How Can Actuarial Analyses Help Company Claim Departments Control Average Claim Costs

Rather than restrict themselves to the literal boundaries of the title, the participants expanded the topic to HOW CAN ACTUARIAL DEPARTMENTS HELP CLAIM DEPARTMENTS FUNCTION MORE EFFECTIVELY. In exploring this subject, we traded experiences on jobs we had done and ideas on some we had considered doing but had not yet done. One of the topics discussed was the shortcomings of average claim costs as a yardstick of performance because of 1 ) differing methods of counting claims, and 2) differences in distribution by class, territory, etc. The effect of growth on calendar year average claim costs was noted.