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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.
The Three Pillars of Analytics
Today, you can access rich and diverse data from numerous public and fee-based sources. But, turning the raw information into useful and actionable insights isn't easy and requires sophisticated tools and significant investment in infrastructure and quantitative resources. This session will introduce you to three key aspects of analytics that anchor the foundations of a sound analytics practice. We will explore the prevalence of data available for mining, innovations in data processing to better derive predictive features for analysis, and increasingly sophisticated analytics methods for uncovering the relations of the new and refined data elements with risk potential. In laying the ground work for a sound analytics practice, the session will provide a survey of the analytics landscape and introduce areas of interest for further investigation.
Source:
2012 Ratemaking and Product Management Seminar
Type:
concurrent
Moderators:
Mark Scanlon
Panelists:
Gary Wang, Rama Duvvuri
Usage-Based Insurance: Are You Ready?
Usage-based Automobile Insurance (UBI) is now being implemented by a number of insurers and the battle for product differentiation using telematics data is heating up. The telematics data is clearly powerful for use in segmentation and the economics are now becoming favorable for mass rollout to consumers. As a result, UBI has caught the attention of most insurers and actuaries are being asked the difficult questions regarding how and why to implement. This session is designed to educate participants regarding the current status of UBI and explore key elements that must be answered to understand the challenges for implementation.
This session will cover important questions:
* What is the current market landscape for usage-based insurance?
* What data can be obtained from telematics and how powerful is this data for risk segmentation and product differentiation?
* How are insurers and telematics providers overcoming the obstacles to implementation?
Source:
2012 Ratemaking and Product Management Seminar
Type:
concurrent
Moderators:
Greg Hayward
Panelists:
Robin Harbage, Allen Greenberg, Eric Minikel
Severe Weather Ratemaking
The last few years have been filled with various weather events that are putting existing property ratemaking methodologies to the test. This session will bring multiple severe weather issues to light and discuss potential ways to adjust indicated loss provisions to account for these issues. The problem will be approached from both a modeling perspective as well as from a historical loss perspective.
Source:
2012 Ratemaking and Product Management Seminar
Type:
concurrent
Moderators:
Greg Hayward
Panelists:
David Lalonde, Kathryn Rokosz
Predictive Modeling Solutions Applied to Non-Traditional Products
Banks are providing insurance type products under the name debt protection that offer benefits for life events of great variety (unemployment, hospitalization, birth, death etc.). From an analytical standpoint, these products invite predictive modeling tools for loss forecasting purposes due to stress testing requirements and since the order of events matters. For example, someone unemployed receives benefits under that status but does not collect from a concurrent hospitalization as well. This is different from a combined auto-home policy where two independent policies are paired. We will discuss recent developments around debt protection products and then present a predictive modeling approach that reflects competing risks.
Source:
2012 Ratemaking and Product Management Seminar
Type:
concurrent
Moderators:
Stephen Lindo
Panelists:
Mark Hoffmann
Implementing Value Based Pricing - What and How People Buy
Mr. Baker will build upon his well received sessions on breaking commodity based thinking from previous RPM Seminars. Developing an understanding of the nine factors of price sensitivity not only will assist actuaries in creating better models but provide a platform for management and product managers to identify new niches, better place insurance products, and begin to price customers and not policies.
Source:
2012 Ratemaking and Product Management Seminar
Type:
concurrent
Moderators:
Perry Mehta
Panelists:
Ronald Baker
Intelligent Use of Competitive Analysis
Competitive analysis is one of the key elements in measuring the performance of a rate algorithm. This requires the capture and analysis of competitive data. Over the years, much work has been performed in capturing the data; however, there is a significant lack of sophistication in analyzing it. This session will begin by discussing the sources and challenges of acquiring good competitive information. Then, the focus will be on how to analyze the data to make informed decisions. Analysis strategies will run the gamut of traditional mining of the data to more sophisticated analysis and then to incorporation of the information into demand curves.
Source:
2012 Ratemaking and Product Management Seminar
Type:
concurrent
Moderators:
Perry Mehta
Panelists:
Serhat Guven, Kelleen Arquette
Business Driven Implementation Strategies
Predictive models have become more sophisticated and are applied to more areas of the insurance business (pricing, underwriting, claims triage, etc.) actuaries have become more involved and adept in model development, but rapid, high quality model implementation remains a key challenge to obtaining value from the analytic work. Actuaries are taking a more active end-to end role in the business process, from initial consideration to implementation design to long term model maintenance strategy.
This session will discuss essential tenets that will help actuaries take a business driven approach to model implementation and play a larger role insolution design. Topics will include getting early focus on implementation, managing management expectations, using the right resources for the organization and budget, working with IT. And other parts of the organization, and building for the inevitable future model changes and enhancements.
Source:
2012 Ratemaking and Product Management Seminar
Type:
concurrent
Moderators:
Perry Mehta
Panelists:
Ravi Kumar, Don Seibert
Lessons Learned: Viewpoints on Increasing Analytical Capabilities in an Organization
The success or failure of modeling projects extends far beyond mastering the technical details. The panel will explore lessons learned from 'real life' modeling and analytics projects across multiple lines of business and organizations. The discussion will contrast 'successful' and 'unsuccessful' practices related to : articulation of project goals, project planning, staffing, data preparation, IT constraints, consultants/development partners, corporate culture/change management.
