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32 - INS - Insurance


INS 115 - The Principles of Ratemaking

Code Start Date Duration Venue Fees
INS 115 13 December 2020 5 Days Istanbul $ 3950 Registration Form Link
INS 115 31 January 2021 5 Days Istanbul $ 3950 Registration Form Link
INS 115 28 February 2021 5 Days Istanbul $ 3950 Registration Form Link
INS 115 28 March 2021 5 Days Istanbul $ 3950 Registration Form Link
INS 115 25 April 2021 5 Days Istanbul $ 3950 Registration Form Link
INS 115 23 May 2021 5 Days Istanbul $ 3950 Registration Form Link
INS 115 20 June 2021 5 Days Istanbul $ 3950 Registration Form Link
INS 115 15 August 2021 5 Days Istanbul $ 3950 Registration Form Link
INS 115 12 September 2021 5 Days Istanbul $ 3950 Registration Form Link
INS 115 10 October 2021 5 Days Istanbul $ 3950 Registration Form Link
INS 115 07 November 2021 5 Days Istanbul $ 3950 Registration Form Link
INS 115 05 December 2021 5 Days Istanbul $ 3950 Registration Form Link
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Course Description

This course provides an understanding of ideal characteristics of ratemaking. It provides deep understanding about rate components as well as ratemaking terms. It gives broad idea about how actuaries are involved in the ratemaking process.It covers pricing methodology both life insurance and non-life insurance.

Course Objectives

  • Describing  the objectives of insurance rate regulation and the various regulatory environments 
  • Defining pricing methodology in life insurance 
  • Calculating  expenses used in ratemaking analyses 
  • Calculating  loadings for catastrophes and large claims 
  • Applying  credibility considerations to ratemaking 
  • Calculating overall rate change indications under the claims ratio and pure premium methods 
  • Calculating  risk classification changes and territorial changes 
  • Calculating deductible factors, increased limits factors, and coinsurance penalties
  • Calculating  rates for large accounts
  • Performing individual risk rating using standard plans 

Who Should Attend?

  • Insurance Professionals
  • Actuaries 
  • Brokers 
  • Agents 
  • Internal Auditors 
  • Risk Managers 
  • Internal Control Officers 
  • Financial & Accounting Professionals

Course Details/Schedule

Day 1

  • Understanding regulatory objectives in ratemaking 
  • Understanding key differences in ratemaking in different regulatory environment 
  • Desribing types of rating 
  • Defining advantages of each type of rating 
  • Defining disadvantages of each types of rating 

Day 2

  • Understanding meaning of pricing in life insurance 
  • Describing assumptions in life insurance pricing 
  • Analyzing demographic assumptions 
  • Analyzing financial assumptions 
  • Calculating expenses in life insurance 

Day 3

  • Defining  exposure base
  • Selection of exposure base
  • Understanding an organization of data: calendar year, policy year, accident year
  • Analyzing  written exposure versus earned exposure versus inforce exposure
  • Defining the role of exposures in the ratemaking process 

Day 4

  • Evaluating catastrophe exposure
  • Identification of Catastrophe Perils or Events
  • Identification of Catastrophe Losses
  • Understanding  predominant ratemaking procedures used to determine a catastrophe provision
  • Defining ratemaking in aggregate losses 

Day 5

  • Analyzing history of credibility 
  • Understanding the need for credibility 
  • Calculating  risk classification changes and territorial changes 
  • Calculating deductible factors, increased limits factors, and coinsurance penalties
  • Calculating  rates for large accounts