actuarial techniques for the non actuary
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ACTUARIAL TECHNIQUES FOR THE NON-ACTUARY. By Tom Tomlinson TT Compliance. Overview Background Setting the stage. RATEMAKING—WHAT THE STATE FILER NEEDS TO KNOW. BACKGROUND PROPERTY & LIABILITY RATEMAKING THE RATEMAKING PROCESS LIABILITY BASIC LIMIT RATEMAKING AUTOMOBILE RATEMAKING

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actuarial techniques for the non actuary

ACTUARIAL TECHNIQUES FOR THE NON-ACTUARY

By Tom Tomlinson

TT Compliance

slide2
Overview

Background

Setting the stage

ratemaking what the state filer needs to know
RATEMAKING—WHAT THE STATE FILER NEEDS TO KNOW
  • BACKGROUND
  • PROPERTY & LIABILITY RATEMAKING
  • THE RATEMAKING PROCESS
  • LIABILITY BASIC LIMIT RATEMAKING
  • AUTOMOBILE RATEMAKING
  • PROPERTY RATEMAKING
  • WORKERS COMPENSATION RATEMAKING
  • LOSS COST BASED RATE FILINGS
slide4
Good overview
  • Includes both personal and commercial lines
  • Enables a sense of understanding of actuarial techniques
slide5
Enables the astute filer to put ideas to work
  • Techniques can be as simple or complex as desired
  • Adaptable to fit your needs
slide6
You make up the justification
    • Design support
    • Design concepts as you see fit
actuarial concepts
Data Collection

Sources of Data

Integrity of Data

ACTUARIAL CONCEPTS
credibility of data
Credibility of Data
  • Law of Large Numbers
  • Build Justification
data interpretation analysis
Data Interpretation & Analysis
  • Assumptions
  • Methods and Techniques
  • Evaluation
data presentation
Data Presentation
  • Preparation
  • Recommendations
  • Documentation
slide16
Think, think and think some more
  • Develop a plan of attack
  • Devise method of support
professional presentation
Professional Presentation
  • KISS Theory
  • Spelling, grammar and punctuation
  • Know what you are doing & talking about
  • Take time to do it right
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