#### Sectors of Focus

• Financial Services
• Financial Services: Microinsurance
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# Gross Incurred Claims (FP2460)

Value of the organization's gross incurred claims at the end of the reporting period.
Calculation:
$\text{Benefits paid during the reporting period}+\text{(Total reserves at the beginning of the reporting period-Total reserves at the end of the reporting period)}$
Reporting format
Reporting Currency (OD5990)
Metric type
Stock
Metric level
Product/Service, Organization
IRIS metric citation
IRIS, 2016. Gross Incurred Claims (FP2460). v4.0.

### Footnote

Organizations should footnote all assumptions used. See usage guidance for further information.

### Usage Guidance

• Incurred claims are those where the insured event has happened and for which the insurer may be liable if a claim is made. An insurer is usually not aware of all incurred claims at a particular point in time or for a current accounting period.
• This metric should include all gross paid claims during the period plus a reasonable estimate of unpaid liabilities. Unpaid liabilities can be calculated by summing the change in reserves (including the incurred but not reported claims reserve), course of settlement reserve, and accrued liabilities reserve.
• This metric is an input into the Incurred Claims Ratio (FP8478), which helps assess the value of an insurance product per premium payment. For more information, see the Incurred Claims Ratio (FP8478).