Event Details
Virtual Workshop
December 7, 2018
About This Event
The four-part Basic Ratemaking virtual workshop offers a complete understanding of the basic concepts and practices needed for ratemaking. These concepts include how to calculate an overall indication, how to calculate indications for various rating plans and consider data on a multivariate basis, how to develop increased limit factors with data, and how to present this data in a rate filing.
January 9, 16, 23, 30 Every Wednesday (12:00 – 1:30 PM ET)
Note: Registration form is best viewed in Internet Explorer.
When registering for this event online, please select your reg type to see the event fees available.
The four-part Basic Ratemaking virtual workshop offers a complete understanding of the basic concepts and practices needed for ratemaking. These concepts include how to calculate an overall indication, how to calculate indications for various rating plans and consider data on a multivariate basis, how to develop increased limit factors with data, and how to present this data in a rate filing.
The virtual workshop will have limited attendance and will take place online in a virtual meeting space that will allow attendees to speak to the instructor after an online lecture. Participants will also be expected to complete pre-work prior to each hour long lecture in order to make the most out of the instruction.
Attendees must sign up for the entire series in order to participate.
CONTACT US
For more information on content, please contact Nora Potter, Education Coordinator, at npotter@casact.org.
For more information on attendee registration, please email the Actuaries' Resource Center at arc@casact.org.
For more information on other CAS opportunities or regarding administrative policies such as complaints and refunds, please contact the CAS Office at (703) 276-3100 or office@casact.org.
REGISTRATION (LIMIT UP TO 20 PARTICIPANTS)
Note: Registration form is best viewed in Internet Explorer.
When registering for this event online, please select your reg type to see the event fees available.
| Early (Before December 7) | Late (After December 7) |
Member | $400 | $500 |
Non-Member | $600 | $700 |
TECHNICAL REQUIREMENTS
Test your system - https://care.citrixonline.com/gotomeeting/get-ready
CANCELLATION INFORMATION
Registrations fees will be refunded for cancellations received in writing at the CAS Office via fax, 703-276-3108, or email, refund@casact.org, by December 21, 2018 less a $100 processing fee.
SPEAKER BIOS
Chris Cooksey
Chris Cooksey is Guidewire’s Predictive Analytics actuarial expert and leader of the Predictive Analytics Professional Services Team. Prior to Guidewire, Chris was the Chief Actuary of EagleEye Analytics. He began his career with 12 years at Nationwide Insurance in a variety of pricing roles, including leading the Nonstandard Auto Research and Development group.
Chris received his Bachelor of Science in Physics from Valparaiso University and Masters in Physics from Ohio State University. He is a Fellow of the Casualty Actuarial Society, and a Member of the American Academy of Actuaries and the CAS Institute. Chris holds the Certified Specialist in Predictive Analytics designation.
Patrick Stapleton
Patrick is currently working as an Associate Actuary at Allstate Insurance Company, supporting the Allstate Home and Auto pricing team. He has been with Allstate since August 2012 and previously worked for 2 years as an Analyst on the Encompass pricing team, and 1 year as an Analyst on the Allstate Home and Auto pricing team. He is a Fellow of the CAS and a member of the AAA.
Patrick graduated from the University of Illinois at Urbana-Champaign with a Bachelors degree in Actuarial Science in May 2012. He currently lives in Chicago, and in his free time I enjoys reading, running, and watching Chicago sports.
Wed, January 9
TOPIC – Introduction to Basic Ratemaking
The fundamental insurance equation is the foundation of the ratemaking process. This session will include techniques for adjusting historical data to estimate its various components, premiums, losses, expenses, and profit, in the relevant pricing time period. The session will conclude by briefly exploring other considerations company management should make, along with the cost-based rate indication derived from the fundamental insurance equation, to determine what rates to charge in practice.
Speaker: Patrick Stapleton
Wed, January 16
TOPIC – Ratemaking Relativities
This session will examine the various methods that actuaries use to allocate overall average rates to various subdivisions of a line of business, including territories, classifications, and tiers. Some of the methods discussed will consist of univariate, multivariate, and generalized linear modeling techniques.
Speaker: Chris Cooksey
Wed, January 23
TOPIC – Estimating Claim Liabilities
This session will focus on estimating claim liabilities including development factor techniques, advantages and disadvantages of different methods, diagnostics of the various methods, and practical considerations.
Speaker: Patrick Stapleton
Wed, January 30
TOPIC – Large Account Pricing
This session will examine the differences between large accounts and small accounts, and how they can and should be treated differently from an insurance pricing perspective. Participants will be introduced to pricing methods that both utilize the increased credibility of large account experience and recognize the uniqueness of each risk. Specifically, this session will serve as an introduction to experience rating, schedule rating, and retrospective rating.
Speaker: Chris Cooksey
