Oortfolio consumes data from a standardized data template. With the instructions below you can seamlessly upload your portfolio into Oortfolio. It is important that the data is prepared in the exact format outlined in the template for Oortfolio.
Step 1: To download the Oortfolio data submission template, access the “All Portfolios” page in Oortfolio. Click on Upload
Step 2: Click on Download Template.
Step 3: Fill out the template. View the tab READ ME for a short description of the contents of each tab in the file.
- Data Fields tab contains the information you need to know about the columns on the tabs “Data Template – Policy”, “Data Template – Portfolio” and “Data Template - Reinsurance”. The field name, type of data, size of data and a brief description of data are included for each field. The template denotes whether the field is required in order for the policy to be modeled. Additional fields are included that are not required for the policy to be modeled but may be considered in future model versions.
- Data Template – Policy tab is used to collect the policy level data on the portfolios. The data you provide on this tab helps Praedicat determine the company and industry to which the policy belongs. The columns marked in orange are data fields consumed by Oortfolio for uploading. Each column denotes if the data field is required or optional.
- Data Template – Portfolio tab is used to collect the portfolio level data. The Litagion® agent list in “port_Litagion_excl” indicates portfolio level exclusions. The column “port_other” can be used to capture any additional information to consider when analyzing casualty catastrophe exposure. The columns marked in orange are data fields consumed by Oortfolio for uploading. Each column denotes if the data field is required or optional.
- Data Template - Reinsurance tab is included to indicate potential fields that may be used in the future for the modeling of reinsurance policies. At present, none of these fields are consumed by Oortfolio. Reinsurance treaty modeling is on the roadmap for future model development.
- You can find a list of companies that are profiled in the Praedicat database on the Oortfolio Companies tab of the template.
- Insureds that cannot be matched to a company in the Oortfolio Companies tab may be modeled using NAICS, ISO CGL or SIC codes.
- Oortfolio NAICS-6 Digit tab provides a list of NAICS codes.
- Oortfolio ISO CGL tab provides a list of ISO CGL codes.
- Oortfolio SIC – 4 Digit tab provides a list of SIC codes.
- Complete the downloaded data submission template with the portfolio(s) of data that you would like to model. Be sure to save the template as an .xlsx file.
- Upload the data submission template to Oortfolio by following the steps outlined below:
Step 4: Access the “All Portfolios” page of in Oortfolio. Click on Upload.
Step 5: Click Choose File. Select the completed data template. Click Upload File. After upload, you will be taken to the upload history dashboard which shows the history of all uploads, including the status of your portfolio.
Step 6: You will receive an email when the portfolio has uploaded to Oortfolio. Validate the portfolio by following the hyperlink in the email or accessing the Upload History. You can view status by clicking Upload History and then clicking in the hyperlink in the Status column of the upload history dashboard.
Step 7: Validate the data by scrolling to the right in the portfolio and policy tabs and viewing the “IsValid” column, which indicates whether the portfolio or the policy can be uploaded to Oortfolio in its current format or value. If the value in the “IsValid” column is “False”, the “ErrorMessage” column contains the details about the issue with the portfolio or policy. You can download the validation report by clicking Export. You can use this information to edit and reupload the template. Be sure to save the template with a new name to avoid receiving an error message on upload.
Step 8: After validating the portfolio, you can continue the process of uploading the data into Oortfolio using the Continue button at the bottom.
Step 9: You will receive an email notification when the processing of the portfolio is complete, and the email will include a link that leads directly to the portfolio results page. You can also see the results by clicking the portfolio link in the upload history dashboard.
- Which policy year should we include?
The Praedicat model currently calculates loss based on the current policy year and does not take into account the effective or expiration date of the policy. Therefore, the data may be from any policy year, however the results will reflect as if the policy written is in the current policy year. Also, including identical policies from different policy years will result in identical model results causing duplication.
- What are the unique parameters of the policy used in modeling?
The unique parameters considered in modeling include the company identifier (either company name or industry code), trigger, attachment, limit and quota share.
- How does Praedicat define a duplicate record?
Praedicat defines a duplicate record in terms of the unique parameters used in modeling (see FAQ 2). If two policies have an identical set of unique parameters, the record is considered a duplicate. Praedicat recommends removing duplicate records to avoid duplicated results.
- What lines of business (LOB) should be included in the data?
The results of the model reflect losses associated with commercial general liability, products liability, umbrella liability and excess casualty lines of business.
- What if we do not have some of the data fields available?
If required data fields are not available to you, Praedicat Client Services is happy to advise on the best practices and common assumptions we can make to achieve the most relevant model results.
- What is occurrence high/low?
Occurrence high reflects the event that an occurrence loss is allocated over the policy years between the current policy year and the ”last available policy year”. Occurrence lowreflects the event that the occurrence loss is allocated over the policy years from the date of first exposure to the ”last available policy year”. For a given Litagion agent, the “last available policy year” is modeled and represents the insurer’s decision to exclude a Litagion agent. We recommend running the analysis on both assumptions to understand the range of possible loss outcomes on the occurrence form.
- What is the maximum rows of policy data a user can upload?
Currently, the upload functionality supports portfolios with less than 7,000 policy data rows. If the portfolio contains more than 4,000 data rows, the portfolio will be queued for uploading.
- How long will it take to upload my portfolio?
The time it takes to upload a portfolio to Oortfolio after validating the data will vary based on the size of the data. For example, a portfolio of 2,000 data rows will take approximately 10 minutes to upload to Oortfolio.