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Kevin Goldsmith
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Decks in this class (30)
A.2 Policy Purchasing Process
What are underwriting guidelines,
How premium is computed,
What are rating manuals
5
cards
A.3 Policy Data
Definition of an exposure and an ...,
3 criteria for a good exposure base,
Definitions of written earned une...
7
cards
A.5 Claims Data
4 ways to aggregate claims metric...,
Formula for reported losses
2
cards
A.7 Insurer Performance & Profit
Fundamental insurance equation,
Total profit for an insurer,
Ultimate loss definition and comp...
24
cards
B.1 Addressing an Imbalanced Fundamental Insurance Equation
4 principles of property and casu...
1
cards
B.2 Large Events & Anomalies
Shock loss examples,
Why shock loss definition might v...,
What happens to future losses whe...
9
cards
B.3 One-time Changes
Why adjust for one time changes i...,
Types of effects for one time cha...,
Why direct effects of coverage in...
10
cards
B.4 Continuous Changes
Reason for adjusting for continuo...,
Possible data sources for trends,
Data adjustments before trending
14
cards
B.5 Development
Reason to develop losses in ratem...,
Four steps in estimating ultimates,
Areas in estimating ultimates for...
17
cards
B.6 LAE, UW Expenses, and Profit Load
2 ways to incorporate alae in ind...,
Pure premium method formula,
Loss ratio method formula
12
cards
B.7 Overall Rate Indications
Differences between pure premium ...
1
cards
B.8 Claims-Made Ratemaking
What is a coverage trigger,
Two types of coverage triggers in...,
Purpose of a retroactive date pro...
5
cards
C.1 Risk Classification
Definitions of adverse selection ...,
Definition of skimming the cream,
Definition of risk classification
11
cards
C.2 Univariate Classification
Main distortion in the pure premi...,
How the loss ratio approach corre...,
Advantages and a disadvantage of ...
3
cards
C.3 Multivariate Classification
Advantages and disadvantage of un...,
Three reasons glms have grown in ...,
Benefits of multivariate methods ...
11
cards
C.4 Special Classifications
Challenges in determining indicat...,
Two steps in territorial ratemaking,
Two basic spatial smoothing appro...
13
cards
C.5 Credibility
3 necessary criteria for credibility,
Formulas for classical and buhlma...,
6 desirable qualities for a compl...
14
cards
D.1 Individual Risk Rating
Why individual risk rating is mor...,
The iso cgl experience rating mod...,
Iso actual experience ratio aer c...
11
cards
E.1 Other Considerations
Examples of rate regulation in th...,
Actions that insurers can take to...,
Two types of operational constraints
9
cards
E.2 Implementation
Steps to obtain new rates for an ...,
Fixed expense fee formula,
Formula for new base rate without...
13
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...
12
cards
G.3 Bornhuetter-Ferguson Method
Bornhuetter ferguson formula for ...,
Bornhuetter ferguson formula for ...,
How the b f method is a credibili...
17
cards
G.4 Cape Cod Method
Cape cod formula for estimated ul...,
How to calculate the cape cod ecr,
Main assumption of cape cod method
10
cards
G.5 Frequency-Severity Techniques
Assumptions of frequency severity...,
Advantages of frequency severity ...,
Disadvantages of frequency severi...
9
cards
G.7 Berquist-Sherman Techniques
2 ways to deal with operational c...,
Examples of using data selection ...,
When subdividing triangles by siz...
8
cards
G.8 Evaluation of Techniques
Benefits of using multiple estima...,
Examples of common diagnostics us...,
2 reasons why unpaid claims estim...
6
cards
H.1 Recoveries
Some ways s s data availability c...,
Two ways to estimate s s recovera...,
Two advantages of using the ratio...
6
cards
H.2 Estimating ALAE
Some ways alae data availability ...,
Three ways to estimate unpaid alae,
Assumption of using the ratio app...
6
cards
H.3 Estimating ULAE
Describe how ulae can be estimate...,
One common assumption for dollar ...,
Formula for the claims basis for ...
23
cards
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TIA Exam 5
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