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. https://policy.report/Resources/Whitepapers/140f8aa3-960c-4165-acd1-6052b3bf456d_p_infograph_cas_iii_rating_variables.pdf
infographic
SHARESHARESHARE
INSURANCE RATING VARIABLES: WHAT THEY ARE AND WHY THEY MATTER
It sounds simple: an insurance premium is how much it costs to provide insurance coverage. But figuring out what that cost should be is actually quite complicated — so complicated that insurance companies employ entire actuarial departments to do just that. A lot goes into how actuaries determine the cost of risk, and rating variables are a crucial component in that process. DOWNLOAD