Important Points for IC 27 - Health Insurance Exam
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Earned premium is the portion of an insurance written premium which is considered "earned" by the insurer, based on the ratio of the time elapsed on the policy to its effective life.
IBNR (incurred but not reported) analysis is reserving for the claims which are incurred but not reported at the end of the accounting period.
Age distribution, group size distribution, claims probability distribution, claim analysis, payment duration analysis and provider network analysis are a few more parameters on which the health insurance data analysis is done.
ICD is the international statistical classification of diseases and related health problems published by the World Health Organisation, and is currently in its tenth edition abbreviated as ICD-10.
The actuarial department of a health insurance company helps the company to calculate the premium for each product and determine the reserve to keep for the policies sold.
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