Measuring Market Risk-5

  
You will assume the role of a senior analyst hired by a fictitious company, Premium Acceptance, a midsized property insurance carrier. Premium Acceptance is performing well with respect to several key performance indicators, including policies in force, policy retention, and new business counts.
However, the company’s bottom line has been hindered due to poor loss ratios. A loss ratio is simply the difference between the ratios of claims paid by an insurance carrier and the ratio of premiums paid. The board of directors depends on the ability to forecast loss ratios, which in turn enables them to forecast profitability metrics to the shareholders. The organization will now consider implementing the use of statistics for measuring risks.
   
NOTE: Be sure to review Standard   Deviation and Variance 
Minimum three-page paper (not including APA title or references pages). 
Please address the following:
Provide a general overview of statistics and how they support the risk assessment process.Discuss      at least two statistical tools that can be employed to measure risk.
Convey      which tool best serves the company’s purposes and explain why it is.
What      are the ramifications of the organization electing not to use statistics      in this process?APA Format
Be      sure to include an introductory paragraph at the beginning and a      concluding paragraph at the end of your paper.
Because      your paper is required to be at least three pages in length, you should      use subject headings to label your paper as appropriate.
Be      sure to include APA citations to support your assertions and to inform      your paper.
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