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Steve Giusti
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Decks in this class (22)
A.2. Policy Purchasing Process
What are underwriting guidelines,
How premium is computed,
What are rating manuals
5
cards
A.4. Policy and Claims Data
Definition of an exposure and an ...,
3 criteria for a good exposure base,
Writtenearnedunearnedin force
7
cards
A.7. Insurer Performance and Profit
Fundamental insurance equation,
Total profit for an insurer,
Ultimate losses
18
cards
B.2. Large Events and Anomalies
Shock loss examples,
What happens to future losses whe...,
Shock loss definition may vary by...
9
cards
ASOPs
First principle of p c ratemaking,
Second principle of p c ratemaking,
Third principle of p c ratemaking
4
cards
B.3. One-time Changes
Why adjust for one time changes i...,
Types of effects of one time changes,
Why direct effects of coverage in...
9
cards
B.4. Continuous Changes
Reasons for adjusting continuous ...,
Possible data sources for trends,
Data adjustments before trending
14
cards
B.5. Development
Four steps in estimating ultimates,
Reason to develop losses in ratem...,
Areas in estimating ultimates for...
17
cards
B.6. LAE, UW Expenses, and Profit Load
Two ways to incorporate alae in i...,
Pure premium method formula,
Loss ratio method formula
15
cards
B.7. Overall Rate Indications
Differences between pure premium ...,
Coverage trigger,
Two types of coverage triggers
6
cards
C.1. Risk Classification
Adverse and favorable selection,
Skimming the cream,
3 primary purposes of risk classi...
10
cards
C.2. Univariate Classification
Main distortion in pure premium a...,
How loss ratio approach corrects ...,
Advantages and disadvantages of u...
4
cards
C.3. Multivariate Classification
3 reasons glms have grown in popu...,
Benefits of multivariate methods ...,
Adv disadv of minimum bias proced...
10
cards
C.4. Special Classifications
Two steps in territorial ratemaking,
Challenges in determining indicat...,
Clustering routines in territoria...
14
cards
C.5. Credibility
3 necessary criteria for credibility,
Classical and buhlmann credibilit...,
6 desirable criteria for compleme...
9
cards
D.1. Individual risk rating
Why individual risk rating is mor...,
Iso cgl experience rating mod for...,
Iso actual experience ratio aer c...
11
cards
E.1. Other considerations
Examples of rate regulation in us,
Actions insurers can take to resp...,
Two types of operational constraints
20
cards
F.1. Goals of Reserving
Why accurate estimates of unpaid ...,
Accounting and valuation date def...,
5 components of unpaid claims
7
cards
G.2. Expected Claims Method
Expected claims formula for estim...,
Assumptions of expected claims me...,
Common uses of expected claims me...
11
cards
G.3. BF Method
Bf formula for estimated ultimate...,
Bf formula for estimated ultimate...,
How bf is credibility weighting o...
17
cards
G.4. Cape Cod Method
Cc formula for estimated ultimate...,
Cape cod ecr formula and steps,
Main assumption of cape cod method
10
cards
G.5. Frequency-Severity Techniques
Assumptions of f s techniques,
Advantages of f s techniques,
Disadvantages of f s techniques
5
cards
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