Search Presentations
STAY TUNED! If you are anticipating additional search filters by attribute and level to align with the CAS Capability Model, it is coming later this Summer. As the CAS begins to code recorded sessions by specific attributes and levels (starting with the 2023 Annual Meeting), these will be tagged in the CAS database of presentations going forward and should be searchable.
But you may use the Capability Model now to help you identify topics. For example, if you want to move up one level under the content area “Functional Expertise,” you may search topics in the particular functional area to expand your knowledge.
Recorded content is searchable by Capability Model attribute and level in the CAS Online Library.
Refine Your Search
The presentation materials are offered in connection with CAS professional education offerings. © 2022 Casualty Actuarial Society. All Rights Reserved. The presentation materials may contain copyrighted content the use of which has not been specifically authorized by the copyright owner. You are permitted to view and print the materials for personal/professional noncommercial research purposes. Except for the foregoing, you agree not to reproduce, distribute, modify, create derivative works, or commercially exploit the presentation materials without prior written permission from CAS. Please direct any copyright permission inquiries regarding use of the presentation materials to acs@casact.org.
STAY TUNED! If you are anticipating additional search filters by attribute and level to align with the CAS Capability Model, it is coming later this Summer. As the CAS begins to code recorded sessions by specific attributes and levels (starting with the 2023 Annual Meeting), these will be tagged in the CAS database of presentations going forward and should be searchable.
But you may use the Capability Model now to help you identify topics. For example, if you want to move up one level under the content area “Functional Expertise,” you may search topics in the particular functional area to expand your knowledge.
Recorded content is searchable by Capability Model attribute and level in the CAS Online Library.
Severe Weather Workshop - Part VI: Model Blending
Driven by regulatory pressures, concerns over model uncertainties, impact of model changes, and an increasing desire to "own" their own view of risk, users of cat models in the re/insurance industry have been looking to create blended views of risks. The blending process deals with challenges such as frequency and severity distributions from different models, event correlations, convergences, selection of weight, etc. This collaborative session will present, for discussion, different techniques that can be used to create a blended view of risks.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Workshop
Moderators:
Harry Rhulen
Panelists:
Minchong Mao
Severe Weather Workshop - Part V: Overview of Traditional Methods for Incorporating Weather Activity in Rates
Property insurance results can be volatile due to the catastrophic nature of the risk involved. The hurricane peril is typically a major risk for many property insurance companies; however, in recent years, events like wildfires and tornadoes have been more prevalent than in the past, threatening to wipe out any potential profit and increase the chance for insolvency. This session will describe how insurance companies account for these previously non-modeled catastrophes within their pricing methodology. In particular, methodologies that organize data into catastrophe versus non-catastrophe events or weather versus non-weather events and the associated advantages and disadvantages of each will be discussed.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Workshop
Moderators:
Harry Rhulen
Panelists:
Martin Simons
Severe Weather Workshop - Part IX: Non-Pricing Ways to Deal with Severe Weather
This session will discuss several alternatives for managing severe weather (wind) risk, such as deductibles, underwriting guidelines, exposure management, inspections, policy conditions/changes/exclusions and more.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Workshop
Moderators:
Harry Rhulen
Panelists:
Richard Moncher
Severe Weather Workshop - Part IV: Severe Weather Modeling – Part 3
Dr. Botts from CoreLogic will discuss the latest advances in severe weather modeling.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Workshop
Moderators:
Harry Rhulen
Panelists:
Howard Botts
Severe Weather Workshop - Part III: Severe Weather Modeling – Part 2
This presentation will focus on the importance of Geospatial accuracy when developing and using Natural Catastrophe models. It will also touch briefly on recent product updates and refinements within the CoreLogic/EQECAT portfolio of insurance solutions.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Workshop
Moderators:
Harry Rhulen
Panelists:
David Lalonde
Severe Weather Workshop - Part II:  Severe Weather Modeling – Part 1
Recent events have highlighted the increasing trend of both the frequency and severity of severe convective storm outbreaks. The 2014 Severe Convective Storm update in RiskLink 13.1 is informed and validated with $5 billion in location-level exposure and claims data, and the over $70 billion in industry loss data gathered from the events of 2008-2013. The new view of SCS risk provides underwriters and portfolio managers with intelligence that goes beyond intuition and claims records, delivering for the first time the tools and capabilities to truly understand the current and future severe convective storm risk landscape.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Workshop
Moderators:
Harry Rhulen
Panelists:
Matthew Nielsen
Severe Weather Workshop - Part I:  The Impacts of Climate Change on Actuarial Methods
There is a large difference between the General Session public's knowledge of Climate Change and the evidence. The Actuaries Climate Index is being developed to educate the public about Climate Change and to enhance our profession. The Actuaries Climate Risk Index will also include exposures as a measure of Climate Change Risk. In this interactive session, participants will learn how the Indices are being developed and what characteristics we want the Indices to have, they will see some of the indices in the development stage, and they will be able to provide feedback on whether the indices communicate the right information in the right way.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Workshop
Moderators:
Harry Rhulen
Panelists:
Stephen Kolk, Caterina Lindman
Risk and Return Considerations in Ratemaking: Calculating the Profit Provision
After you have the projected loss costs and expenses, the final step in deriving the indicated premium is to load in the underwriting profit provision. But what is the right number? This session will supply not one, but several answers to that question. It will survey different approaches, from those mandated by regulators to those used by corporate pricing actuaries for internal profitability analysis. The assumptions and parameter selections for each method will be discussed and the sensitivity of results to key parameters will also be explored. The session will have a practical focus with an emphasis on clarifying basic concepts and highlighting key distinctions between different methods.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Harry Rhulen
Panelists:
Ira Robbin
Research Paper: Water Damage Risk and Canadian Property Insurance Pricing
The Canadian Institute of Actuaries (CIA) engaged KPMG LLP (KPMG) to conduct a research project on water damage risk and Canadian property pricing on behalf of the P&C Research Sub-Committee of the Committee on Research (CIA Sub-Committee). In recent years, damage from water and other climate-related perils have emerged to replace fire and theft as the largest source of claim costs for Canada’s property and casualty (P&C) insurers. Systematic under-pricing of water damage risk threatens insurance company profitability and capital and has the potential to lead to property insurance availability issues for both personal and commercial property products.
