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Experience Modification
The experience rating system is complex. But, through an understanding of the mod formula and the data that goes into the mod, we can help the client better control their mod and reduce costs, so that they can gain insight into their companies operations. 

For a company that is able to lower its mod by twenty or thirty points (going from 1.20 to a .90) would be a substantial cost savings.

From the data on the experience rating worksheet, we can identify
• The minimum Mod for your company
• The contribution of loss frequency and loss severity to your mod
• Whether your company's loss frequency or loss severity is better or worse than your competition
• The impact of a specific loss and how much that loss costs you in terms of increased premium

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Insurance Specialty Group, LLC.
5024 S. Bur Oak Place Suite 117
Sioux Falls, South Dakota 57108
Local: 605-362-2616   Toll Free: 866-760-2616    Fax: 605-362-2380