Third Party investigates emerging claim trends in third party motor insurance

Objectives:

  • analyse trends in average cost, frequency, burning cost and heads of damage for:
  • third party property damage (TPD) claims;
  • capped (<£100,000 in 2010 money terms) third party bodily injury (TPI) claims; and
  • excess (>£100,000 claims in 2010 money terms) TPI claims; and
  • geographical analysis by major postal towns/cities for the key TPI/TPD metric
  •  trends in average cost, frequency, and burning cost associated with motor own damage claims
  • work in conjunction with the Third Party Consultation and Communication and PPO Working Party to ensure that key messages of interest to the industry, consumers, the press or government bodies are appropriately aired
  • ​collect additional data from within the market or from other sources as the working party sees fit
  • maintain appropriate standards with respect to competition law – in particular no individual company actuary will see any data other than aggregate market data and there will be no discussion around pricing related matter
  • all data processing will be hosted by Willis Towers Watson

Outputs:

2020:

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Chair: Simon Black
Membership: 12
Established: 2009

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Contact Details

If you want more information about this research working party please contact the Communities Team.

professional.communities@actuaries.org.uk

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