Your Loss History Analysis Agent Turns Loss Runs Into Pricing
What it takes off your plate
The AgentWorks Loss History Analysis Agent takes loss runs from request to finished loss summary, so your commercial account manager spends the week with policyholders and your producer spends it in front of prospects instead of retyping claim lists from several carriers.
Here is how loss history usually gets handled at an independent agency. A commercial account is coming up for renewal or shopping for a new carrier. Someone sends letters of authority to each prior carrier and waits. The loss runs arrive over weeks, each in its own format: one a PDF, one a spreadsheet, one a scanned page missing the reserve column. Then the account manager builds a spreadsheet by hand, adds up incurred losses, tries to spot whether claims are getting more frequent or more severe, and writes a paragraph for the underwriter. Details that matter for pricing, such as whether a large claim is closed or what caused it, are often missing.
That work eats the weeks before a renewal, the same weeks when the policyholder needs their account manager most.
What the Loss History Analysis Agent does, step by step
The Loss History Analysis Agent starts with the requests and follow-ups, then does the analysis.
- Requests the loss runs. With the signed letter of authority on file, it emails each prior carrier or wholesaler a loss run request with the policy numbers and the years of history your submission needs.
- Chases what has not arrived. It follows up with each carrier on a steady schedule and tells the account manager which runs are still outstanding.
- Asks for missing details. When a loss run leaves out something that matters, such as claim status, cause of loss or open reserves, it writes back to the carrier and asks for it.
- Keeps the policyholder informed. It lets the client know which carriers have responded, so the account manager is not fielding "where are we" calls.
- Normalizes the data. It reads each loss run whatever the format and lines every claim up in one table: date, coverage, cause, paid, reserved and status.
- Calculates trends. It totals incurred losses by coverage and year and shows frequency and severity trends side by side.
- Drafts the loss summary. It writes a loss summary for the underwriter, including the trend, any large or open claims and what the policyholder has done since, such as a new safety program, for the account manager to review.
The Loss History Analysis Agent does not price the account or promise terms. It prepares the analysis for your account manager and producer, and the underwriter makes the pricing decision.
Where the work is recorded
An agent that cannot record its results is a chatbot. Every request, follow-up and carrier reply is logged on the account in your agency management system, such as Applied Epic or HawkSoft, and in the CRM your team already uses, so a person can pick up exactly where the agent left off.
The original loss runs, the normalized claim table and the loss summary are saved to the account's file, ready to attach to the submission.
So the next morning your account manager opens one list: which accounts have complete loss history, which carriers still owe a loss run, and which summaries are drafted and waiting for their review.
A clean loss summary is what makes a submission complete, as in how the Underwriting Submission Preparation Agent helps you market faster and why agencies win more households when every quote arrives complete.
What your people do instead
Your account manager stays with policyholders. Instead of retyping claim lists, they visit the contractor to walk through the new safety program, answer the business owner's question about coverage and help a client whose certificate is needed today.
Your producer walks into the renewal meeting with a loss summary that explains the account's story, and talks with the client about what the trend means for them, not about why the loss runs have not come in yet.
The agent keeps the requests, the follow-ups and the numbers moving. Your people keep the relationships that renew year after year.
One next step
Not sure loss history is the first workflow to hand over? The free Insurance Industry Assessment shows which workflow an agent should take first in your agency. To see the AgentWorks Loss History Analysis Agent alongside the rest of the insurance team, visit the Insurance industry page.
See where the Loss History Analysis Agent would start in your insurance business.
I'm Franklin, the Insurance ambassador here. The free Industry Assessment reads your website and asks how calls, follow-ups and records happen today, then shows the first workflow worth handing to an agent like this one — and what your team gets back. Leave your email and I'll send the link.
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