© 1999 National Council on Compensation Insurance, Inc. ® Experience Rating: The X-Files The CAS Seminar on Ratemaking Opryland Nashville, Tennessee March.

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Multiplication table. x

CASUALTY ACTUARIAL SOCIETY RATEMAKING SEMINAR March 11 – 12, 2004

Introduction to Experience Rating

Review for the Final Exam

5 × 7 = × 7 = 70 9 × 7 = CONNECTIONS IN 7 × TABLE

5 × 8 = 40 4 × 8 = 32 9 × 8 = CONNECTIONS IN 8 × TABLE

4 × 6 = 24 8 × 6 = 48 7 × 6 = CONNECTIONS IN 6 × TABLE

5 × 6 = 30 2 × 6 = 12 7 × 6 = CONNECTIONS IN 6 × TABLE

10 × 8 = 80 5 × 8 = 40 6 × 8 = CONNECTIONS IN 8 × TABLE MULTIPLICATION.

3 × 12 = 36 6 × 12 = 72 7 × 12 = CONNECTIONS IN 12 × TABLE

Medical Loss Ratios and Rebates by Insurance Market Segment, 2011–2013

5 × 12 = × 12 = × 12 = CONNECTIONS IN 12 × TABLE MULTIPLICATION.

5 × 9 = 45 6 × 9 = 54 7 × 9 = CONNECTIONS IN 9 × TABLE

3 × 7 = 21 6 × 7 = 42 7 × 7 = CONNECTIONS IN 7 × TABLE

Presentation transcript:

© 1999 National Council on Compensation Insurance, Inc. ® Experience Rating: The X-Files The CAS Seminar on Ratemaking Opryland Nashville, Tennessee March 11-12, 1999 Robin Gillam Vice President, Corporate Actuarial  

© 1999 National Council on Compensation Insurance, Inc. ® My Mod’s Too High... â Did the rate go down? â How much is your own fault?

© 1999 National Council on Compensation Insurance, Inc. ® Experience Mod - Year 1 ABC Corp

© 1999 National Council on Compensation Insurance, Inc. ® Experience Mod - Year 2 ABC Corp

© 1999 National Council on Compensation Insurance, Inc. ® My Mod’s Too High... â Are the claims over-reserved? â Have you read the fine print

© 1999 National Council on Compensation Insurance, Inc. ® Experience Mod - Original ACME, Inc.

© 1999 National Council on Compensation Insurance, Inc. ® Experience Mod Losses Reduced to Settlement Values ACME, Inc.

© 1999 National Council on Compensation Insurance, Inc. ® Experience Mod All Labeled Losses Reduced ACME, Inc.

© 1999 National Council on Compensation Insurance, Inc. ® â High primary credibility  Plenty of swing: My mod changed too much Revised Experience Rating Plan (RERP)

© 1999 National Council on Compensation Insurance, Inc. ® Sample 1 - No Losses Revised Experience Rating Plan (RERP)

© 1999 National Council on Compensation Insurance, Inc. ® Sample 2 - Small Losses Revised Experience Rating Plan (RERP)

© 1999 National Council on Compensation Insurance, Inc. ® Sample 3 - One Large Loss Revised Experience Rating Plan (RERP)

© 1999 National Council on Compensation Insurance, Inc. ® Sample 4 - Multiple Losses Revised Experience Rating Plan (RERP)

© 1999 National Council on Compensation Insurance, Inc. ® â Graduate impact of eligibility  Increase minimum ballast  Smooth caps on mods Graduated Experience Rating Tables (GERT)

© 1999 National Council on Compensation Insurance, Inc. ® Sample 1 - No Losses Graduated Experience Rating Tables (GERT)

© 1999 National Council on Compensation Insurance, Inc. ® Sample 2 - Small Losses Graduated Experience Rating Tables (GERT)

© 1999 National Council on Compensation Insurance, Inc. ® Sample 3 - One Large Loss Graduated Experience Rating Tables (GERT)

© 1999 National Council on Compensation Insurance, Inc. ® Graduated Experience Rating Tables (GERT) Sample 4 - Multiple Losses

© 1999 National Council on Compensation Insurance, Inc. ® â Reduce financial penalty of small losses  Take the weight off medical only claims  Slightly increase excess credibility Experience Rating Adjustment (ERA)

© 1999 National Council on Compensation Insurance, Inc. ® Sample 1 - No Losses Experience Rating Adjustment (ERA)

© 1999 National Council on Compensation Insurance, Inc. ® Sample 2 - Small Losses Experience Rating Adjustment (ERA)

© 1999 National Council on Compensation Insurance, Inc. ® Sample 3 - One Large Loss Loss Experience Rating Adjustment (ERA)

© 1999 National Council on Compensation Insurance, Inc. ® Sample 4 - Multiple Losses Experience Rating Adjustment (ERA)