Fast Track Plus Boosts Trend Monitoring Capabilities

Des Plaines, IL - Insurers can now get customized and timely auto and homeowners rating information in an easy-to-use Excel format on a state, regional or countrywide basis through a new product, Fast Track Plus.

Fast Track Plus makes monitoring emerging claim experience on a quarterly basis and one, two and three-year trends easier than ever. The information that insurers need to make competitive underwriting decisions -- earned premium, earned exposure, incurred loss, paid loss, claim frequency, claim severity, pure premium, loss ratio, etc. – is also more easily available. Even better, Fast Track Plus can be purchased on a state-by-state or regional basis, allowing insurers to buy only what they need.

The product was created by Independent Statistical Service, Inc., a wholly-owned subsidiary of the Property Casualty Insurers Association of American (PCI) and enhanced by Pinnacle Actuarial Resources, Inc. from Fast Track data filed with regulators by PCI, ISO and NISS.

Fast Track Plus maximizes Fast Track data with easy-to-read graphs that display trends and compare individual state experience to countrywide figures. In addition, the product includes exponential and straight line of best fit projections for the claim cost, claim frequency and pure premium data.

To make the findings even more useful, Fast Track Plus provides a quarterly analysis by Pinnacle Actuarial Resources, Inc. Pinnacle's analysis provides an in-depth examination of emerging trends and the reasons underlying these changes. Fast Track Plus is offered on an Excel platform, allowing insurers to completely eliminate the costs of manual input and automated calculation of a variety of loss trends.

SOURCE: Pinnacle Actuaries, Inc.