Fast Track Plus Assisting Trend Monitoring Capabilities

Insurers can now get customized and timely auto and homeowners
rating information in an 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 reportedly 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 reportedly more easily available. 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 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 reportedly even more useful, Fast Track Plus provides a quarterly analysis by Pinnacle Actuarial Resources Inc. Pinnacle’s analysis provides an 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.

To purchase Fast Track Plus, contact Jeff Patris at jeffrey.patris@pciaa.net, Mark Siwek at mark.siwek@pciaa.net or LeRoy Boison at lboison@pinnacleactuaries.com.