Experience Study Calculations Educational Tool

The Society of Actuaries’ Exposure Calculations Project Oversight Group has completed its paper, which presents and explains the methods for determining rates based on experience, such as mortality and claim utilization rates. The goal of this paper is to illuminate the calculations that underlie experience studies.

A new version of the report was published in June 2023. A description of the changes made to the report can be found in its Preface. In addition, an Excel workbook that reproduces the values in the tables in the report have been included below.

The Experience Study Rate Errors paper, a supplement to the original report, was released in November 2017 and discusses, in depth, the errors that arise from the use of two partial rate years, such as policy years or years of age, to cover one calendar year.

Presentations on the Experience Study Calculations Tool, given at the 2017 and 2017 Life and Annuity Symposiums, can also be found below.