M6: Using Multiple Modeling Techniques to Estimate First Floor Height
This session will show how you can use multiple modeling methods within a single project to get the best solution. We will examine how multiple statistical and expert models are studied and how to use tradeoffs in choosing between them. We will also review the vast amount of data that is used to build and validate the model results.
Source:
2022 Ratemaking, Product and Modeling Virtual Seminar
Type:
Concurrent Session
Moderators:
Howard Kunst
Panelists:
Taylor Brown, Fabien Huard
M5: Dislocation Analysis: Segment Detection of Disrupted Rates
Source:
2022 Ratemaking, Product and Modeling Virtual Seminar
Type:
Concurrent Session
Moderators:
Gaetan Veilleux
Panelists:
Robert Zolla, Guillaume Beraud-Sudreau
M4: Transparent Models with Machine-Learning: Rethinking the Modeling and Validation Process
Actuarial modeling puts a strong emphasis on model transparency. Transparency and clarity is often obtained at the expense of the automation of the modeling process, and opposed to automated modeling or machine-learning.
In this presentation, we will discuss how transparency is a feature of the model, not the modeling process. With the right technologies, automated modeling can generate transparent models. We will demonstrate how credibility can be incorporated in standard GLM modeling by adding prior assumptions to the coefficients. Furthermore, we will explore how the choice of the right hypothesis can replace the need for heavy feature engineering on ordinal variables to develop sound and predictive models.
In particular, we will discover how a Generalized Linear Model with Credibility assumptions performs relative to classic criteria such as a likelihood or statistical testing, review the role of the modeler, and the model validation process, in an environment mixing automated model creation with an in-depth investigation of transparent models.
Source:
2022 Ratemaking, Product and Modeling Virtual Seminar
Type:
Concurrent Session
Moderators:
Joseph Sveda
Panelists:
Guillaume Beraud-Sudreau
M2: Creating Text Topics for Modeling Using Singular Value Decomposition (SVD)
Freeform text data can contain a wealth of information to make predictions for future outcomes. However, it is difficult to know where to start building variables from such a large volume of text. This is where Singular Value Decomposition (SVD) can help you! In this session, you will be able to see how an SVD analysis can take freeform text data and simplify it into a small number of "topics" (components that explain the most variation), which you can then use in your predictive models.
Source:
2022 Ratemaking, Product and Modeling Virtual Seminar
Type:
Concurrent Session
Moderators:
Denise Christophel
Panelists:
Alan Johnson
Keywords:
Predictive Modeling
M1: Introduction to Accurate GLM
In traditional GLM modeling, categorical features are often treated with one-hot encoding. However, this method of encoding removes any ordering information inherent in the data. With accurate GLM, we propose to utilize an alternative encoding approach which allows us to preserve the ordering information. In this presentation, we will introduce the accurate GLM approach to modeling and discuss what motivated the approach. We will make a comparison of this approach to traditional GLM and GAM approaches, and illustrate the approach through simulated data modeling exercises and a case study.
Source:
2022 Ratemaking, Product and Modeling Virtual Seminar
Type:
Concurrent Session
Moderators:
Michael Chen
Panelists:
Gary Wang, Hirokazu Iwasawa
Keywords:
Predictive Modeling,Statistical Models and Methods
GS3: Trends in Economic and Demographic Data, and How Could that all Impact Insurance
Source:
2022 Ratemaking, Product and Modeling Virtual Seminar
Type:
General Session
Moderators:
Peter Tomopoulos
Panelists:
Kelly Karres, Carson Wilson
GS2: Bias and Fairness: Laying the Foundation for the Path Forward on Race and Insurance
As subject matter experts in our field, actuaries will be leading the charge in insurance industry efforts to identify, measure, and address issues of potential racial bias in insurance pricing. In December 2021, the Casualty Actuarial Society published four research papers as part of the CAS Approach to Race and Insurance Pricing. This session will share key learnings from each of these research papers to answer important questions. Can the insurance industry agree on a single definition of unfair discrimination? How have historical policies and practices outside of insurance led to increased scrutiny on P&C Insurance rating variables? What lessons can we learn from other financial services industries and their approaches to addressing racial bias? How can we quantify and measure discriminatory effects in insurance pricing? With a clear understanding of these issues, actuaries will be well-prepared to share our insights and develop solutions to address potential racial bias in insurance pricing.