Historically, actuaries have conducted ratemaking analyses for property insurance using traditional methods in which historical claims are developed to an ultimate basis and adjusted for trend to the prospective policy period. Provisions for catastrophes and large claims (such as those associated with water damage) are added as loadings based on the long-term experience of the insurer. Many believe that historical claims may no longer be predictive of future claims due to: • Climate change;
• Aging and inadequate infrastructure;
• Lifestyle changes;
• Construction-related issues; and
• Human behavior.
KPMG was asked to investigate the question: “What can Canadian P&C actuaries do to adapt their property pricing models in order to incorporate these external measures of potential risk exposure?”
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Harry Rhulen
Panelists:
Jacqueline Friedland, Houston Cheng, Marc-Olivier Faulkner
Product Development Workshop - Part I: Niche Identification
During this session participants will learn key elements of niche identification. Facilitators will explore how developing a new product is often about identifying an underserved niche and finding ways to attract risks more likely to be profitable.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Harry Rhulen
Panelists:
Robin Harbage
Pricing Analytics for the Small and Mid-Sized Insurance Companies
More and more companies are competing on analytics, putting pressure on small and mid-sized insurance companies who don’t have the resources or data to do many of the advanced analyses that bigger companies are performing. This session discusses pricing analyses that small and mid-sized insurance companies can use to fight adverse selection and maintain their competitive position. The session will also include a case study of real world implementation issues from the perspective of a mid-sized insurance company.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Harry Rhulen
Panelists:
Len Llaguno, Michael Moss
Price Optimization for the US Market: Techniques and Implementation Strategies
Over the past two years, with an increase in integration of customer demand information into the ratemaking process, there has been a significant increase in the adoption of price optimization approaches in the U.S. This session will consider the technical aspects of price optimization, from establishing an understanding of elasticity to deriving rating structures that best meet corporate objectives. The incorporation of practical business and regulatory constraints will also be discussed. The session will also examine the advantages and disadvantages of optimizing the rating relativities directly as opposed to modeling individually optimized premiums.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Harry Rhulen
Panelists:
Yves Colomb, Mark Chamberlain
Predictive Modeling Pitfalls – When to Be Cautious
There are many success stories featuring predictive models, but what does not get so widely reported are the disasters. This discussion will review some conceptual pitfalls and then ask participants to share their own horror stories, with names changed to protect the innocent.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Harry Rhulen
Product Development Workshop - Part V: Regulation
Depending on the product, the regulatory concerns can be substantial. During the session, key questions and how their answers affect filing strategy, will be discussed. For example, is the company making a new filing or revising a current one? What is the impact on existing customers? Will the change improve the potential for more customers to be written, thus reducing state pools? How were rates substantiated?
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Harry Rhulen
Panelists:
Thomas Hess
Predictive Analytics: Delivering on the Promise of Big Data
The excitement over "big data" has grown dramatically. But what is the value, the function, or the purpose? The most actionable win to be gained from data is prediction. This is achieved by analytically learning from data how to render predictions for each individual. Such predictions drive more effectively millions of operational decisions organizations make every day.
In this keynote, Predictive Analytics World founder and Predictive Analytics author Eric Siegel, reveals how predictive analytics works, and the ways in which it delivers value for the insurance industry.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Panelists:
Eric Siegel
Predicting Wind and Hail Losses with Accurate Roof Age
Roof-related losses have been on an historic rise due to an increase in severe convective storms, an aging housing stock, and a lack of homeowner-funded preventative maintenance. To make matters worse, carriers have traditionally relied upon self-reported roof age, which is certainly not ideal. This session will go through some strategies of validating self-reported roof age (how bad is it?), and then will examine the predictive power of accurate roof age for wind and hail losses through an underlying dataset of more than 1 million records.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Harry Rhulen
Panelists:
Joe Emison
Predicting the Unpredictable Commercial Line Business – Predictive Modeling Applications for Excess Loss and Specialty Lines
In the last several years, people have begun to apply predictive modeling techniques to commercial business. The commercial line applications have been focused on the primary lines of business, including Auto, BOP, WC, and Package. In this session, we will discuss how predictive modeling can be further applied to more difficult and volatile commercial business. Two topics will be presented, one on specialty business such as D&O and EPL, and the other on excess loss.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Matthew Ball
Panelists:
Matthew Carrier, Mark Hoffmann, Denys Lebedev
Predicting Homeowners’ Losses: Which Characteristics Matter?
