Experience Analysis

Providing customized reporting to evaluate your business

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Almost every insurance company has complicated systems and voluminous amounts of data on their underlying policyholders. In some cases this information can be located on multiple platforms. We have significant experience with compiling your data into a single source to prepare your experience reporting.

Once we have a reliable set of raw data, we can prepare customized or pre-packaged reports to track company experience and trends. We also develop detailed experience studies to evaluate the longer term performance of your company’s mortality, morbidity, lapse, or other measures. Whether you want to track metrics to report to internal management, of if you want to evaluate your experience to set assumptions for pricing, projection models, or rate increase filings, we have a vast knowledge of all aspects of analyzing a company’s experience.

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How do we specifically help our clients with their needs?

Experience Analysis

(Standard reporting or customized solutions)

  • Loss Ratio Reporting and Claim Cost Studies
  • Mortality Studies
  • Lapse Studies
  • Claim Termination and Runoff Studies
  • Distribution of sales for underwriting or actual to expected pricing analysis
  • Tracking of key metrics such as incidence rates, claim size, claim duration, average age, etc.

Need help with preparing reports to track company experience and trends?

We can have a no-obligation discussion on how Wakely Actuarial can provide the best in actuarial solutions.

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Wakely Insights

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Ben Cohen
President & Consulting Actuary
“Experience studies always sounded boring to me.  I did my first study as a project in college. I thought I would never want to do that work again!  What I didn’t realize is that there are so many facets of insurance company experience analysis. Whether we are reviewing mortality trends or calculating health loss ratios, we very often find significant value when a study is performed for a client.  So, rather than boring, I now would say that the findings from experience studies are vital to making appropriate management decisions.”