels of your organization. Casualty Quantified’s easy-to-digest visualization of risk and cost is specifically designed to make it easier to collaborate on data-driven casualty risk decisions aligned with financial objectives.
How can the tool support better casualty risk insurance renewals?
With precise and actuarially sound casualty risk insight, you can take a proactive approach to your casualty insurance renewal. The tool helps determine expected retained losses, evaluate retention changes and gives insight on the value and adequacy of excess layers. By re-evaluating updated loss runs throughout the year, you can ensure your insurance strategy remains aligned with risk exposure.
How can insight from Casualty Quantified support decision making on acquisitions and divestitures?
How will an acquisition or divestiture impact your casualty exposure? Get answers with Casualty Quantified’s dynamic evaluation of risk, helping you assess the potential impact of transactions on casualty exposures. This enables you to make informed, real-time decisions regarding your insurance coverage and ensure your risk management strategy remains effective even during periods of organizational change.
How can I get further value from analytical insight on my risk retention approach?
As part of our Risk Intelligence Quantified platform, you can create and control your risk narrative, change scenarios, add exposures and losses. Casualty Quantified supports the transformative analysis of dynamic risk and risk exposure articulation at c-suite level. In addition to self-serve access, Casualty Quantified is directly linked to our portfolio tools, Dynamic TCOR and Connected Risk Intelligence. This supports portfolio risk analysis and optimization, as well as comparisons to corporate financial priorities using tools such as Risk Tolerance Clarified.
You can also use Casualty Quantified in collaboration with our risk experts to quantify risk and evaluate casualty insurance strategies, from retention through to high excess layers.
For a smarter way to optimize your casualty risk management strategy, get in touch with WTW’s casualty risk specialists.
Disclaimer
Willis Towers Watson hopes you found the general information provided in this publication informative and helpful. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal advisors. In the event you would like more information regarding your insurance coverage, please do not hesitate to reach out to us. In North America, Willis Towers Watson offers insurance products through licensed entities, including Willis Towers Watson Northeast, Inc. (in the United States) and Willis Canada Inc. (in Canada).
