Typical Analysis

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A typical analysis performed by Select Actuarial Services will require 21 to 35 days to complete from the time data is received. The following details a listing of steps that will take place in a typical analysis:

  • Confirmation of price, timing, etc. will be provided.
  • Data request will be sent detailing the items needed (see a list to the right for possible data needed) to complete study.
  • Draft results will be provided.
  • There will be consultation by telephone and possibly a presentation in person.
  • Final results will be provided.
  • Follow-up on services will occur to ensure satisfaction.
  • Bill for study will be submitted.
  • For more information or a price quote, please contact any of the Select Actuarial Services Members.

Items needed to complete study:
  • Description of insurance programs, including carriers, limits, policy types, policy terms, etc.
  • Current evaluation of incurred losses and expenses, paid losses and expenses, and claim counts by accident year.
  • Historical evaluations of incurred losses and expenses, paid losses and expenses, and claim counts by accident year.
  • Exposures by accident year (i.e. payroll for Workers’ Compensation, number of vehicles for Automobile Liability, etc.)
  • Individual listing of claims with incurred losses and expenses greater than 50% of the per occurrence retention for the accident year.
  • Rate to be used in discounting outstanding losses.

To learn more our full range of actuarial services, please call us at (615) 269-4469.

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