18-Exhibit B - Milwaukee County Life Experience Reports.pdf
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- Solicitation number
- RFP-2026-004
- Issued by
- Milwaukee County, Mattoon Village, Wisconsin
About this file
This is a Life Experience Report for Milwaukee County's Basic Life Insurance and Optional Life Insurance programs, prepared for the renewal effective January 1, 2027. The report analyzes claims experience and premium data across five plan years (2021-2025) for four coverage categories: Active Employee Basic Life, Retiree Basic Life, Optional Life, and Dependent Life. The County, represented by broker Willis Towers Watson Midwest, Inc., is seeking proposals from qualified firms to provide insurance coverage and full administrative services for these programs under an initial three-year contract term with renewal options.
The experience report reveals significant cost differences across coverage categories. The Active Employee Basic Life plan demonstrates a favorable 7.3% average loss ratio over the five-year period, with premium earned ranging from $1.18 million to $1.66 million annually. Conversely, the Retiree Basic Life plan shows substantial losses, with average loss ratios of 281.5% (excluding COVID claims) and 291.4% (including COVID claims), indicating that incurred claims far exceed premiums earned, which declined from $924,900 in 2021 to $802,699 in 2025. The Optional Life plan reflects an average loss ratio of 26.8% with 50% credibility and a blended expected claims rate of 42.9%, while Dependent Life demonstrates a 55.5% average loss ratio with 60% credibility and blended expected claims of 69.2%. These loss ratios and experience data provide the historical foundation for pricing and underwriting decisions in the renewal proposal process.
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LIFE / AD&D EXHIBIT – Actives
BASIC LIFE RENEWAL ANALYSIS
MILWAUKEE COUNTY
Group Number #104177
Renewal Date January 1, 2027
1/01/2021- 12/31/2021
1/01/2022- 12/31/2022
1/01/2023- 12/31/2023
1/01/2024- 12/31/2024
1/01/2025- 12/31/2025
Incurred Analysis
Death Claims Paid $38,000 $154,000 $10,250 $63,000 $143,250
Change in Death Pendings $0 $0 $0 $7,500 ($7,500)
Conversion Charge $12,000 $0 $0 $0 $0
Portability Charge $0 $0 $0 $0 $0
Interest to Beneficiaries $0 $1,021 $0 $7 $40
Pool charges $0 $0 $0 $0 $0
Change in Disability Reserves $0 $0 $0 $0 $0
Change in IBNR ($29,815) ($22,298) $26,478 $107,535 $7,679
Subtotal $20,185 $132,723 $36,728 $178,042 $143,469
Demographic Adjustment 1.000 1.000 1.000 1.000 1.000
Total Incurred Claims $20,185 $132,723 $36,728 $178,042 $143,469
Premium Analysis
Premium Earned $1,252,595 $1,177,009 $1,266,766 $1,631,291 $1,657,323
Adjusted Premium $1,252,595 $1,177,009 $1,266,766 $1,631,291 $1,657,323
Loss Ratio 1.6% 11.3% 2.9% 10.9% 8.7%
Experience Average 7.3%
Exhibit B -Milwaukee County Life Experience Reports
LIFE / AD&D EXHIBIT – Retirees
MILWAUKEE COUNTY
Group Number #104177
Renewal Date January 1, 2027
1/01/2021-
12/31/2021 1/01/2022- 12/31/2022
1/01/2023- 12/31/2023
1/01/2024- 12/31/2024
1/01/2025- 12/31/2025
COVID CLAIMS EXCLUDED
Incurred Analysis
Death Claims Paid $2,307,705 $2,221,096 $2,184,540 $2,594,855 $2,589,127
Change in Death Pendings ($36,660) ($70,265) $33,780 $80,270 ($5,123)
