Insurance is a numbers business. The BKS actuarial team generates reports and statistics that put us in a position of strength when negotiating on your behalf. By using the same methodology as underwriters, our professionals have the advantage of negotiating from an analytics based approach rather than relying exclusively on relationships. With this advantage, we can anticipate underwriters’ pricing and offer alternative justifications where appropriate.
When updating accruals and future cost projections for our self-funded clients, our professionals communicate actuarial findings directly to you in a way that’s easy to understand. We know that to produce the best results, it is essential that you understand the factors that go into an actuarial study. BKS makes it a priority not only to understand the dynamics of your business but to make sure you fully understand the logic and data behind the analysis we perform on your behalf.
BKS actuarial experts specialize in providing a wide range of services, including, but not limited to, the following:
- Insured renewal strategy and negotiations
- Actuarial accrual models for plan performance reporting
- Claim cost projections and COBRA rate development
- Creditable coverage determination
- IBNR/Reserves determination
- Large claim expectation and stop loss cost/benefit analysis
- Self-funded feasibility analysis
- Trend analysis