Lesson 3 of 3•AI for Loss Control & Prevention0 of 3 complete (0%)
15 min read
Loss Prevention Program Design & Evaluation
What you'll learn
- 1Design comprehensive loss prevention programs for policyholder segments
- 2Measure the effectiveness of loss control interventions
- 3Build data-driven arguments for loss control program investment
From Individual Surveys to Systematic Prevention
Individual loss control surveys add value one account at a time. But the biggest impact comes from systematic programs that address the most common loss drivers across an entire book of business.
Program Design with AI
Identifying Program Targets
- 1.What are the top 5 loss causes by total incurred dollars?
- 2.What are the top 5 loss causes by claim frequency?
- 3.Where is the intersection (high frequency AND high severity)?
- 4.For each top cause, what percentage of losses could be prevented
- 5.Rank potential programs by: (a) size of addressable loss pool,
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What you'll learn:
- Design comprehensive loss prevention programs for policyholder segments
- Measure the effectiveness of loss control interventions
- Build data-driven arguments for loss control program investment