Conversion Charge $0 $0 $0 $0 $0
Portability Charge $0 $0 $0 $0 $0
Interest to Beneficiaries $2,025 $2,515 $8,065 $3,088 $1,613
Change in Disability Reserves $0 $0 $0 $0 $0
Change in IBNR ($14,060) $2,353 ($4,641) ($6,345) ($6,642)
Subtotal $2,259,010 $2,155,699 $2,221,744 $2,671,868 $2,578,975
Demographic Adjustment 1.050 1.050 1.050 1.050 1.050
Total Incurred Claims $2,371,960 $2,263,484 $2,332,831 $2,805,461 $2,707,924
Premium Analysis
Premium Earned $924,900 $943,727 $906,596 $855,834 $802,699
Adjusted Premium $924,900 $943,727 $906,596 $855,834 $802,699
Loss Ratio 256.5% 239.8% 257.3% 327.8% 337.4%
Experience Average 281.5%
LIFE / AD&D EXHIBIT – Retirees
1/01/2022- 12/31/2022
1/01/2023- 12/31/2023
1/01/2024- 12/31/2024
1/01/2025-
COVID CLAIMS INCLUDED
Death Claims Paid $2,555,940 $2,343,727 $2,205,123 $2,612,105 $2,612,627
Change in Death Pendings ($31,445) ($76,397) $24,697 $73,270 ($5,123)
Conversion Charge $0 $0 $0 $0 $0
Portability Charge $0 $0 $0 $0 $0
Interest to Beneficiaries $2,051 $2,801 $8,242 $3,113 $1,667
Change in Disability Reserves $0 $0 $0 $0 $0
Change in IBNR ($14,060) $2,353 ($4,641) ($6,345) ($6,642)
Subtotal $2,512,486 $2,272,485 $2,233,421 $2,682,143 $2,602,529
Demographic Adjustment 1.050 1.050 1.050 1.050 1.050
Total Incurred Claims $2,638,110 $2,386,110 $2,345,092 $2,816,250 $2,732,656
Premium Analysis
Premium Earned $924,900 $943,727 $906,596 $855,834 $802,699
Adjusted Premium $924,900 $943,727 $906,596 $855,834 $802,699
Loss Ratio 285.2% 252.8% 258.7% 329.1% 340.4%
Experience Average 291.4%
LIFE / AD&D EXHIBIT
OPTIONAL LIFE RENEWAL ANALYSIS
1/01/2022- 12/31/2022
1/01/2023- 12/31/2023
1/01/2024- 12/31/2024
1/01/2025-
Death Claims Paid $221,000 $0 $180,000 $40,000 $361,000
Change in Death Pendings $0 $0 $0 $0 $0
Conversion Charge $0 $0 $0 $0 $0
Portability Charge $1,375 $25,955 $6,040 $0 $0
Interest to Beneficiaries $0 $0 $0 $0 $0
Change in Disability Reserves $0 $0 $0 $0 $0
Change in IBNR $27,719 ($2,906) $10,815 ($39,564) $29,143
Subtotal $250,094 $23,049 $196,855 $449 $390,143
Demographic Adjustment 1.000 1.000 1.000 1.000 1.000
Total Incurred Claims $250,094 $23,049 $196,855 $449 $390,143
Premium Analysis
Premium Earned $660,823 $650,971 $687,633 $553,518 $652,310
Adjusted Premium $660,823 $650,971 $687,633 $553,518 $652,310
Loss Ratio 37.8% 3.5% 28.6% 0.1% 59.8%
Experience Average 26.8%
Credibility 50%
Blended Expected Claims 42.9%
LIFE / AD&D EXHIBIT
DEPENDENT LIFE RENEWAL ANALYSIS
1/01/2022- 12/31/2022
1/01/2023- 12/31/2023
1/01/2024- 12/31/2024
1/01/2025-
Death Claims Paid $32,500 $170,000 $82,500 $12,500 $20,000
Change in Death Pendings ($12,500) $20,000 ($20,000) $0 $0
Conversion Charge $0 $0 $0 $0 $0
Portability Charge $0 $0 $0 $0 $0
Interest to Beneficiaries $701 $0 $0 $86 $0
Change in Disability Reserves $0 $0 $0 $0 $0
Change in IBNR $224 ($961) ($216) ($2,899) $1,315
Subtotal $20,925 $189,039 $62,284 $9,687 $21,315
Demographic Adjustment 1.000 1.000 1.000 1.000 1.000
Total Incurred Claims $20,925 $189,039 $62,284 $9,687 $21,315
Premium Analysis
Premium Earned $123,722 $116,038 $114,310 $91,120 $101,639
Adjusted Premium $123,722 $116,038 $114,310 $91,120 $101,639
Loss Ratio 16.9% 162.9% 54.5% 10.6% 21%
Experience Average 55.5%
Credibility 60%
Blended Expected Claims 69.2%
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