Creating a New Catastrophe Peril Analysis

 

You can perform a catastrophe peril analysis in Portfolio Mode or in Underwriting Contract Mode.

Creating a New Catastrophe Peril Analysis in Portfolio Mode

In Portfolio Mode, you choose one or more exposure views or a single contract as the target for a catastrophe peril analysis.

Process overview

To perform a catastrophe peril analysis in Portfolio Mode:

1.      Create a project or open an existing project.

2.      To perform an analysis on an exposure view, in the Project Data pane, select the name of the desired exposure view. Alternately, create a new exposure view. To perform an analysis on a single contract, open the desired exposure view. If the Exposure Summary Dashboard appears, select Contract List and then select the desired contract.

3.      With the exposure view or contract selected, in the New Analysis area of the navigation pane, click Detailed Loss (if you highlighted an exposure view) or Contract Loss (if you highlighted a contract). The New Detailed Loss Analysis pane appears.

 

If you are analyzing a single contract in an exposure view that has a filter applied, the contract analysis considers the entire contract and does not take the filter definition into consideration during the analysis.

4.      If necessary, select a loss analysis template in the Template field. Administrators create loss analysis templates to specify defaults for analysis settings.

5.      If the analysis target is an exposure view and you want to run the analysis on multiple analysis targets, click the down arrow in the Analysis Target field, and then select the analysis targets that you want to use. (The down arrow does not appear if you selected a contract as the target.)

6.      In the Model list, select the model set that you want to use when performing this catastrophe peril analysis. To use the AIR model(s), select AIR Default. If you want to use an external model set, such as the ERN models, select External Model.

  The external model integration feature requires a separate license per external model.

7.      Note the percent of non-geocoded exposure message. Since Touchstone does not generate results for non-geocoded locations, you may want to fix the data before running the analysis, if the percent of non-geocoded data is high.

8.      In the Analysis Settings pane, select Catastrophe Peril Analysis.

9.      In the Loss Diagnostics area, select and configure each of the following diagnostics:

       Analysis Settings: Enables you to configure analysis settings, such as selecting the event set.

       Reinsurance: Enables you to select the reinsurance programs to apply and to configure facultative reinsurance (optional). Touchstone will validate your selections, ensuring that you have the appropriate reinsurance for the exposure data that you are analyzing. It will do a quick check to make sure that any LOB (line of business) applied to your exposure data, and any Surplus Share Treaty IDs, match between the selected reinsurance program and the exposure data. Touchstone also validates inception and expiration dates; it does a minimum and maximum comparison between treaty inceptions/expirations and contract inceptions/expirations to ensure that the treaty-in-force dates are in synch with the contracts, so that they will be applied.

  You cannot apply reinsurance if you are performing a catastrophe peril analysis using the ERN models.

       Output: Enables you to configure how to save the loss results.

       Analysis Management: Enables you to configure analysis-specific functions.

10.   In the Analysis Name field, leave the default name, which includes the exposure view name or the contract ID and the type of analysis, or enter a unique alphanumeric identifier.

  Entering some combination of the exposure view name or the contract ID along with the analysis type enables you to find result sets quickly in the Activity Monitor.

11.   Click Run. The application adds the analysis to the Activity Monitor queue for processing when the required system resources are available and as soon as any specified scheduling and priority conditions are satisfied. Click here for information about resubmitting the job from the Activity Monitor.

Creating a New Catastrophe Peril Analysis in Underwriting Contract Mode

In Underwriting Contract Mode, you choose a single contract as the target for a catastrophe peril analysis.

Process overview

To perform a catastrophe peril analysis in Underwriting Contract Mode:

1.      Open the desired contract to view the Contract Summary Dashboard.

2.      In the navigation pane, click Detailed Loss. If Touchstone has not yet run a Detailed Loss Analysis on this contract, the New Detailed Loss Analysis pane appears. Alternately, if Touchstone has already performed a Detailed Loss Analysis on this contract, the results of the most recent Detailed Loss Analysis appear. In this case, click Analysis Options to configure a new catastrophe peril analysis for this contract. The New Detailed Loss Analysis pane appears.

3.      If necessary, select a loss analysis template in the Template field. Administrators create loss analysis templates to specify defaults for analysis settings.

4.      In the Model list, select the model set that you want to use when performing this catastrophe peril analysis. To use the AIR model(s), select AIR Default. If you want to use an external model set, such as the ERN models, select External Model.

  The external model integration feature requires a separate license per external model.

5.      In the Analysis Settings pane, select Catastrophe Peril Analysis.

6.      In the Loss Diagnostics area, select and configure each of the following diagnostics:

       Analysis Settings: Enables you to configure analysis settings, such as selecting the event set.

       Reinsurance: Enables you to select the reinsurance programs to apply and to configure facultative reinsurance (optional). Touchstone will validate your selections, ensuring that you have the appropriate reinsurance for the exposure data that you are analyzing. It will do a quick check to make sure that any LOB (line of business) applied to your exposure data, as well as any Surplus Share Treaty IDs, match between the selected reinsurance program and the exposure data. Touchstone also validates inception and expiration dates; it does a minimum and maximum comparison between treaty inceptions/expirations and contract inceptions/expirations to ensure that the treaty-in-force dates are in synch with the contracts, so that they will be applied.

  You cannot apply reinsurance if you are performing a catastrophe peril analysis using the ERN models.

       Output: Enables you to configure how to save the loss results.

       Analysis Management: Enables you to configure analysis-specific functions.

7.      In the Analysis Name field, leave the default name, which includes the contract ID and the type of analysis, or enter a unique alphanumeric identifier.

  Entering some combination of the contract ID along with the analysis type enables you to find result sets quickly in the Activity Monitor.

8.      Click Run. The application adds the analysis to the Activity Monitor queue for processing when the required system resources are available and as soon as any specified scheduling and priority conditions are satisfied. Click here for information about resubmitting the job from the Activity Monitor.

 

 

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Touchstone V3.0 Updated December 01, 2016