Homeowners’ losses have historically been seen as harder to predict than auto losses, as less of the risk relates to the owner, and more of the risk relates to the property. Many believe that properly predicting homeowners’ losses requires a cornucopia of different characteristics, mainly on the property. In this roundtable discussion, we’ll talk through which data points (both actually and theoretically available) should be the most effective, and try to lay out a rough guess of how much loss we should theoretically be able to predict.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Stephen Kolk
ORSA, Implications for P&C Insurance Pricing
The International Association of Insurance Supervisors has adopted core principles for insurance solvency regulation that include an Own Risk and Solvency Assessment (ORSA) requirement. The NAIC has responded by developing a new ORSA requirement for U.S. insurers, and is now conducting a pilot with about a dozen insurers.
This session will share some of the experiences from the NAIC's pilot study, focusing particularly on pricing and project management for P&C insurers. There will be ample opportunity for questions and answers.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Ran Lin
Panelists:
Jeffery Becker, Bill Harrington
Model Blending
Reliance on models is becoming more commonplace in insurance pricing, underwriting, catastrophe management and fraud detection. This session will facilitate a discussion about blending output from multiple models and provide some ideas for where model blending may be used. Additionally, the session will focus on blending catastrophe models, an example of model blending gaining popularity in the insurance industry. The benefits of this approach include: modeled results that better reflect a company’s actual claims experience and reduced model risk from no longer relying on a single vendor model.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Ran Lin
Panelists:
Adam Troyer, Lu Li
Medical Professional Liability Issues and Trends for 2014 and Beyond
This session will provide an exciting recap of issues and trends that have helped to shape the medical professional liability market today. The panelists will also dig deeper into the following important areas of interest: • The opioid epidemic
• Leveraging Root Cause Analysis (RCA)
• Emerging security & privacy risks
• The impact of obesity on MPL claims
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Ran Lin
Panelists:
Kevin Bingham, Alix Michel, Arvind Kumar
Looking for Profit in Homeowners Insurance
The discussion will center around the many issues that plague homeowners insurance, including weather issues, consumer pressures on pricing and claims coverage, regulatory constraints and the many regional challenges. The roundtable discussion will challenge the business cases for staying in the homeowners insurance market, and explore ways to respond to the myriad of challenges and improve the business value proposition of this volatile product.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Ran Lin
Leading Practices in Automating Underwriting for Small Commercial Insurance
In this session, the panelists will discuss how leading insurance companies use automated underwriting, powered by analytics, to accelerate profitable growth in the small commercial insurance marketplace. In fact, industry research indicates that certain small business customers may have an appetite for purchasing commercial insurance direct from carriers. In response to this emerging trend and financial pressures, automated underwriting initiatives that focus on improving no-touch / low-touch flow rates in existing portfolios, may be part of a disruptive marketplace strategy, or fall somewhere in between. In these scenarios, achieving business objectives requires consideration of the impacts to product design, pricing, and organizational capabilities. This session will cover the challenges and benefits of automated underwriting, illustrated through real life examples and practical experience.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Panelists:
Kelly Cusick, Donna Schlegel
Large Loss Distribution and Regression Analyses
Property and casualty insurance is a volatile business. It is important for P&C actuaries to understand large loss behaviors. Large-loss distribution estimation has a wide-range of applications, including excess-of-loss pricing, economic capital model, and dynamic financial analysis. In this session, the panelists will start to fit traditional loss distributions (lognormal, General Sessionized gamma, General Sessionized Pareto, Truncated Pareto, Mixture exponential, and other mixtures) to use moment matching, nonlinear least-square and maximum likelihood methods. In the 2nd half of presentation, the panelists will extend the curve fitting by introducing multivariate predictors/covariates. Various regression techniques are applied to deal with the skewness and right censorship of loss data, including Tobit, GLM, and finite mixture model (FMM). Due to the difficulties of solving complicated maximum likelihood functions associated with censored data under GLM or FMM frameworks, an EP (expectation and projection) iterative algorithm is used to derive the model coefficients numerically. A commercial-line case study will illustrate those techniques and compare the results.
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Ran Lin
Panelists:
Luyang Fu, Andrew Kwon
Is Insurance Credit Scoring Here To Stay? 
In this roundtable discussion, we will walk through the history of credit scoring in insurance from it’s infancy to the current state and where we are today. Among the topic areas we will explore are: • Credit scoring applications in insurance (personal and commercial lines)
• Best practices in credit scoring
• Current challenges
• Alternative/surrogate data to credit information
Source:
2014 Ratemaking and Product Management Seminar
Type:
Concurrent Session
Moderators:
Ran Lin
Panelists:
Watson
