Press Releases & News
The Optimal Number of Quantiles For Predictive Performance Testing of the NCCI Experience Rating Plan
Motivation. Quantile testing is a key technique for fitting parameters and testing performance in workers compensation experience rating and the number of quantile intervals must be specified for such a test.
Method. A model is developed to …
The Recent Review and Changes to the NCCI Individual Risk Experience Rating Plan
Motivation. The goal of experience rating is to improve the equity of individual risk rates. The National Council on Compensation Insurance (NCCI) periodically reviews the performance of its Experience Rating Plan, and makes changes to the Plan as …
Introduction to the National Council on Compensation Insurance Experience Rating Plan and Its Actuarial Methodology
Workers compensation individual risk experience rating, and particularly the National Council on Compensation Insurance’s (NCCI’s) Experience Rating Plan (ERP), date back to the first years of
workers compensation laws in the United States and the …
Sustainable/Green Insurance Products
To achieve marketplace success, many insurers focus constantly on their growth, increasing their market share and retaining better risks. Insurers should always look for new ways to differentiate themselves from their competitors. Developing and …
The Theory of Split Credibility
This paper tackles the question: why should split credibility be better than credibility without a split? It corrects previous misunderstandings and presents new formulas showing how parameter uncertainty is reduced by use of unsplit credibility and …
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