Today’s issue of WorkCompRecap features Out Front Ideas with Kimberly and Mark’s announcement of its next free webinar, which will examine insurance modeling has been impacted by the COVID-19 pandemic, and how risk managers will need to adjust their future expectations to account for it.
OFI noted that one of the core assumptions of analytics and benchmarking is that most components display conditions similar to the past, however, the pandemic introduced several variables that question the validity of such models in the future. Key topics for discussion will include temporary vs. permanent changes to benchmarks; impact on development curves; how future loss development could impact models; and the most critical measurements of analytics and benchmarks.