Metrics
The ratio of successes to total cleared submissions
What is Bind Rate (Win Rate)?
The most common deductible amount on all Ledgebrook bound policies (41% of bound premium)
What is 5,000?
ALAE
What are Allocated Loss Adjustment Expenses?
The (temporary?) name of the planned next gen Ledgebrook rating platform created and demoed by Dom, Jerome, and Michael after the September Hackathon
What is Rate Difference?
Ledgebrook's favorite type of cookie
What is chocolate chip?
The actuarial price recommendation for an account
What is Technical Premium?
Dating back to Ledgebrook's inception, we've both rated (25%) and bound (16%) the most premium in this state
What is Florida?
ULR
What is Ultimate Loss Ratio?
This screen in Socotra shows a summary of the total Gross Premium amount, as well as the Technical and Final Premium by Exposure
What is Price Breakdown?
Color dress that Keith wore in a 5k run
What is red?
Judgment factor applied by an underwriter to modify price based on risk characteristics not otherwise contemplated in rating
What is Schedule Mod(ifier)?
To the nearest thousand, number of submissions Ledgebrook cleared in October 2024 across both Casualty + PL
'What is 4,000 (3,729)?
ISO
What is Insurance Services Office?
The general term used in Socotra to describe a Class Code. At least one of them must be added for each Location.
What is a Peril?
Ledgebrook's favorite Summer Olympics sport
What is basketball?
Method of rating that incorporates an insured's own loss history
What is Experience Rating?
To the nearest percent, Ledgebrook's historical bind rate on all prior cleared submissions (through Eff Month October)
What is 4%?
IBNR
What is Incurred but not Reported?
An island of Yemen in the Indian Ocean lying between the Guardafui Channel and the Arabian Sea. It is the largest of six islands in an archipelago that shares the same name.
What is Socotra?
Joe created this spooky prop to scare unsuspecting passersby in his neighborhood
What is a Pop-up Coffin?
Production, Profitability, Portfolio, & Performance
What are Ledgebrook's Tenants for Measuring Success?
To the nearest ten million, amount of total premium Ledgebrook has bound to-date in 2024 (through Eff Month October)
What is 50 Million ($53M)?
IBNER
What is Incurred but not Enough Reported?
'Dropdown under the Quote section of the Policy Details tab in Socotra that should be completed when an opportunity was lost/not pursued. Examples of selectable options include 'Stayed with Incumbent' and 'Out of Appetite'.
What is Closing Reason?
Wayne visited this Disney theme park location in July
What is Disneyland Paris?