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Purpose:
Management utilizes ACR to
strengthen and actively promote the quality of Program Administrators and
MGAs. ACR will evaluate,
monitor, and implement the critical functions of new and existing program
businesses preformed on behalf of the carrier.
The business actuary will focus on pricing/profitability, data
issues and management controls.
Benefit:
Growth with positive results and an early warning system.
Produce
an Audit Report and Recommendations
·
Underwriting
UW Guidelines, Authority, Adherence, Exception Process,
Policy Issuance, Endorsements
Rules,
Classes, Limits, Exposures
Claim Info- Timeliness, Accuracy, Evaluation, Communication,
Claims - treatment of LAE, deductibility
Claim Interfaces
·
Pricing/Results
Rating
Methodologies,
Classification
Schedule
Rating
Experience
Rating
Deductible
Pricing
Loss Development
Excess Pricing
Rate Management
Experience Reviews
Target Pricing
Adequacy of Rates and LCM’s
Expected versus Actual Results
Pricing Monitors –N/R, Exposure vs. Rate
Catastrophe Tracking
Risk Profiling
Normative Targets
·
Management
Controls
Reports, Activities, Timeliness, P&L’s, Cash Flows
Reinsurance,
Workflows and Data Flows, Interfaces
ACR’s
review will validate expectations, provide a review and an action plan to
ensure long term profitable growth.
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