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Table of contents
Renewal Analysis Module. 2
Introduction. 2
A. Input of historical information. 2
A.1- “Experience History” module. 2
A.2- “Rating History” module. 3
B. Lists of renewal analysis module. 3
B.1- Technical Results. 5
B.2- Notes and recommendations. 13
B.3- Analysis Report 13
The Renewal Analysis Module, which can also be used to do rate projections analysis, proposes basic to very elaborate services.
In the ADVANCED version, which combines simplicity and economy, the module allows for manual input of information, utilize the sophisticated calculation facilities as well as generate various basic reports.
The XPRO version optimizes information input by allowing selective data importation from the “Rate and Experience History” modules. The analysis can cover global history for a given period or only specific divisions/classes or modules. This deluxe version optimizes the processes, ensures for each benefit up to 3 drilled down levels for premiums and claims segmentation as well as allows the integration of notes and recommendation within the generated reports.
For documentation purposes, we will describe all functionalities. The user should evaluate with an MDI professional the service level that will respond to his specific needs and budgets.
A.1- “Experience History” module
For the Claim history input, ALL the required fields for the analysis can be selected from the option that is accessible on the top command bar.
The operator can simply check the relevant elements and then place them in the order of his choice to facilitate the input of information to fit the source format.
The expenses in $ or % of the gross premium are calculated automatically from the input of the equivalent % and $.
Should the enterprise “Claim History” data be available by divisions/classes or modules and that specific analysis of those locations be required, you should insure to input the information accordingly. You will then be in a position to easily generate specific analysis.
A.2- “Rating History” module
After selecting the option on your left menu you can either create a new analysis by clicking on the button or access an existing analysis by double clicking on one in the list.
The analysis module is rich in options and potential in order to provide you with all the needed tools to analyse your information and provide professional reporting. We invite you to explore very carefully the various possibilities in order to maximize its potential.
When creating a new analysis, it will be important to properly define the claim and rating period of your analysis.
These periods will define the data that will be imported from both history tables.
You will be able to link your analysis (method #2) to a specific contract or request for proposal. In order to do so, you click on the “+“next to contract and choose the contract or the project from a list.
Your sub-menu on the left of your screen will give you an access to relevant information as well as allow you to generate a professional report of your analysis.
The first 2 choices give you an access to the same history modules as your main menu.
The “Technical Results” option will enable you to process your analysis.
The “Notes and Recommendations” section will make it possible to add your professional comments which will document the technical analysis. The recommendations will become and integrated part of your report.
Lastly, the “Analyse Report” option will generate your reports which could be saved in a format of your choice. (See “Report samples” in appendix)
This module makes it possible to input the information manually or to import them from the history tables.
Information can be inputted for each benefit.
B.1.a Information input for analysis
B.1.a.i Manual input
For the manual input, you first must select the “+” from the “list of tables” in order to add a benefit to be analyzed. You then insure proper document by filling the relevant information starting with “Table Title”.
For both the benefits and locations option, you will be provided with drop-down menus or a list of choices.
To define the benefits, you can simply pick and
then click on the needed service to analyse.
Lastly, for the location section you can define the various divisions/classes or modules that will be analysed. A contextual list will be provided from theDivision/Class and Module that where set up previously.
B.1.a.ii Data Import from the history tables
The Importation function is automatic. Starting from the icon, the system will propose a series of choices to you.
Within each stage, the “technical results data importation assistant” will guide the process and allow you to either validate your previous choices or make selections.
If need be, you will be able to adjust your processing dates by revisiting your main data screen.
The second screen provides you the list of the benefit that contains data within the referred period.
Select (Check/Uncheck) the benefit to be processed and, if needed, adjust the terms and # of years of analyses that are to be analysed.
Lastly, you will be prompted to either add existing results or replace all existing data before you confirm then “Process” of the importation.
B.1.b Methods and Configuration
The analysis module offers 2 analysis methods, a personal notes section and a configuration option.
