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


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


  • Good overview

  • Includes both personal and commercial lines

  • Enables a sense of understanding of actuarial techniques





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







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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