Milliman's actuaries are dedicated to helping insurers understand and manage risk. Our consultants, who have decades of experience in the insurance industry, work closely with rating bureaus. We have the statistical expertise to handle the often enormous quantities of data and high level of analysis necessary for rate development. Whether a client is seeking an expert opinion for a regulatory hearing, or a more comprehensive offering of support services, we tailor our offerings to meet its needs.

Statistical and administrative services from one source

Rating bureaus turn to Milliman to provide the actuarial power that fuels their organizations. For bureaus that are seeking a back office to handle their actuarial needs, we can serve as an information repository. When we find discrepancies—whether unusual numbers or figures that don't make sense—we carefully correct them. We perform this painstaking process with high standards for data quality and a keen sense of detail.

Beyond data collection, our consultants have the requisite skills and experience to develop comprehensive ratemaking models as well as diagnostic tools that evaluate emerging trends. In developing reports or explaining findings to the bureaus' committees, we communicate our findings in comprehensible language, using visual representations and examples so that they can easily understand the factors that are driving rates and make informed decisions on how to set future pricing.

Expert opinions that provide understanding beyond the numbers

Our actuaries have provided testimony at rate hearings for more than 25 years. We not only have firsthand knowledge of industry rules and regulations, we also understand the trends behind the numbers. We can provide clear, convincing testimony that takes into account in-depth statistical analysis, estimations of capital costs, and determinations of target returns.