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Willie Marthinus
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Decks in this class (52)
Chapter 0 - Introduction
Reasons for limited consumer abil...,
Increasing costs,
Actuarial control cycle
5
cards
Chapter 1 Health & Care Insurance products
Describe the main types of health and care insurance contracts:
-private medical insurance
-health cash plans
-main example variations of contracts issued.
29
cards
Chapter 3 Long-term care insurance
Describe the main types of health and care insurance contracts.
-lng-term care insurance
-main example variations of contracts issued.
7
cards
Chapter 5 Healthcare
-Explain components of a well-functioning healthcare.
-Analyse the mechanics between the funding and supply of healthcare.
31
cards
CH 7 (WM)
Stakeholders,
Insurer s targets in product desi...,
List the other aspects of product...
30
cards
Chapter 8 Distribution Channels
Discuss the operating environments in which health & care insurance products are traded.
22
cards
Chapter 9 The general business environment
Discuss the operating environments in which health & care insurance is traded.
23
cards
Chapter 10 Risk adjustment
-Evaluate the nature of risk facing the insurer.
-Describe the principal modelling techniques appropriate to health and care insurance.
22
cards
Chapter 11 State healthcare provision
Explain likely role of the State in the provision of alternative or complementary health and care protection.
24
cards
Chapter 12 Modelling
Main uses of models,
Objectives of a health insurance ...,
Objectives of a health insurance ...
42
cards
CH 13 (WM)
-Apply the techniques used in pricing health and care insurance products in terms of data availability
40
cards
Chapter 14 Assumptions General considerations
General considerations when setti...,
Deriving assumptions for pricing ...,
Deriving assumptions for reservin...
10
cards
Chapter 15 Demographic assumptions
Describe assumptions that are critical to pricing & valuation:
-morbidity
-mortality
-persistency
-claim amount
12
cards
Chapter 16 Assumptions (3) Financial assumptions
-expenses
-inflation
-investment return
-taxes
-solvency margin
27
cards
CH 17 (WM)
New business volume,
New business mix,
Assumptions may be needed for mix...
19
cards
Chapter 18 Generalised Linear Modelling
Describe the principal modelling techniques appropriate to health and care insurance:
18
cards
Chapter 19 Pricing (1) Individual business
-Understand and apply techniques used in pricing health and care insurance in terms of:
-equation of value & formula approach
-cashflow techniques
-describe principal modelling techniques appropriate to health & care insurance.
25
cards
CH 20 (WM)
-Understand and apply the techniques used in pricing health and care insurance products in terms of:
-group risk assessments.
17
cards
Chapter 21 Pricing (3) - Other considerations
Profit criteria 3 commonly used f...,
What is a profit criterion,
What is net present value
24
cards
Chapter 22 Pricing (4) Options and guarantees
Mortality and morbidity options,
Terms and conditions for options,
What are the cost of options
15
cards
Chapter 23 Reserves & solvency capital requirements
Types of reserves short term,
The role of statistical and case ...,
The role of statistical and case ...
28
cards
Chapter 24 Nature of risks (1)
Risks may often be classified as ...,
Risks faced by a health and care ...,
Policy data
15
cards
Chapter 25 Nature of risks (2)
Guarantee and options,
Competition,
Actions of management
20
cards
Chapter 26 Nature of risks (3)
What is the key aim of a healthca...,
The actuary will maximise profit ...,
The problems that confront the ac...
15
cards
CH 27 (WM)
Define managed care 2,
Describe the role of managed care 1,
What are the objectives of manage...
12
cards
Chapter 28 Reinsurance
Reasons for reinsurance,
Health and care insurance payouts...,
The following factors will determ...
34
cards
Chapter 29 Other risk management techniques
Different levels of underwriting,
There are two defined periods tha...,
Risk management techniques for pmi
28
cards
Chapter 30 Investment
Asset liability matching requirem...,
Nature term and currency of the l...,
Term
13
cards
Chapter 31 Monitoring & feedback into the control cycle
Experience will be monitored in o...,
By keeping its experience under r...,
Data required for monitoring expe...
32
cards
Key Items
Reimbursement arrangements,
Definitions,
Risk categories
7
cards
Glossary
Accelerated critical illness benefit,
Activities of daily living adls,
Activities of daily working adws
139
cards
CH 29 (WM)
List the different risk managemen...,
Define the term underwriting 125,
Different levels of underwriting
32
cards
CH 1_Part 2 (WM)
How can insurers manage claims co...,
What are some of the general excl...,
How might the use of a wp help in...
15
cards
CH 14 (WM)
Define the term embedded value 25,
Describe the calculation of ev fo...,
State the reasons why a health in...
11
cards
CH 8 (WM)
Describe the characteristics of t...,
Describe the characteristics of t...,
Describe the characteristics of t...
22
cards
CH 1 Part 1 (WM)
Describe a pmi contract 5,
List the prescribed minimum benef...,
What is meant by in patient and o...
22
cards
CH 4 (WM)
Define a group scheme 2,
Describe some of the different wa...,
State the different consideration...
21
cards
CH 2 (WM)
What are the other names for crit...,
State the advantages to the claim...,
Describe a ci contract 45
21
cards
CH 3 (WM)
Define lt care 3,
Describe the needs that are cover...,
Describe how the cost of care for...
29
cards
CH 23 (WM)
What are the main reasons for cal...,
List the reserves that healthcare...,
Define an option reserve together...
25
cards
Chapter 31 (WM)
Define the following terms namely...,
Outline the main type of expenses 4,
List the main expense drivers 2
9
cards
CH 30 (WM)
The regulatory framework may limi...,
State the principles of investment 2,
What are the components of the li...
18
cards
CH 22 (WM)
Describe the risk of selection ag...,
Why does restricting the points o...,
Provide examples of health option...
6
cards
CH 11 (WM)
List the overall objectives wrt a...,
The role of commercial insurance ...,
Describe private insurance as an ...
23
cards
CH 5 (WM)
What are the requirements of a we...,
Define the term healthcare 2,
Which factors largely influence a...
11
cards
CH 18 (WM)
Assumptions of classical linear m...,
What are the drawbacks for the no...,
Define the term explanatory varia...
29
cards
CH 21 (WM)
Define the term profit criterion 2,
State what is meant by the net pr...,
State what is meant by the net pr...
10
cards
CH 10 (WM)
Outline the rationale for risk ad...,
Suggest possible risk adjustment ...,
List the different applications o...
14
cards
CH 6 (WM)
Customer attraction and clarity,
Five main factors relating to pro...,
Health and care insurance product...
19
cards
CH 28 (WM)
Describe how an insurer will deci...,
Describe approach 1 that insurer ...,
Describe approach 2 that insurer ...
11
cards
Exam Questions
Describe the differences between ...,
Company a is a large health and c...,
Company a is a large health and c...
58
cards
CH 12 (WM)
Question 121 list the uses of mod...,
Describe the 4 main types of models,
10
cards
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f101 - health (june 2024)
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