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Overview: This paper from SAS Institute attempts to tie the theory of rate making to technology and business definitions and describes how to set a benchmark for validation and customer handover to ensure a successful rate-making project. The objective of this paper is to reduce the number of iterations involved in the development of a rate card, or formula, and to discuss available options. To underwriters, this paper provides a road map and proven best practices. To project managers, it offers a guide to scope commitment, dependency tracking, and progress tracking. To analytical developers, this paper describes business definitions and thresholds.
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