Configuring and Running a Marginal Impact Analysis

 

A Marginal Impact Analysis enables you to view the effect that a specific loss results set (the target or new portfolio) has on another loss results set (the reference portfolio). You can run a Marginal Impact Analysis in Portfolio Mode or in Underwriting Contract Mode.

Creating a Marginal Impact Analysis in Portfolio Mode

In Portfolio Mode, you choose two sets of Detailed Loss Analysis or Loss Group Analysis results for a Marginal Impact Analysis, as follows:

       One set of analysis results serves as the reference portfolio.

       A target set of analysis results serves as the new portfolio.

During a Marginal Impact Analysis, Touchstone combines the results of the target analysis with the reference set of analysis results.

Process overview

To configure and run a Marginal Impact Analysis in Portfolio Mode:

1.      Generate Detailed Loss Analysis or Loss Group Analysis results, for example, by running two detailed loss analyses, in any order. You do not have to run the analyses with the same settings. Note that you can run these analyses in one or more projects. That is, you can run a Marginal Impact Analysis using loss results from multiple projects.

2.      Identify the project that contains the results set that you want to use as the target (new) analysis results.

3.      In the project navigation pane, select Results. Then, select Loss Analyses, Loss Groups, or All Results.

4.      In the results grid, select the target analysis results. This set of results will appear as the "New Portfolio" in the Marginal Impact Results table.

5.      Under New Analysis, select Marginal Impact. The Marginal Impact Analysis pane opens to the Analysis Options pane.

6.      In the Analysis Options pane, select the reference analysis results with which you want to combine the target analysis results set that you selected in step 4. This set of reference analysis results will appear as the "Reference Portfolio" in the Marginal Impact Results table.

7.      In the Region-Peril Set list, select the set or sets that you want to use. AIR recommends that you always include the World All Perils set, along with any other region-peril sets for which you want to view the marginal impact.

8.      Select Analysis Management to configure analysis-specific functions.

9.      In the Analysis Name field, leave the default name or enter a unique, alphanumeric identifier.

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

10.   Click Run. The application adds the analysis to the Activity Monitor queue for processing when the required system resources are available.

  The analysis type in the Activity Monitor is "Impact Analysis," while it is "Marginal and portfolio impact analysis" in the results grid.

11.   View the analysis results.

Creating a Marginal Impact Analysis in Underwriting Contract Mode

In Underwriting Contract Mode, you choose a contract, and Touchstone performs a Marginal Impact Analysis that compares the most recent set of Detailed Loss Analysis results for this contract (the target or new portfolio) against the reference portfolio that you choose.

  When running a Marginal Impact Analysis in Underwriting Contract Mode, Touchstone uses the World All Perils region-peril set for the analysis.

Process overview

To configure and run a Marginal Impact Analysis in Underwriting Contract Mode:

1.      Add or open a contract.

2.      Generate a set of Detailed Loss Analysis results. This set of results serves as the target (new) set of analysis results for this Marginal Impact Analysis. Note that this set of results will appear as the "New Portfolio" in the Marginal Impact Results table.

  Touchstone uses the most recent Detailed Loss Analysis results for a contract as the target (new) analysis results set for a Marginal Impact Analysis.

3.      In the Contract Summary Dashboard, select Marginal Impact. The Marginal Impact Analysis pane opens to the Analysis Options pane.

4.      In the Analysis Options pane, select the reference analysis results set with which you want to combine the target analysis results set that you generated in step 2. This set of reference analysis results will appear as the "Reference Portfolio" in the Marginal Impact Results table.

 
For underwriters to run Marginal Impact Analyses in Underwriting Contract Mode, a user with appropriate permissions must first run a Detailed Loss Analysis in Portfolio Mode on the master portfolio exposure view. The results of this analysis serve as the reference portfolio for the Marginal Impact Analyses that underwriters run in Underwriting Contract Mode. Users with appropriate permissions can run multiple Detailed Loss Analyses and/or Loss Group Analyses in Portfolio Mode on the master portfolio exposure view, thereby providing multiple reference portfolio choices for underwriters running Marginal Impact Analyses in Underwriting Contract Mode.

5.      Select Analysis Management to configure analysis-specific functions.

6.      Click Run. The application adds the analysis to the Activity Monitor queue for processing when the required system resources are available.

  The analysis type in the Activity Monitor is "Impact Analysis."

7.      View the analysis results.

 

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Touchstone V3.0 Updated December 01, 2016