Our consultants have provided pricing and rate filing assistance to insurance companies, residual market entities, regulatory agencies, captives, and other risk bearing entities for more than 20 years. We have provided pricing and rate filing consultation to more than 40 insurance companies.
We combine our deep understanding of the actuarial components necessary to properly price risk products with a strong business sense so that we never lose sight of the importance of assisting you in meeting your company’s growth and profitability goals. We also rely on our experience working with and for regulators to help our clients successfully and efficiently meet their regulatory hurdles. Below are some of the highlights of our pricing experience:
- Producing traditional rate structure analyses (territory, deductibles, etc.).
- Developing new ratemaking techniques that incorporate the latest technologies and data available, while providing sufficient documentation and support of the results to make them acceptable in rate filings to regulatory agencies.
- Providing detailed and dynamic competitive analysis tools for use in marketing and product review.
- Providing assistance to Companies in balancing actuarial and competitive concerns in positioning of rates.
- Providing assistance to state regulators with the review and disposition of insurance company submissions.
- Providing expert testimony in hearings related to rate filings.
- Providing assistance in resolving regulatory filing problems.
- Producing rate analyses and filings using the results of commercially available catastrophe modeling packages.
- Using computer simulation models in ratemaking, reinsurance treaty analysis, risk management, product design, and planning.
- Developing pricing plan revisions and new rate variables using multivariate techniques.