23 May 2022
2 Min Read

How do you assess our situation without our claims data?

We have designed our Healthcheck products so that they do not need you to provide any claims data, policy documents etc. So how do we assess your situation without this information?

Overleaf is an extract of the first few questions in both our “Initial Healthcheck” and “Full Healthcheck”:

In “Your Past” we ask a total of 11 questions (tick boxes) in 4 key areas (8 questions/3 key areas shown above)

An Initial Healthcheck is c20 questions (tick-boxes) in 16 key areas.

A Full Healthcheck is c60 questions (tick-boxes) in 40 key areas.

  1. Questionnaire
  2. Your Past

Purpose: Robust understanding of historic risks and claims data, essential as a sound basis to understanding future risks, your risk financing options and their risks/benefits.


01 (Balance Sheet) Reserves   We have finalised (signed) actuarial/other review for our historic insurance liabilities within the last 12m, which was TAS 100 compliant (FRC [Financial Reporting Council] reporting standard); the results were used in our published accounts”
The reserving accuracy/model reliability of the actuarial/other reserve review was documented in the report; we understand the reliability/limitations of the models used
Please tick if you have any of these types of risks/liabilities, whether insured or not: (tick as many as applicable)
UK Asbestos
UK Child Abuse (including Redress Schemes/Settlement Trusts)
UK Pollution or other Health-Hazards (eg smoking, wifi radiation, EMFs etc)
UK Single or Multi-employer Settlement Trusts (eg asbestos claim- sharing/no-fault schemes)
Any other large UK class actions (whether insurable/insured or not, eg equalpay litigation)
Any of the above risks in non-UK jurisdictions?
Do you have liabilities (or profit-shares) in relation to insurance offered to your customers (eg warrants, car/home insurance etc)
02 Data Inventory   We have a complete inventory of internal claims and policy data, it’s reliability (for the insurance Act 2015), any gaps, uninsured periods and the financial impact on reserves of any “gaps”.
We have documentation and clarity of any external data used (eg asbestos claims peak) and it’s applicability to our situation (eg asbestos male peak vs female peak)
03 Core Risk Metrics   We have a complete inventory of core risk metrics (frequency, severity, cash-flow term) for all classes, for all historic claims and policy years. We use this to estimate accurately future total cost of risk.
We have a complete inventory of core risk metrics (frequency, severity, cash-flow term) for all historic large claims (say all claims

> £250k). We use this to determine the best risk financing approach for future large claims, in conjunction with our balance sheet size, balance sheet strength and cost of capital.

We have complete understanding of insurer(s) profits from our risks (including investment income) for all classes of business, for all policy years