March 20, 2018

WorkCompRecap: Experience & Analytics!

Today’s issue of WorkCompRecap features the recent release of the California WCIRB’s Report on Q2 2013 Insurer Experience, which found that written premium increased 21% for the first half of 2013 compared to the first half of 2012. Also of note were a nearly 10% increase in the industry average charged rate since the second half of 2012, and a 6.2% increase in indemnity claim frequency in 2013 compared to 2012.
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Also in some broader Analytics news today is the release of Valen Analytics’ 2014 Commercial Lines Outlook report which highlights industry dynamics driving the need for analytics, and points to market share consolidation as a significant consideration for the next 12 months.
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