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Gathering data To calculate a mod, you will need to know the experience rating period, payroll data, and loss data. The experience rating period is typically three consecutive periods excluding the most recently completed policy period. For example, for a mod with an effective date of 1/1/2005, the policy periods will typically be
The data you will need to input (or import) includes:
You can get this information from a bureau worksheet if the mod has already been promulgated by the bureau. If you are calculating a mod prior to its promulgation, you may need to use data from the client's records, the insurance carrier, and/or old mod sheets. The following example is for an NCCI calculation. While the payroll and loss screens vary somewhat for PA/DE and NJ calculations, the overall flow of data entry for the calculation is the same.
The home page The Home page is displayed when you first start ModMaster. This page provides access to all of the functions within the software. You can navigate through ModMaster by using the pull-down menu at the top of the screen, the toolbar just under the pull-down menu, or by using links in the main body of many pages. When you are starting out, it's particularly helpful to use the right-arrow button labeled "Next" to navigate in a sequential manner through the required data entry pages of the system.
Company setup page After you have selected or created a file, the company setup page is displayed. On this page you enter the effective date, the calculation method, the policy period dates, and the manual premium (optional data but very useful on a number of reports). You can click the right-arrow "Next" button in the toolbar to go to the next page. More about the company setup page
Payroll page Enter payroll data by state and classification code for each of the policy periods in the experience rating period. More about the payroll page
Small loss page For most states, small losses under $5,000 can be grouped and entered on this page. Pay special attention to losses that are type 6, medical-only losses. These losses are reduced by 70% and must be indicated as type 6 in the IJ code field in order for the calculation to be correct. You can click the right-arrow "Next" button in the toolbar to go to the next page. More about the small loss page
Large loss page
More about the large loss page
Other large loss views Click on the "View" button in the toolbar to go to spreadsheet-type views of the loss data. Many users find this view convenient for entering and visually checking data.
Calculating the mod From any large loss view, you can click the right-arrow "Next" button in the toolbar to go to the mod calculation step. You can also click the "Calculate" button in the toolbar on most pages to force a calculation at any time. The resulting summary screen shows the key values in the mod calculation. You can click the right-arrow "Next" button in the toolbar to go to the reports and graphs page. More about the Mod Summary page
Report options ModMaster includes over twenty different preformatted reports and graphs which present the mod and its data in various summary, detailed, and analyses views.
Reports and graphs page The reports and graphs page has two lists from which you can select reports. The list on the left shows every report available for the current file's calculation method. Select items in this list by clicking on them (hold down the control key and click to make multiple selections), then preview or print the selected reports by clicking the large "Print Preview" or "Print Now" buttons below the list. The list on the right shows categories of reports that may interest you. Select a category to see the reports that are included, then click the link below that which says "Preview the above reports now". More about the reports and graphs page
Bureau-type report The bureau-type report reports the detail and summary data for the mod calculation in the format which you and your client may already be familiar with.
Summary report The summary report shows how the numbers for this calculation plug into the mod formula. This report also shows the minimum mod, that is the mod with no losses. It's sometimes very helpful for clients to see their mod and then what their mod could have been with no losses. A related report is the Mod Impact on Premium Analysis report
Snapshot report The snapshot report shows the most important aspects of the mod calculation and analysis on a single page. This includes the key values, a graph of the average mod, the current mod, the minimum mod, and the controllable mod. An additional graph shows the losses by policy period.
Other reports See Reports to Help You Communicate the Mod for information about additional reports and graphs within ModMaster.
For more help and info Be sure to view the ModMaster WebHelp Index for a complete listing of all tutorials and videos. Also use our FAQs and articles, or send us a question if you don't find the answer on our site.
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