M
mulita
Member
Hi,
I am in a country where pricing of motor insurance has not involved actuaries (we do not have any qualified here, me too I am a student). Prcing has mainly been competitive undercutting, the basis being the previous years expenses and claims payment (combined loss ratio)
I would like to learn in general how pricing is done actuarially - been asked to provide an overview. I am asking about pure premiums based on past claims, issues of profit margin will come in later.
Thank You,
I am in a country where pricing of motor insurance has not involved actuaries (we do not have any qualified here, me too I am a student). Prcing has mainly been competitive undercutting, the basis being the previous years expenses and claims payment (combined loss ratio)
I would like to learn in general how pricing is done actuarially - been asked to provide an overview. I am asking about pure premiums based on past claims, issues of profit margin will come in later.
Thank You,