The term "Biggest Loser" typically refers to a contestant or participant on a weight loss competition show, where individuals work towards losing the highest percentage of their body weight in order to win the title and prize money. However, outside of this specific context, the phrase can also be used more generally as an insult or pejorative term for someone who has lost something significant - such as wealth, status, respect, or reputation - and is now seen as having less value or worth than before.