Create a new detailed loss analysis
Select multiple exposure views or contracts as the target for a detailed loss analysis.
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.
Procedure
- Create a project or open an existing project.
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Do one of the following:
- To perform an analysis on one or more exposure views, in the Project Data pane, highlight the exposure view or views you want to specify as the analysis target. If necessary, create an exposure view.
- To perform an analysis on one or more contracts, open the exposure view that includes the contract or contracts. If the Exposure Summary Dashboard appears, select Contract List and then highlight the contracts you want to specify as the analysis target or targets.
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Select Run Analysis and then select Detailed Loss.
The New Detailed Loss Analysis pane appears.
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[Optional] Select a template.
Administrators create templates to specify defaults for analysis settings.
Verisk provides two loss analysis templates: AIR Default Loss Template and Florida Rate Filing Analysis template. The latter template is used to run analyses only with the settings required by FLOIR (Florida Office of Insurance Regulation) for rate making. Some settings available to other analyses are not available in this template. For example, you cannot select a model and you can only select one of two Florida regulatory event sets. You can only select the Wind peril and cannot select event set filters, financial settings, or flexibility.
- To include additional exposure views or contracts to run simultaneously in separate analyses, select them in the Analysis Target list.
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In the Model list, select the model set that you want to use when performing
this analysis.
The Model field is not available when you select the Florida Rate Filing Analysis Template.
- To use our model(s), select AIR Default.
- To use a custom model, created through Model Builder, select User Model.
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Review the percent of non-geocoded exposures. The percent is based on location
count.
If the percent of non-geocoded data is high, fix the data before running the analysis. Touchstone does not generate results for non-geocoded locations.
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In the Loss Diagnostics area, configure each of the following
diagnostics:
Option Description Analysis Settings Configure analysis settings, such as selecting the event set. Reinsurance [Optional] associate each analysis target with a reinsurance program and configure facultative reinsurance. Touchstone applies a reinsurance program only if data in the reinsurance program matches data in the exposure view. Output Configure how to save the loss results. Analysis Management Configure analysis-specific functions. -
[Optional] In the Analysis Prefix field, enter a prefix to distinguish between
analysis results when you run an analysis with multiple targets.
Touchstone generates separate analysis results for each analysis target.
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In the Analysis Name field, if the analysis target is a single exposure view or
contract, you can leave the default, which is the exposure view name or the contract ID
and the type of analysis, or you can enter a unique alphanumeric identifier.
When the analysis target is a single exposure view or contract, 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. If the analysis target includes multiple exposure views or contracts, you cannot change the default name, which is Auto name ('n' items).
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Click Run.
If you selected a user model with one or more damage function sets, the analysis uses all the custom damage functions in the same analysis. Touchstone also runs an AIR version of the detailed loss analysis.