Method 1 is based on historical experiences and trends and is aimed at defining the fair and negotiated adjustment ratio. The Method 2 will apply the previous historical trends ratio to current rates or premium as set in the selected contract or Request for proposal.
The “Configuration” tab makes it possible to define the process parameters to be used in method 1.
The Note tab enables you to document your analysis.
B.1.b.i Method 1
Based on the selected configuration, you will be able to input all the needed information to make the history analysis.
The period in “input mode” is identified in light blue.
You can choose to set your analysis on 1, 2 or 3 time periods. To adjust the number of periods,
you can add or delete blending periods by using either the + or the X.
The 3rd button makes it possible to select specific divisions/classes or modules within the analysis period that you wish to process. Following on this selection, an importation of the specific data to these locations will be carried out for the period referred to.
The “electronic assistant” will insure automatic calculations based on your configurations preference or the evolution of your data input. The fields in light grey, as those identified with are calculated automatically.
The gross premiums field hides a unique function that makes it possible for the operator to segment the gross premiums as well as the paid or incurred claims.
Clicking on the “gross premiums” field
will split the contained information into 2 distinct elements: an amount and a (…) box.
By clicking on the (…) box, a new screen will provide you with the option of splitting up the premiums as well as claims by category of services. By defining the projected rates of inflation for each element, the module will calculate the blended inflation rates to be used in further calculation.
The use of these tables is supervised by the electronic assistant. Each new element added (+), will automatically inherit both premiums and claims balances. You can select (from) or create your list of preset descriptions in both French and/or English. New descriptions are created on the fly. Whenever a new description is typed in, it will automatically be added to your preset list. These descriptions will allow for the generation of either French or English reports.
The operator will be able to view graphic of $ or % distribution by clicking on any of the buttons. To return to the data entry form, the operator can click anywhere in the table grey zone.
You can segment further the premiums and claims information for each of these elements. You will be able to drill down your information up to 3 levels.
To do so, simply click on + ,on the left beside the element, e.g. which you wish to segment further.
You can drill down your information up to 3 levels.
Another assistant is available to help you define the credibility factors. Same as with gross premium, an access to a (…) box is available.
You will simply need to fill the relevant information that reflects the file being analysed.
Other assistants within this analysis management module will become available to facilitate the operator tasks. We invite the operator to explore each one of these new opportunities by seeking for and exploring the various fields allowing for (…) boxes.
B.1.b.ii Method 2
Method 2 provides an additional tool to calculate the impact of Method 1 analysis to selected premiums or rates.
The “blending period” option will be replaced by a choice of “status”: Individual, couple, family or single-parent. You can select for the analyse one or many status. To define the required status, you can add or remove by using the + or X.
The 3rd button makes it possible to select specific divisions/classes or modules within the analysis period that you wish to process. Following this selection, an importation of the specific data to these locations will be carried out for the period referred to.
The “current rate” will be imported based on the benefit, status and location from the contract or project that was previously defined in the “contract or project to be analyzed” section.
These fields will be automatically imported from table Method 1:
- Net experience (C.4 and 100%)
- Credibility ratio (E.2 and E.3),
- projected (D.1 * D.2 /12) and (1 + D.1)
- Blended rates become the proposed results.
Information can be inputted manually to replace the automatic imports.
Whenever you click on method 1 then return to method 2, all the method 1 values will be automatically imported.
B.1.b.iii Notes
This segment allows to script the personal notes of the operator. This information will be printed in the analysis report.
B.1.b.iv Configuration
The “Configuration” tab provides with the means to define the process parameters which will be used in method 1.
You will be able to determine for your analysis the usage of:
- Gross or Net premiums,
- Paid or Incurred claims,
- Calculation ratio method and finally
- Define if administration expenses are based on fixed amounts or % of the gross or adjusted premium.
The last configuration setup will be used as default configuration for the following new analysis.
These notes and recommendations will be printed on your analysis report.
See report samples as generated that are available in appendix.
