Incurred But Not Complained
An actuary's triangle for complaints: reserve, in dollars, for anger before it arrives.
The job
Forecasts how many complaints and regulator escalations each group of claims will still produce, priced as a complaint reserve in dollars. Helps fund prevention now where it shrinks that reserve most.
The moment
The chief actuary, who has never opened a CX tool, recognises the chart at once: complaints laid out like the triangle actuaries use to forecast claims still to come.
The shaded wedge reads: 1,240 complaints still to come from customers with flood claims, and a complaint reserve of $3.1 million, somewhere between $2.4 million and $3.9 million.
After a campaign to reach those customers first, the next month's actual figures arrive during the committee meeting. They land 38% below the forecast set in advance, outside the range.
The chief actuary asks for the triangle to go into the reserving committee's pack.
What it does
- Pre-register this month's projection
- Launch a proactive campaign for a cohort
- Save a reserve scenario
- Send the triangle to the committee pack
- Open a cell's complaints
What you see
Actuarial loss-development triangle with a priced ‘not yet complained’ wedge, a reserve slider, and a monthly diagonal reveal
What it moves
Complaints still expected from each group of claims and the complaint reserve in dollars (with a range), and the actual figures against the forecast set in advance (percent below or above).
Built for
- Finance
- CX leaders & VoC
- Compliance, complaints & legal
