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Ch18 - analysis of experience

M

mossie

Member
Hi,

Could someone please help with my queries below?

p10 - Recovery rates will need investigation by ‘incapacity’.

Do they mean the cause of incapacity? What are the categories used in practice? Im guessing in practice there are many possible causes of incapacity and in order to keep the experience in each category credible they can’t split it by too many categories, or?

Many thanks!

M.
 
This means by reason for claim. I can't give you a definite practical example, but examples of reasons for claims could be stress, chronic back pain, RSI etc. Recovery rates would be expected to vary by reason for claims.

As you say, you'll need to consider the credibility of each group so insurers may group several things together, for example as "psychiatric claims" and include stress and other psychiatric disorders too.

Sarah
 
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