Finding Value in Your Data
Good decisions require good analysis. Shelter Island Risk Services works with Risk Managers to translate their ideas into actionable, cost-reducing reality.
RMIS: a Practical Definition – the ‘music’ is not in the piano
While many refer to RMIS as a system, that choice is not complete, and may be misleading. Recognizing it as an interconnected service is more complete. A system implies ‘automatic’ whereas a service requires conscious user involvement. We all have direct experience with systems. We use them for heating, plumbing, and electrical functions every day. [...]
The Flaw of Averages
Pitfalls of Averages in Risk Management and Claims Applications We all know the big three: counts, total incurred and average. The first two come directly from your claim data and the average is simply computed by dividing the total incurred by the claim count. They are valuable statistics and provide useful insights—especially when you compare [...]