AASCIF STATBOOK Keeping it Relevant What can the data do for you? Audit and Statistics Track Session 4

Agenda Introduction to the StatBook (5 min) Overview of existing Statbook Where is StatBook located Recent changes Examples of Data Usage Round tables discussions (20 min) Split into 4 groups Discuss prepared questions Round tables report back (20 min) discuss key points from each table Questions? This is what we plan to do in this 50 min track session

The most updated StatBook is on the AASCIF Website: If web access, will log in to AASCIF website ahead of time and go through the steps to open the file and download. Test download first…

Click on “AASCIF STAT BOOK” Link

StatBook is an Excel file with a tab for each Jurisdiction, and captures at least 6 years of information that is mostly available on a company’s NAIC Annual Statement (show 1 state, next slide) (go back to this slide) The most recent year of benchmark statistics for each jurisdiction is shown on the “Summary Stats” tab (left most tab) along with the accounting Basis and end date of the data shown. Several changes were made to the StatBook this year, mostly involving cleanup of information, correcting formulas, formatting, removing graph information that was taking up space, etc. This “Summary Stats” page had no formatting (8 decimal places), broken macros, incorrect links, etc. It’s a little cleaner now. This summary page alone can be used for several different types of comparative analyses among jurisdictions. (Skip to the graphs)

Here is all the Data collected by Jurisdiction Here is all the Data collected by Jurisdiction. Most of it is readily available on an NAIC Annual Statement, but for those jurisdictions that do not report to NAIC, a lot of the information is commonly needed for any annual report. At the bottom of each tab is a group of 11 benchmark statistics that are calculated based on the data input by the jurisdiction We did some cleanup on the Jurisdiction pages, removed extra years, bold indications a formula, revised the contact area, etc. (go back to summary stat page slide)

Example 1 – Combined Ratios by Jurisdiction * Indicates the Jurisdiction updated it’s data within the last year (2014, still updating 2015)

Example 2 – Premium to Surplus Ratios by Jurisdiction

Let the Discussions begin

Let the Discussions begin Round table discussion topics: How have you used the AASCIF Statbook in the past? Which data elements are most difficult to populate? Are there data elements you would like to see added? Are there data elements you would like removed, or are unnecessary? Any suggestions regarding formatting, summarizing jurisdictional information? Any suggested Instruction changes or ways to improve data gathering methods? Would users like a dashboard or graphs to display results? If so, what information?

Thank you for coming! We will use your input to make improvements to this important benchmarking tool.