The term used to describe the relationship of premium to claims for a case, coverage or benefit for a stated time period. Experience rating is used in determining insurance renewal premiums.
The past history of claims for a classification of insurance. The experience affects the rates/premiums the insurance company charges for insurance coverage.
Experience is the history of losses for an individual policyholder.
The actual cost of providing health care to a group during a given period of coverage.
Relationship, usually expressed as a percentage or ratio, of claims to premiums for a stated period.
The record of claims made or paid within a specified time period.
The loss record of an insured, a class of coverage, or of an insurance company.
A term used to describe the relationship of premium to claims for a plan, coverage, or benefits for a stated time period. Usually expressed as a ratio or percent. See also Medical Loss Ratio.
This refers to the loss ratio status of a particular risk, or of a particular coverage, or of a particular carrier, etc. over a specified period of time.
A term used to describe the relationship, usually expressed as a percent or ratio, of premium to claims for a plan, coverage, or benefits for a stated time period.
A record of past actual payroll and losses (claims) for individual employers. This experience is the basis upon which future rates (costs) are predicated actuarially.
The record of losses that is used in predicting future losses and in developing premium rates.
The loss record of either an individual or a class of coverage.
The loss record of an insured or of a class of coverage. Classified statistics of events connected with insurance, of outgo, or of income, actual or estimated. What figures show to have happened in the past. Experience may be compiled on different bases to provide various means of appraisal, viz. Accident Year, Calendar Year, or Policy Year, but, for underwriting purposes, should always compare earned premium with incurred losses after the latter have been modified by an allowance for loss development and incurred but not reported losses (I.B.N.R.).
Applied to insurance, the loss record of an insured, or a class of coverage over a period of years.
Relationship, usually expressed as a percent ratio, of claims to premium for a stated period.
The loss record of an insured or of a type of insurance written. This record is used in adjusting premium rates and predicting future losses. Also, a statistical compilation relating premiums to losses. (See also: calendar year experience and policy year experience.)
Provides statistics of claims and losses related to specific classes or ratings. This experience then can be used to prospectively predict future claims and adjust rates as necessary.
actuarial gains and losses based on the claims of a group or an individual policyholder.
The comparison of claims, or claims and premiums, over a period, in respect of a particular insured or a group of insurances.
Refers to the history of actual claims paid for the contract period (see paid claims) or can refer to the history of claims incurred during a contract period.
Comparison of premiums earned with claims incurred for: a) an individual insured b) group of insureds c) class of coverage.
the loss record of an insured or of a class of insureds. (See POLICY YEAR EXPERIENCE and CALENDAR YEAR EXPERIENCE)