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inception rate / experience

Discussion in 'SA2' started by dimitris13, May 24, 2019.

  1. dimitris13

    dimitris13 Member

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

    Thanks
    D
     
    dimitris13, May 24, 2019
    #1
  2. dimitris13

    dimitris13 Member

    anyone ?
     
    dimitris13, May 28, 2019
    #2
  3. Lindsay Smitherman

    Lindsay Smitherman ActEd Tutor Staff Member

    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/
     
    Lindsay Smitherman, May 28, 2019
    #3
  4. dimitris13

    dimitris13 Member

    many thanks.
     
    dimitris13, May 30, 2019
    #4

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