inception rate / experience

[dimitris13]

Hi ,
what does it mean inception rate and secondly "improved inception experience"?
is it the ate of acquiring New Business ?

Thanks
D

 

[dimitris13]

anyone ?

 

[Lindsay Smitherman]

Hi - a bit of context would be helpful, but I suspect that you are referring to claim inception rates which relate to health insurance products that pay a regular income, such as income protection or long term care insurance.

It basically means the rates at which claims are starting to be paid. Improved claims inception experience would mean lower claims inception rates, ie fewer claims starting to be paid.

See the following SP1 post for more info:

https://www.acted.co.uk/forums/inde...ception-rate-vs-claim-termination-rate.14826/

 

[dimitris13]

Hi - a bit of context would be helpful, but I suspect that you are referring to claim inception rates which relate to health insurance products that pay a regular income, such as income protection or long term care insurance.

It basically means the rates at which claims are starting to be paid. Improved claims inception experience would mean lower claims inception rates, ie fewer claims starting to be paid.

See the following SP1 post for more info:

https://www.acted.co.uk/forums/inde...ception-rate-vs-claim-termination-rate.14826/

many thanks.