Source:
2022 Ratemaking, Product and Modeling Virtual Seminar
Type:
General Session
Moderators:
Mallika Bender
Panelists:
Sharon Mott, Robin Harbage, Kudakwashe Chibanda, Roosevelt Mosley
GS1: The Computer Knows Your Secrets: The Power, Challenge, and Opportunities of AI + Personal Data
Source:
2022 Ratemaking, Product and Modeling Virtual Seminar
Type:
Featured Speaker
Moderators:
Eric Krafcheck
Panelists:
Jennifer Golbeck
PP-1: A Trend Renewal Model for Micro/Macro Loss Reserve
Paper Presentation
Source:
2022 Spring Meeting
Type:
Paper Presentation
Panelists:
Anas Abdallah
GS-4: COVID-19: Impact on the Industry
General Session
Source:
2022 Spring Meeting
Type:
General Session
Moderators:
Benoit Carrier
Panelists:
Brian Brown, Joseph Herbers
GS-3: Regulating InsurTechs
General Session
Source:
2022 Spring Meeting
Type:
General Session
Moderators:
Ryan McMahon
Panelists:
Rachel Jrade-Rice, Melanie Irvin, Anthony Habayeb, Evan Daniels
GS-2: Climate Change and Related Risks to Insurers and Reinsurers
General Session
Source:
2022 Spring Meeting
Type:
General Session
Moderators:
Ron Kozlowski
Panelists:
Robin Wilkinson, Tim Fletcher
GS-1: Economic and Social Inflation
General Session
Source:
2022 Spring Meeting
Type:
General Session
Moderators:
Benoit Carrier
Panelists:
William Wilt, William Finn
FS1: How Insurance Actuaries Can Be the Heroes of the Post-Pandemic Recovery Via Behavioral Science
Featured Speaker
Source:
2022 Spring Meeting
Type:
Featured Speaker
Panelists:
Dr. Gleb Tsipursky
ED-1: Unlocking the Potential of ML for Pricing
Exhibitor Demo
Source:
2022 Spring Meeting
Type:
Exhibitor Demo
Panelists:
Bruno Becha, Boriana Trifonova
CS-9: Deep Dive on the Code of Conduct
Concurrent Session
Source:
2022 Spring Meeting
Type:
Concurrent Session
Moderators:
Ron Kozlowski
Panelists:
Ronald Kozlowski, Steve Merkey, Patricia Teufel
CS8: Cultivating an Inclusive Workplace
Concurrent Session
Source:
2022 Spring Meeting
Type:
Concurrent Session
Moderators:
Meagan Mirkovich
Panelists:
Rae Warner, David Terne, Norah Barnes
CS-7: Climate Change and Audits
Concurrent Session
Source:
2022 Spring Meeting
Type:
Concurrent Session
Moderators:
Graham Hall
Panelists:
Hannah Clouser, Edward Tobin, Xavier Crepon
CS-6: Building Resilience as an Actuary
Concurrent Session
Source:
2022 Spring Meeting
Type:
Concurrent Session
Moderators:
Brent Rossman
Panelists:
Brent Rossman
CS-5: Best Practices for Expanding Your Actuarial Recruitment Pipeline
Concurrent Session
Source:
2022 Spring Meeting
Type:
Concurrent Session
Moderators:
Mike Boa
Panelists:
Grace Grant, Regina Kintana, Bright Amudzi, Karthik Balaji
CS-4: Applying Predictive Modeling to Auto Insurance Pricing Optimization
Concurrent Session
Source:
2022 Spring Meeting
Type:
Concurrent Session
Moderators:
Lynne Bloom
Panelists:
Peter Phillips, Kevin (Kailan) Shang
CS-32: What Does ESG Mean for Underwriting and Insurance?
Concurrent Session
Source:
2022 Spring Meeting
Type:
Concurrent Session
Moderators:
Ron Kozlowski
Panelists:
Graham Hall, Xavier Crepon
CS-31: We're not in Kansas anymore, Dorothy! Midwest Derechos/Thunderstorms
Concurrent Session
Source:
2022 Spring Meeting
Type:
Concurrent Session
Moderators:
Meagan Mirkovich
Panelists:
David Hamilton, David Smith, Juergen Grieser, Sarah Bobby
CS-30: Warranty & Service Contracts
Concurrent Session
Source:
2022 Spring Meeting
Type:
Concurrent Session
Panelists:
Aadil Ahmad, Ryan McAllister
CS-3: Applications of Data Science
Concurrent Session
Source:
2022 Spring Meeting
Type:
Concurrent Session
Panelists:
Matthew Duke, Michael Parcelli