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Ratemaking
Estimating the Future Payments on Claims
Narrowly defined, ratemaking is the practice of developing a set
of rates for specified set of coverages, underwriting standards and rating variables. More broadly,
ratemaking is the process of estimating the future costs of individual policies; this broad definition
is reflected in the Principles of Ratemaking of the Casualty Actuarial Society. The task is often
to bring an existing rating manual up to date to reflect changes in loss costs, coverages and
underwriting standards. Other tasks include estimating the costs of individual large risks, describing
the current financial implications of alternative pricing strategies, and preparing rate filing material
that is consistent with state law and custom.
New Items:
Applications:
Principles
Leadership by the Professionals at Oakley E. Van Slyke, Inc.
LRT: Loss Reserve Testing - This software enables the user to develop estimates of loss costs
in terms of premium or exposure.
- Oakley E. Van Slyke and Giuseppe Russo, "Loss Reserve Testing: Beyond Popular Methods,"
Journal of Actuarial Practice (accepted March, 1999; not yet published)
(co-authored by Rob Weber of Weber Actuarial Consulting)
- Oakley E. Van Slyke and Giuseppe Russo, "Interpreting Model Output," Casualty Actuarial Society Forum, Spring 1996
- Oakley E. Van Slyke, "Credibility for Hiawatha," Casualty Actuarial Society Forum, Fall 1995
- Oakley E. Van Slyke, "A General Framework for Financial Decisions," Proceedings of the 29th Actuarial
Research Conference, Actuarial Research Clearing House, vol. 1995.1
- Oakley E. Van Slyke, Ratemaking Seminars (various): For nine years, co-presenter of the session
on Applications of Credibility Theory. Also, for two years, presentations on simple models of the
loss development process
- Oakley E. Van Slyke, "An Overview of Credibility Theory," Casualty Actuarial Society study note, 1985
- Oakley E. Van Slyke, "Study Guide for Credibility Theory," (with Jane C. Taylor),
Casualty Actuarial Society, 1982
- Oakley E. Van Slyke, "Credibility-Weighted Trend Factors," Proceedings of the Casualty Actuarial Society, 1981
- Oakley E. Van Slyke, "Is Econometric Modeling Obsolete?," Casualty Actuarial Society discussion paper, May 1980
- Oakley E. Van Slyke, "Empirical Bayes Methods for Pricing Insurance Classes," co-authored with Carl Morris,
1979 Business and Economics Section, Proceedings of the American Statistical Association
- Oakley E. Van Slyke, "Designing Socially Acceptable Class Plans," presented to the Joint Meeting of
the Society of Actuaries and the Casualty Actuarial Society, April 1978
- Van Slyke developed loss reserving software for national actuarial consulting firm (1978/79)
- Van Slyke developed econometric (non-linear regression) models of loss development triangles (1975-1976)
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