Loss Forecasting Definition:
Analyze past losses and predict future losses. Past loss data usually takes several years (5 or more) to be reliable. The duration becomes important as the experience of recent years is close to the current threat, but the losses from previous years take longer to increase. Large numbers of laws, exposure data, business activity or structures, inflation, changes in employee compensation and all other related factors should be considered when predicting losses.
Literal Meanings of Loss Forecasting
Sentences of Loss
Avoid wasting time
Synonyms of Loss
mislaying, misplacement, overlooking, forgetting, dropping
Meanings of Forecasting:
Forecast or Estimation (Future Event or Trend)
Calculating or predicting future events, especially upcoming seasons or financial trends.
Sentences of Forecasting
Rain forecast for Scotland
Synonyms of Forecasting
forewarn, divine, prediction, calculation, foretell, forewarning, prognostication, predict, prophesy, augury, prognosticate, prognosis, divination, foresee, prophecy, augur, projection