Foundry Transportation Program
Insurance Program Performance Analysis — Treaty Years 2019–2025 Data as of 12/31/2025
Prepared by Majelyn
Rates are Increasing
$16,362
PPU up from $14,729
+11.1% vs TY 2024
Exposures are Down
1,283
Projected units vs 1,534 in TY 2024
-16.4% fewer units
Reporting is Faster
13 days
Avg reporting lag down from 29 days
55% faster
Median Closure Time
83 days
Down from 96 days for closed claims
13.5% faster
Lower Avg Incurred Per Claim
$13,439
Down from $26,115 in TY 2024
48.5% reduction
Overview
Rates
Claims Handling
Claims Analysis
TPA Comparison
Loss Ratio by Treaty Year
Program target line at 65%. Nov 2024 TPA switch marked.
Written Premium vs Incurred Loss
TY 2025 projected to $24M based on renewal of in-force accounts through end of treaty year.
Exposure (Units)
Total power units per treaty year.
Rate Per Unit (PPU) Trend
Rates rebounding after Post COVID Soft Market/Increased Carrier Participation.
Year-Over-Year Rate Change
Considerable Annual Rate Increase Post COVID Soft Market/Increased Carrier Participation.
Reporting Lag Trend (Avg Days: Loss to Report)
Dramatic improvement in claim reporting speed across program history.
Average Litigated Claim Cost
Dramatic decline in litigated severity — a key program improvement.
Litigation Rate by Treaty Year
Combination of Immediate Attorney Handling of Claims & Faster Reporting is Decreasing Litigation Rate. Cost per Litigated Claim also dropping.
Average Incurred per Claim
Declining trend since TY 2023.
Claim Status Distribution by Treaty Year
Closure rates improve for mature years. TY 2024 shows aggressive closure activity.
TY 2024 Before vs After TPA Switch (Nov 1, 2024)
Claims with loss dates before vs after the transition to the new claims handler.
Claims Handler Switch — November 1, 2024 — Sedgwick to RYZE
Closed Claim Age Distribution
RYZE closes more claims within 90 days compared to Sedgwick.
Closed Claim Age Distribution — RYZE
Higher proportion resolved in under 180 days.
TPA Head-to-Head Comparison
| Metric | Sedgwick (Pre-Nov 2024) | RYZE (Post-Nov 2024) | Verdict |
|---|---|---|---|
| Total Claims Handled | 561 | 2,062 | Large Increase in Handled Claims per Book Growth |
| Median Closure Time (Closed Claims) | 258 days | 179 days | RYZE faster |
| Litigation Rate | 10.9% | 12.7% | Higher Litigation Rate with Better Results |
| Claims Closed ≤ 90 days | 20.6% | 27.4% | RYZE faster |
| Claims Open 366+ days | 34.1% | 27.5% | RYZE lower |