How can PCS insured loss estimates assist the claims management process in my company?
The PCS loss estimates provide timely benchmarks in evaluating the average cost per claim by line of insurance. By applying a market share analysis to the totals, companies can benchmark their reserves. Because PCS gathers and reports information within weeks of the event, these benchmarks provide an opportunity to identify issues and implement solutions early in the process. In addition, descriptive information in the Catastrophe Bulletin provides valuable insights such as the types of damages being experienced, regulatory and/or governmental reactions, meteorological information and other factors (e.g., demand surge).
