Pricing risk: premiums, loss ratios, annuities, life expectancy and expected claims
Expected claim cost per policy: frequency times severity.
Premium that covers claims plus an expense/profit load.
Claims paid divided by premiums earned.
Total cost ratio: losses plus expenses vs premium.
Probability-weighted average of possible claim amounts.
Value today of a stream of future payments.
Accumulated value of regular contributions.
Expected remaining whole years of life from survival probabilities.
Probability that a life aged x dies within the year.
Money set aside for claims incurred but not yet fully paid.
Blend own experience with the wider average by a credibility factor.
Premium that adds a load proportional to risk variance.
Number of claims per unit of exposure.
Expected one-year cost of a term policy.
Insurer's capital buffer relative to its liabilities.