Maine Employers' Mutual Insurance Company (MEMIC) Licenses Millbrook's demographically sensitive "At Risk Lives" statistical model for Workers' Compensation
Millbrook Incorporated announced today that MEMIC licensed and implemented the "At Risk Lives (ARL)" model, a component of Millbrook's information suite, in the 4th quarter of 2003. The ARL model was developed in response to the industries need to understand exposure concentrations as a result of the September 11, 2001 terrorist attacks. The ARL facilitates analysis related to underwriting, loss control, and reinsurance and compliance issues at both the state and federal levels.
Lehigh Valley, PA (PRWEB) February 19, 2004 --Millbrook Incorporated announced today that MEMIC licensed and implemented the "At Risk Lives (ARL)" model, a component of Millbrook's information suite, in the 4th quarter of 2003.
The ARL model was developed in response to the industries need to understand exposure concentrations as a result of the September 11, 2001 terrorist attacks. The ARL facilitates analysis related to underwriting, loss control, and reinsurance and compliance issues at both the state and federal levels.
John Search, VP of Millbrook stated, "ARL enables companies to effectively and accurately address demographically accurate exposure information without the time or expense required to modify legacy systems and capture the data and develop reporting mechanisms."
Gary Baxter, VP and CIO of MEMIC stated, "By implementing ARL, we are now able to pinpoint our exact exposures by geographic location which allows us (and our reinsurers) to more accurately assess potential losses due to terrorist or other large-scale disasters. We are also looking at ARL as a tool to maximize the efficiency of our regional service providers by aligning them with the appropriate geographic concentrations."
###
|
