uc18 partner presentation
TRANSCRIPT
Presentation Management sponsored by
INNOVATIVE SOLUTIONS
FOR AN
UNCERTAINWORLD
Ben Fidlow, FCAS, MAAAGlobal Head of Core AnalyticsWillis Towers Watson
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For a Treasury:To alter decisions
● Desire to make better/smarter and substantiate decisions
● ROI view across all types of insurable risk● Drive better financial outcomes
For Risk Management:To elevate status
● Engage C-suite in concise, financial language
● Potential to elevate role into a strategic one
● Ability to engage on traditionally non-insurance topics such as risk tolerance
For Brokers/Risk Advisors:To deliver better client service
● Adds efficiency● Apply big data● Risk first, solution second● Answer basic questions● What’s the ROI on my insurance
spend?● How much risk am I subject to?● What are my risk drivers?
Why Do Analytics Matter?
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Delivery of Analytics at Scale: Empowering Our Clients
● Client Collaboration Using Technology○ Visualization of Data and Risk○ Real Time Customization
● Analytical Content Ingrained into Service Delivery● Concise and Impactful Insight● Quantify and Convey Risk Drivers● Proactive Fact-Based Decision Support● Real Time Feedback● Collaborative Build of Longer-Term Risk Strategy● Deploy Big Data
willis.com/CoreAnalytics
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Analytics at Work
Assess Vulnerability
Evaluate Risk Transfer Cost vs Benefit
Gain Holistic Insight
See the impact of retained loss on your KPIs
Identify Loss DriversTop 3 Loss Causes
willis.com/CoreAnalytics
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Near Future
The Risk Analytics Continuum: Then and Now
Static/Disconnected“Actuarial” Analysis
Minimal Feedback &Risk Support
Minor Value Add To Decision
Dynamic Data and Technology Driven Analysis
Iterative Risk & Client Engagement Risk
Tolerance
Holistic Evaluation
Evolved Strategic
Engagement
Self Service
Typical Analytical Engagement
Evolved Analytical Engagement
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Dynamic TCOR
Dynamic TCOR presents a holistic, concise view of your Total Cost Of insurable Risk (TCOR) across all classes of insurance. This tool propels TCOR beyond a simple budgetary view. This dynamic perspective includes risk as an added dimension. Beyond budgetary, total cost with risk insight.
Dynamic TCOR captures known costs and expected retained losses for all major coverages within your insurance portfolio. Willis Towers Watson’s proprietary suite of risk-specific loss models simulate loss outcomes at the full range of likelihood levels, demonstrating potential TCOR volatility and enabling evaluation of risk transfer.
▪ Evaluate Risk Holistically by displaying retained loss outcomes across all major coverages.
▪ Scrutinize the Risk Transfer Strategy through an explicit calculation of financial benefit across a broad spectrum of loss outcomes. See how often you expect your losses to fall short of your insurance spend and how often you should win the “insurance bet”.
▪ Identify the risk drivers which expose your corporation to significant adverse outcomes.
willis.com/CoreAnalytics/tcor.html
Coming Up Next:6:00 – 10:00:Evening Event@ The BatteryJoin us at Punchbowl Social, a one-of-a-kind gastropub, gaming parlor and social lounge. Equipped with bowling, pool, classic video games, table tennis, karaoke, darts, corn hole and giant scrabble. Sports & Social also serves an eclectic and extensive menu of beer and a well-appointed cocktail menu.