experience rating

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experience rating

[ikspir′ē·əns]
Etymology: L, experientia, testing, rata, proportion
a system used by insurance companies in the United States to set the premium to be paid by the insured on the basis of the risk to the company of providing the insurance. Experience rating may lead to very high malpractice premiums in some medical specialties, for the insurance company calculates the premium on the basis of settlements made in related malpractice cases during a specified period. Experience rating is also used to set annual membership health maintenance fees in organizations in which the cost of providing the services in a previous accounting period is used to determine the premiums for the next fiscal year.

experience rating

An insurance rating method which predicts a group's future medical costs based on its past experience (i.e., the actual cost of providing healthcare coverage to the group during a given period of time based on the group's claim history). With experience rating, the insurer calculates the group's insurance premium based on its own—not the overall community's—experience.

experience rating

1. A projection of the cost of an insurance policy (e.g., of a malpractice insurance policy) based on the claims history of the person or party seeking to be insured.
2. A calculation of future insurance payments based on historical data.

experience rating,

n a determination of the premium rate for a particular group partially or wholly on the basis of that group's own experience. Age, sex, use, and costs of services provided determine the premium.
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Temkin then averaged these scores for each company's Temkin Experience Rating.
Temkin Experience Ratings is a comprehensive benchmark of customer experience in the industry, evaluating 294 companies across 20 industries.
Less lost time for employers often means better experience ratings, lower premiums and can even be the difference between receiving a rebate over a surcharge.
Across all subjects, the highest experience rating was for the activity of listening to music.
In our model, similarly to Talluri (2002), price is the only input, whereas the outputs are service, quality and experience ratings, which were analyzed in the RA.
By network or channel, life insurance agents consistently garner the high positive customer experience ratings across regions.
The report found that 23 top academic medical centers differ in their quality; safety, and patient experience ratings, and in their use of hospice and surgical procedures when other treatment alternatives exist.
A new research report published by Temkin Group, 2012 Temkin Experience Ratings, rates the customer experience of 206 large companies across 18 industries.
22, 2012 /PRNewswire/ -- A new research report published by Temkin Group, 2012 Temkin Experience Ratings, rates the customer experience of 206 large companies across 18 industries.
Unlike a guaranteed-cost program, in which the impact of losses is typically realized over time in experience ratings, when an organization assumes direct responsibility for managing its losses below the deductible, results are realized more quickly.
Voucher awards based on individual experience ratings would provide more resources to high health risk individuals for purchasing broader health insurance coverage.
It currently carries information on 20,000 IT products and services in more than 500 technology categories and will soon include reviews, user experience ratings, research and related tools to "help users make the best purchasing decisions.

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