Insurer Choice Cited On Stats
To The Editor:
Gary Gilbert of IDP commented on the challenges that insurance companies face when they seek to report statistical data using expanded statistical plans developed by the Insurance Services Office, Inc. (“ISO Stat Reports No Easy Trick,” NU, July 30, page 19.)
However, insurers have a choice when it comes to statistical reporting. The American Association of Insurance Services is another–the only other–national property-casualty statistical agent that provides statistical plans for reporting unit transaction data that can be used to support ratemaking as well as regulatory compliance.
AAIS is also a product development resource that uses the data it collects to support the policy forms, manual rules, and loss cost rating information it develops and maintains for more than 600 p-c carriers nationwide.
Your readers can weigh the merits of different statistical plans for themselves, but they will be well-served to know they have alternatives.
Larry Thill
Manager, Statistical Services
American Assn. of Insurance Services
Wheaton, Ill.
Reproduced from National Underwriter Property & Casualty/Risk & Benefits Management Edition, September 3, 2001. Copyright 2001 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.
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