get https://{host}/platform/riskdata/v1/analyses//location-aal
Returns average annual loss (AAL), coefficient of variation (CV), and standard deviation metrics for the specified DLM or HD analysis result.
Using these statistics, underwriters can identify the location exposures in their portfolios that are at the greatest risk.
- Average annual loss (
aal) also known as the pure premium represents the expected value of the loss distribution, i.e. losses that one would expect to see in a year on average. Since the AAL represents only an average, the actual annual losses will fluctuate around the AAL in any given year. AAL does not include expenses, non-modeled loss, profit, or risk load. - Standard deviation (
stdDev) characterizes the secondary uncertainty associated with the mean loss value i.e., uncertainty in an event loss given that a certain event has occurred. - Coefficient of variation (
cv) measures of the relationship between aal value (pure premium) and stdDev value (standard deviation) of the annual losses. Reflects the volatility in the annual losses.