Category
Actuarial & Statistics
10 terms explained in plain English, with Indian context.
- Combined RatioCombined Ratio is the headline underwriting-profitability metric for a general or health insurance line of business, computed as the sum ...
- Embedded Value (EV)Embedded Value (EV) is an actuarial measure of the economic value of a life insurer's existing business, computed as the sum of the Adjus...
- Expense Ratio (Insurance)Expense Ratio in insurance is the ratio of an insurer's operating expenses to its net earned premium in a financial year, expressed as a ...
- Incurred Claim RatioIncurred Claim Ratio (ICR), sometimes called the Claim Incurred Ratio, is the ratio of the total value of claims an insurer has 'incurred...
- Loss RatioLoss Ratio is the ratio of claims and loss-adjustment expenses to earned premiums in a general insurance line of business, expressed as a...
- Mortality RateMortality rate is the probability that a person of a given age, gender, and risk profile will die within the next year, and it is the sin...
- Persistency RatioPersistency Ratio is the percentage of life insurance policies (measured by number or by premium) that are still in force at a defined mi...
- Reserving (Insurance Reserves)Insurance reserving is the actuarial process of estimating the amount of money an insurer must set aside today to meet its future obligat...
- Solvency RatioSolvency Ratio measures an insurer's ability to meet its long-term liabilities — the claim obligations it has promised to pay — from its ...
- Value of New Business (VNB)Value of New Business (VNB) is the present value of expected future shareholder profits from the new policies a life insurer wrote during...