Develop and manage premiums

Trigger: Actuarial schedules, shifting loss ratios, or regulatory changes initiate a review of current insurance pricing models.

1. Analyze historical loss data and market pricing trends
2. Perform actuarial modeling to calculate base rates and rating factors
3. Determine target profit margins and finalize pricing structures
4. Prepare and submit rate filings to state regulatory authorities
5. Address regulatory objections to secure formal rate approvals
6. Update rating engines and policy administration systems with new premiums
7. Monitor premium adequacy against ongoing loss experience

Outcome: Approved premium rates are deployed into the carrier's rating engines and policy administration systems for active quoting.