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-   -   Task 6 A. (http://www.actuarialoutpost.com/actuarial_discussion_forum/showthread.php?t=179920)

sharpy 11-11-2009 10:43 PM

Task 6 A.
 
Review the experience and recommend changes with regard to the base PMPM?

how do we answer to this question?
Does that mean to recalculate the base PMPM according to the experience PMPM?

yrh 11-12-2009 04:11 PM

They want to ask which source is more realiable and why. I don't think you need to do any calculation. You only need to justify whatever you say.

In a sense it is similar to EOM7 where you have to use a credibility factor to assign weight to industry table and experience table. Here in task6 they do not expect you calculate the actual crediblity factor but you do need to give good reasons of why you choose one source over the other (or if you choose both, what weight to be given to each).

Runner-JRBS 11-12-2009 06:31 PM

Quote:

Originally Posted by yrh (Post 4026672)
Here in task6 they do not expect you calculate the actual crediblity factor but you do need to give good reasons of why you choose one source over the other (or if you choose both, what weight to be given to each).

I wonder if I get bonus points or not for actually doing a credibility weighting?

yrh 11-12-2009 08:01 PM

Quote:

Originally Posted by Runner-JRBS (Post 4027100)
I wonder if I get bonus points or not for actually doing a credibility weighting?

I would be impressed if I'm the grader. I spent 3 hours but couldn't figure it out.

rohrlich 11-12-2009 11:20 PM

credibility
 
Quote:

I wonder if I get bonus points or not for actually doing a credibility weighting?
Are you not assuming that the experience is fully credible? I interpreted that the experience was fully credible.

ebony 11-12-2009 11:33 PM

I don't know if our experience data is similar but based on the number of dogs and claims records the data is 100% credible.

Make that 110%!

ebony 11-13-2009 12:56 AM

when's your's due?

ebony 11-13-2009 01:40 AM

Quote:

Originally Posted by rohrlich (Post 4027402)
Nov. 16th.

Hang in there!

I submit tomorrow morning. This was grueling, but the reward is right around the corner. And by reward I don't mean studying for CSP!

Goodnight FA! Goodnight Red Ballon! Goodnight Moon!

Runner-JRBS 11-13-2009 03:15 PM

The way I looked at the data, I saw member months not individual members. With that approach, the data doesn't seem credible because you divide by 12.

BadBeatMe 11-18-2009 12:27 PM

Quote:

Originally Posted by Runner-JRBS (Post 4029225)
The way I looked at the data, I saw member months not individual members. With that approach, the data doesn't seem credible because you divide by 12.

I agree that the count is in member-months but I disagree about credibility. The assignment specifically tells us that the experience is credible so I take that to mean that we should assume 100% credibility.


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