Advanced Relational Software

Risk Management (Property/Casualty) Software and Actuarial Services for Large Corporations - Cost Allocation Samples

Contact:Jim Postilion
(847) 956-1453

Cost Allocation Samples
These "Cost Allocation Samples" require the "Claim", "Exposure", "Insurance Budget", and "Cost Allocation" components of the software to be populated with relevant data in order to be produced.
Debit/Credit Statement This report gives a detailed view of the insurance charges for a specific organizational entity for a particular month. It matches what is sent to the Accounting Department via electronic interface. All figures include "per claim" handling fees where applicable. This report helps build confidence in the field that insurance charges are accurate and being assessed fairly. It can eliminate many questions regarding how insurance charges are calculated.
Debit/Credit Export This is an Excel spreadsheet version of the above report.
Management Summary Report This report was specifically designed to provide upper management with a 1-page snapshot of how they are doing financially with regard to insurance charges. Because the data in this report has been transmitted to Accounting electronically, The "Insurance Charges", "Insurance Budget", and "Variance" columns at the top of this report will balance to the "Actual", "Budget" and "Variance" columns on the General Ledger.
Insurance Cost Trend Chart This chart portrays how total insurance charges are tracking over time, counting the 1st 4 months of each year only. As you can see, this particular organizational unit is doing quite well compared to last year.
Insurance Cost Component Trend Chart This chart portrays the same information as above except it breaks out: "Current Year Claims", "Prior Year Claims", "IBNR", and "Fixed Costs". As portrayed in the chart, this organizational unit is doing exceptional with regard to "Current Year Claims" and "Prior Year Claims".
Insurance Cost Component Pie Chart This simple chart portrays that only 17% of this organizational units insurance charges are due to claims. Since the reverse is usually true, the Division Manager for this organizational unit was told that he/she should NOT expect much more in the way of cost reductions due to the fact that the "Other Costs" ("Fixed Costs" + "IBNR" costs) are not within his/her control.