Here at SchemeServe we like to support education within the insurance industry and with that in mind… we’ve developed a completely free to use and access, underwriting claims ratios calculator.
It can be used to calculate Claims Loss Ratio, Expense Ratio and Combined Ratio quickly and easily. We hope that it will be a useful tool for students and underwriters alike. If you teach students about these aspects of insurance, we’re happy for you to use it as a demonstration tool too.
How to Use the Underwriting Claims Ratio Calculator
To use the calculator first you have to add a claim:
Then you add the claim by selecting the date from the calendar and entering the amount of the claim in the Amount box provided and then, finally click on the Add button:
You can add multiple claims by clicking the Add New Claim button again and adding another claim each time. To delete a claim just click on the red cross by the side of it.
Then click on the Change icon to enter the Net Earned Premium and Underwriting Expenses:
Then enter the Net Earned Premium and Underwriting Expenses in the boxes provided and then click the Change button to finish the process:
The Claims Loss Ratio, Expense Ratio and Combined Ratio will then be automatically calculated at the right hand side of the screen.
You can use the underwriting claims ratios calculator as often as you like.