Comparing Apples and Oranges
IPM reviews the cash inflows and cash outflows for various types of claims (high risk, moderate risk and low risk claims) for coverage and claim payment of each insurance policy. The relative value of different insurance policies are evaluated numerically. The IPM Index is the ratio of Cash Inflow/Cash Outflows. A lower index is more favorable. Company Policy Coverage Rating We provide a standardized method and numerical rating system of evaluating coverage, projected claim payment and premium of different insurance policies using a statistical sampling of actual accounts based on over 25 claim (projected probability and severity) simulations. for cyber insurance, to provide consistency, cyber attack modeling and simulation is the same for all insurers and is based on an account’s business segment, probability of attack, security protection, revenue size, geography, number of personal customer/client/patient records and number of employees. Information is obtained from the policy declarations and the application. The insured is not identified.
Go to Insurance Policy Metrics Demo *Insurance Policy Metrics is patent pending with the United States Patent Office (USPO) |
Insurance Policy Comparison
Questions How to Compare:
It depends and the IPM index can help a user make a decision. Users can access IPM through our online portal. An account policy analysis and a group account analysis is available. Important: Potential losses are never known with certainty, Generally, in retrospect a large loss payment and high premium is “more favorable” if you knew with certainty a loss would occur. However, you do not know and cannot predict the future. The Insurance Policy Metrics Index enables a user to weigh the significance of premium vs. coverage at the time of insurance purchase. Insurance Policy Metrics (“IPM”) Relative Value Total Cash Outflow = Premium Amount + Retention/Deductible/Co-Payment Amounts + Amount Not Covered Total Cash Inflow = Paid Claim Amounts + Legal Expenses + Fines + Penalties + Other Paid Amounts Relative Value of Insurance Coverage = Total Cash Outflow/Total Cash Inflow *On a relative basis the higher the number the better value of the coverage |