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The long-term care insurance market has had its share of challenges, but stability and profitability are possible with the right expertise. With more LTC specialists than any other consulting firm, Milliman offers an unmatched knowledge and the most comprehensive data to help you succeed.
Based on data from more than $50 billion in claims, Milliman’s Long-Term Care Guidelines provide a flexible, yet consistent basis for anticipating future claims, evaluating past performance, and understanding the interplay of coverages.
Milliman can help you establish sound and effective risk management systems for monitoring the performance of your LTC insurance portfolio, based on claims experience, underwriting, demographic mix, distribution, persistency, and investment income.
Unlike other consultancies that may be public companies or linked to brokerage or accounting firms, we work with a variety of LTC administrative vendors, reinsurers, and marketers. That gives you the benefit of perspective into different approaches, experiences, and strategies.
We give you access to industry-leading software solutions that are used by some of the world’s largest insurers. We can also adapt and build tools specific to your needs.
Milliman is the leading actuarial firm for insurance companies, private equity firms, sales agencies, and other parties in LTC merger and acquisition transactions. We quantify financial and identify non-financial risks and are key contributors to the structuring of transactions in economically efficient ways.
Developing policies is just the beginning. We provide analysis on operational aspects of your existing or planned LTC program, including policy administration, underwriting, claims payment, and claims management standards and processes.
This Long-Term Care (LTC) Focus newsletter showcases the projects that Milliman LTC consultants are working on now.
The second of a series of articles exploring actuarial considerations related to public long-term care programs using a social insurance framework.
As an LTC benefit reduction option, coinsurance could allow for maximum coverage, reduce the impact of a rate increase and lower liability for the insurer.
An industry survey of assumptions and methodologies in the individual long-term care (LTC) market.
Milliman completed a survey on premium rate increases for the long-term care (LTC) insurance industry.
We review current projects in long-term care (LTC), such as LTC development in Asian market, Milliman LTC Advanced Risk Analytics, and upcoming studies.
The onset of COVID-19 and attempts to control its spread, have introduced volatility into the long-term care insurance industry.
An update on important work we are doing with respect to long-term care.
LTC brief: The number of individuals with long-term care insurance slightly declined over the years, but private claim counts rose over 50% over the past decade, surpassing 275,000 in 2019.
Milliman Focus: An update on important work we’re doing with respect to long-term care
The long-term care (LTC) insurance industry has shown significant interest in the use of predictive analytics to develop more accurate projection assumptions for the purposes of reserving, rating, and valuation.
This paper provides guidance for insurers on how to prepare clean, efficient rate increase filings and to help carriers work with regulators to incorporate the information they seek.
One strong step in making long-term care (LTC) an acceptable, insurable risk for insurance companies is to better understand the latent morbidity risk in advance of an LTC need.
This article explores in detail two methods of developing reduced benefit options: the future loss ratio neutral approach and the cash flow neutral approach.
Is it possible that an involuntary, partial social program could be established to provide long-term care coverage?
This article discusses modeling and the information that companies can glean from a first principles approach.
This article examines COVID-19 implications on current LTC populations, short-term (2020) and long-term (beyond 2020) projection assumptions, and the effects on the LTC industry as a whole.
This report explores key risks and considerations for product innovation using the long-term care insurance industry as a case study.
What are the advantages and disadvantages of long-term care policy buyouts from various stakeholder perspectives?
Manage the risks of your in-force and on-claim population with the right intelligence
Automate and accelerate actuarial modeling and reporting with a powerful, cloud-based solution.
IntelliScript combines industry-leading data and analysis to provide insurers the knowledge, tools, and insight to confidently assess risk.
Discover specialized market research to support your product strategies.
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