Who can obtain access to ISA data?

• ISA prepares reports for its members from data about their insurance business which they supply on a confidential basis. ISA data is therefore available to:
• people who work for ISA members and
• individuals and organisations to which the ISA Board agrees to release it.

If you are associated with an organisation such as an insurer or reinsurer that could be a member of ISA but is not, we cannot supply you with data: however, we would be happy to speak to you to discuss joining ISA.

How do I get access to ISA data?

All data requests can be made via email to ISAmanager@finity.com.au or telephone to (+61) 2 8252 3300. Please note that all data requests from non-members are subject to approval by the Board of ISA. Before ISA can provide any data to you, you will first need to provide details of what you will be using the data for: in particular, you need ISA’s written permission to include ISA data in anything that will be circulated outside your organisation.

What is the cost of ISA data?

ISA members pay an annual fee to participate in ISA. Information supplied by ISA generally is free of charge for students and government organisations. If you are a student: we will need to know the institution, name of the course and contact details of your course supervisor or lecturer. Other organisations are generally charged a fee for provision of data which is based on the nature and extent of the data required and agreed in advance.

Who can become a member of ISA and how much does it cost?

Membership of ISA is open to:

• direct insurers and third party claims managers (provided they submit data for the relevant classes),
• reinsurers, brokers and other organisations interested in the insurance market.

Costs of membership varies by class of business covered.

What sort of data is a member required to provide and how is it used?

For the Motor and Domestic syndicates, members are required to provide:

• number of policies and claims,
• sum insured on policies (Domestic only),
• annual premium,
• amount paid on claims,
• amount outstanding on claims,
• incurred cost of claims.

We use the data provided to calculate:

• incurred cost of claims = [amount paid on claims] + [amount outstanding on claims] – [amount outstanding on claims prior period],
• Domestic Total Number of Policies = {([Buildings number of policies] + [Contents number of policies]) ÷ 2} + [Combined number of policies],
• Domestic Total Number of Claims = {([Buildings number of claims] + [Contents number of claims]) ÷ 2} + [Combined number of claims],
• Average Premium = [annual premium] ÷ [number of policies],
• Average Sum Insured = [sum insured on policies] ÷ [number of policies],
• Claim Frequency = [number of claims] ÷ [number of policies],
• Average Claim Size = [incurred cost of claims] ÷ [number of claims],
• Cost per Policy = [incurred cost of claims] ÷ [number of policies],
• Loss Ratio = [incurred cost of claims] ÷ {([annual premium] + [annual premium prior period]) ÷ 2}.