Source:
2012 Ratemaking and Product Management Seminar
Type:
concurrent
Moderators:
Perry Mehta
Panelists:
Claudine Modlin, Elizabeth Riczko
And the Overall Rate Indication is?
As companies gain better understanding of their customer's sensitivity to price, more insurers are implementing Rate Capping programs. Under Rate Capping, a customer's rate increase (or decrease) may be capped at renewal. This means two identical insureds may pay different rates, at least in the near term.
The primary motivation for doing this is that companies believe this meets their customers' preference for stable rate changes. However, managing Rate Capping can prove difficult. In this session, we will discuss the various challenges of using Rate Capping such as implications for rate indications, managing calendar year results, implementation, and data. The panel will discuss how some companies have addressed these inherent complexities.
Source:
2012 Ratemaking and Product Management Seminar
Type:
concurrent
Moderators:
Perry Mehta
Panelists:
Susan Bermender, Jeremy Jump, Morgan Bugbee
Data Management Call Paper Session #2: Beginner's Roadmap to Working with Driving Behavior Data
Usage-based auto insurance has received considerable publicity, but the driving behavior data that fuels these programs has been the subject of limited academic scrutiny. This session will provide historical context and identify key challenges and risks that result from working with this data. It will also explore the infrastructure required to support data collection, with a focus on vehicle telematics. Finally, the session will discuss how actuaries may collect, organize, and analyze driving behaviors for use in insurance applications, and illustrate how sound data management may enable insurers to use this unique data to achieve organizational goals, while rising to the challenges and risks it presents.
Source:
2012 Ratemaking and Product Management Seminar
Type:
paper
Moderators:
Perry Mehta
Panelists:
Jared Smollik, Jim Weiss
Data Cleansing for Predictive Modeling
This session will explore special topics in data cleansing for predictive modeling. Topics that will be presented include orphan analysis, data visualization and data classification. The panelists will show what causes data issues, how we can test for them, how we can use visualization tools to find outliers and other data quality errors, how to use classification to identify distinct groupings in the underlying data, and how to clean the data.
Source:
2012 Ratemaking and Product Management Seminar
Type:
concurrent
Moderators:
Perry Mehta
Panelists:
Roosevelt Mosley, Jeremy Benson, Steven Berman
Ratemaking Call Paper Session: "How Individuals Purchase Insurance: Going Beyond Expected Utility Theory"
For insurers to be successful in the long run, they need to put forward an attractive value proposition for insureds and price sufficiently for it. To facilitate this, it is best that insurers deepen their understanding of consumer behavior in situations that involve risk. This session will survey the developing economic literature concerning how individuals make choices in the face of risk. It will be shown and illustrated that there are primitives that drive the choice behavior of individuals faced with risk. With understanding of these primitives in mind, a practicing actuary should be able to rationalize observed portfolio profitability or unprofitability, as well as anticipate the effect of some pricing and product changes on the profitability of the affected portfolios.
Source:
2012 Ratemaking and Product Management Seminar
Type:
paper
Moderators:
Perry Mehta
Panelists:
Marc-Andre Desrosiers
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:
2012 Ratemaking and Product Management Seminar
Type:
concurrent
Moderators:
Perry Mehta
Panelists:
Marina Ashiotou, Hugh Thai
Catastrophe Modeling for Commercial Lines
This session will address catastrophe modeling from a commercial lines perspective, where modeled losses can be highly dependent on assumptions concerning construction and occupancy mappings, proper accounting for policy conditions, dealing with large data sets, and extra coverages. Improved methodologies for modeling business interruption and complex industrial facilities, approaches for understanding the sensitivity of modeled losses to input data, and trends in how commercial lines insurers are using catastrophe models will be discussed.
Source:
2012 Ratemaking and Product Management Seminar
Type:
concurrent
Panelists:
David Lalonde, John Elbl
Current Megatrends: Implications for Enterprise Risk Management
Source:
2011 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Rick Gorvett
Keywords:
Enterprise Risk Management, ERM
Predictive Modeling Best Practices
Source:
2011 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Chuck Boucek
Keywords:
Predictive Modeling
Catastrophe Ratemaking and Reserving for the Florida Hurricane Catastrophe Fund
Source:
2011 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Andrew Rapoport
Keywords:
Catastrophe Ratemaking, Reserving
The Impact of Healthcare Reform and Other Challenges Facing the Medical Professional Liability Sector
Source:
2011 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Stephan Christiansen
Keywords:
Healthcare, Medical Professional Liability
Florida Property
Source:
2011 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Terry Godbold
Are Loss Reserves Reasonable in Light of Potential Underwriting Cycle Biases?
Source:
2011 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Lela Patrik, Scott Cederburg
Keywords:
Loss Reserve, Underwriting
Solvency II for US Insurers
Source:
2011 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Scott Weinstein, Asheet Ruparelia
Keywords:
Solvency II
Why Can’t Health Insurers Operate More Like Fire Insurance Companies?
Source:
2011 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Glenn Walker
Keywords:
Health, Insurance Companies
Mixing Unbiased Estimators
Source:
2011 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Leigh Halliwell
Keywords:
Mixing Unbiased Estimators
Energy Limits and Their Impact on Ratemaking
Source:
2011 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Gail Tverberg
Keywords:
Ratemaking
Emerging Issues in the CAS and AAA
Source:
2011 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Mary Miller, Gene Connell
