Optimizing Financial Reporting for Risk Sharing Pools in Auto Insurance

The Problem

The Risk Sharing Pools (RSPs) in Ontario, Alberta, New Brunswick, Nova Scotia, Newfoundland, and Labrador allow automobile insurance companies to transfer certain private passenger vehicle policies. Insurers need a reliable way to model and report the financial benefits of ceding these policies to the RSPs, ensuring accurate financial planning and decision-making.

The Solution

Dimensional Strategies Inc. (DSI) implemented a comprehensive reporting solution that enabled our client to model and report the financial benefits of ceding policies to the RSPs. This solution provided detailed insights, allowing for better decision-making and effective financial planning around policy transfers.