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The risk management as most areas of management is based on the premise of Philip Kotler "that can be measured and can bemanaged". An insurance/s administered or managed by the information of the loss profile or losses that are expected to produce. Broken down into 'damage frequency and impact/damage cost'. Which is the starting material, the base from which the information is extracted. The profile is based on risk management and appropriate strategy.

Example

For a damage frequency (x) with severity (y) or claim cost = a Profile with which we select the appropriate program or an alternative risk management.

RISK STRATEGIES


RISK DATA ANALYSIS & FORECASTING

RISK DATA

Presentation of data gives a picture of the damage causes. The losses in resolution with respect to time would reveal the causes that increase the premium or in contrast to the causes that will reduce it.

Determination of average loss, determine the most effective and most advantageous discharge in relation to the contract of P & I Club.

CLAIMS RESERVING

CLAIMS DRIVERS

The case is indicative of the crew and regards industry

CAUSE

 Distributed

Death &Permanent Disability

8%

Lost Wages

41%

Hospital costs,

 Medical costs

4ο%

Repatriation &Substitution costs

11%

source: Hellenic Association of Insurance Companies, 2012

ANALYSIS

Most outstanding claims related to influences on temporary disability (41%) are almost equally divided hospitalization (18.6%) and outpatient care (21.5%). Below are homing-replacements (11%). Smaller part relates to facts about death (7.4%) and minimum of the permanent disability (0.3%). The figures compared with those of the 20011 show little increase in large losses (thanatoi- MDA), wage rates, exonoskomeiakon expenses, repatriation and replacement remain unchanged, a reduction presents posoato of hospital care.

RISK MODELLING

Econometric analysis of a company in modern times, the market complexity and the dynamic of growing daily with the rapid development of technology becomes extremely difficult and requires high skill and training. Even if the best managers are able to take into account a large number of factors that affect the target, it is humanly impossible to take account of all possible combinations of interaction of these factors, without the use of econometric models, it is impossible to make an accurate quantitative assessment the interaction of these factors in the target company.

Depending on the problem, our team selects an appropriate mathematical model (documented econometric) to be used to resolve, so that the results are accurate quantitative and qualitative utilisable

EVEN: used in management of the non insurable risks. Non- insurable risks can be (a business choice, a marketing option, an investment option). Equally important for the survival and prosperity of the company

The risk management is mainly applied to companies with multiple and complex risks. If you are interested in statistical analysis, damage calculation costs, alternative ways of risk financing please call tel. 210 4122975 or fill out the contact form.

For any additional information please contact us.

Contact Info

60 FILONOS ST. PIRAEUS, 18535
210.412.2975
 697.445.5584
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