Importance

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Abstract

A system and method for predicting, comparing, and presenting the cost of self insurance versus insurance for property, casualty, or employee benefit liabilities, and for creating bond financing when advantageous. For a self insured entity, the cost of insurance is estimated by reviewing available data from actuarial studies, claims audits, loss runs, similar self insureds, recent similar insurance deals and rating agencies. These preliminary pricing estimates are used to decide if pursuing insurance is likely to provide savings to the self insured. Suggested pricing estimates are also provided to facilitate marketing the program to insurance carriers. If a carrier offers an insurance program which provides savings and the insured entity requires bond financing, the system is adapted to calculate bond payments based on budget constraints or claims payout patterns.

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First Claim