Drilling down into cost data for greater efficiency

A syndicate recognised that it did not have sufficient understanding of its loss adjustment and legal expenses. It wanted to be able to compare these expenses with corresponding indemnity payments to see where efficiencies could be gained.

Some details were provided in the Syndicate Claims Messages (SCMs) issued but these were not sufficient.  It was ascertained that more information could be supplied by Xchanging and as an analyst I took on the task of looking at all the data and creating usable conclusions.

With the constraints of Excel at the time, 300,000 rows of data made this a job for Access.  I imported the data and created a series of queries to provide answers.  In spite of various data integrity issues I was able to produce a fair analysis of the syndicate’s expenditure on lawyers and adjusters by class of business, size and nature of loss.

The client described the final report as an ‘excellent piece of work’.

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