Dynamic TCOR

Dynamic TCOR presents a holistic, concise view of your Total Cost Of insurable Risk (TCOR) across all classes of insurance.

This tool propels TCOR beyond a simple budgetary view. This dynamic perspective includes risk as an added dimension. Beyond budgetary, total cost with risk insight.

Dynamic TCOR captures known costs and expected retained losses for all major coverages within your insurance portfolio. Willis Towers Watson's proprietary suite of risk specific loss models simulate loss outcomes at the full range of likelihood levels, demonstrating potential TCOR volatility and enabling evaluation of risk transfer.

  • Evaluate Risk Holistically by displaying retained loss outcomes across all major coverages.
  • Scrutinize the Risk Transfer Strategy through an explicit calculation of financial benefit across a broad spectrum of loss outcomes. See how often you expect your losses to fall short of your insurance spend and how often you should win the "insurance bet".
  • Identify the risk drivers which expose your corporation to significant adverse outcomes.

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Why should you use Dynamic TCOR?

  • Use it to gain a single, holistic view of cost for all insurable risks.
  • Use it to gain insight into loss volatility for each class of insurance. The tool connects to our suite of risk-specific models, providing best-in-class risk clarification for a breadth of insurable risk.
  • Use it as an overall scorecard which assesses the value created by your insurance strategy and spend.
  • Use it to explore alternative insurance strategies and dynamically view the corresponding impact on volatility and TCOR.

For whom is it appropriate?

  • Any company that buys insurance and wants to explore the risk/return equation.
  • No company is too large or too small to benefit from this tool.

What geographies does this tool support?

  • This tool is ultimately for all clients, in any country.
  • The initial release in April 2017 will include 24 insurance classes with international and US applicability. See these classes and the geographic coverages of each listed below.
  • We will continue to add more classes and country specific variations as we gain data and insight globally.

When should you use Dynamic TCOR?

  • Use this tool when renewing your company's overall insurance program or when considering changes to individual insurance coverages.

What can I do with information gained from Dynamic TCOR?

  • Evaluate which classes of insurance drive total cost of risk and make targeted adjustments to the insurance program.
  • Identify risks which would benefit from a more tailored, deep-dive analysis from the spectrum of other Risk & Analytics approaches.
  • Assess whether the current insurance strategy is in line with your company's overall Risk Tolerance.
  • Answer the question "when does my insurance strategy pay off". Demonstrate that insurance creates a more predictable environment: reducing volatility, improving stability, protecting from tail risk.