Tipsord said the analytics “got the frequency picks right” but the insurer “missed severity badly.”“We did not anticipate the inflationary pressures,” he said, and they did not fully appreciate the effect of the lockdown on the court system. (Yeah, its the courts fault, laughable)
The consequence for calendar-year 2022 is the “largest auto underwriting loss in the 100-year history of our company,” Tipsord said
You didnt see any of that coming? So are you blind or just admitting gross incompetence or both?