Ratemaking made simple course outline
I. Commonly Used Insurance Industry Language
- Cost Base Pricing
- Pricing Elements
- Insurance Company Income Sources
- Base Rate and Rating Factor Approaches
- Why not let the market determine insurance rates?
II. Anatomy of an Insurance Rate
- Data Organization
- Premium
- Elements of Incurred Losses
- Adjusting Losses - Trend
- Adjusting Losses - Development
- Catastrophe Provision
- Credibility
- The Statewide Rate Indication
III. Whose Premium Should Change, and by How Much?
- Changing the Base Rate
- Rating Factor Changes
- Adding a new Rating Factor
- Making a Base Rate and Factor Change at the same time
- Rate Filing Support
Ultimate Consulting Corporation is committed to having this class taught only by fully qualified instructors that have excellent communication skills
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