Taming Text: An Introduction to Text Mining
This paper introduces the methods used to do text mining and applies the method to a simple example. The paper will describe the methods used to parse data into vectors of terms for analysis. It will then show how information extracted from the vectorized data can be used to create new features for use in analysis. Focus will be placed on the method of clustering for finding patterns in unstructured text information. The paper shows how feature variables can be created from unstructured text information and used for prediction.
Source:
2006 Ratemaking Seminar
Type:
Paper
Moderators:
Wendy Germani
Panelists:
Louise Francis
Keywords:
Text Mining
Data Integration Alternatives and Best Practices
This session will illustrate the creation of databases that evolve into useful warehouses.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Wendy Germani
Panelists:
John Stenmark, Patricia Saporito
Introduction to Increased Limits Ratemaking
This session will present an overview of increased limits ratemaking. Initially, the session will cover general concepts, such as calculating Limited Average Severities, and practical problems with developing Increased Limits Factors (ILFs) from a distribution of loss data. The session will also provide an overview of Excess and Deductible pricing. Finally, the session will discuss common approaches for calculating ILFs.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Wendy Germani
Panelists:
Joseph Palmer
Basic Concepts in Credibility
Considering credibility in the context of ratemaking concepts, this session will review variables affecting credibility and credibility formulas, as well as practical techniques for applying and increasing credibility. Both classical and Bühlmann models will be described.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Wendy Germani
Bayesian Estimation of Parameters: Advantages and Practical Examples
In this session, we will introduce to P&C actuaries Simpson's Paradox and confounding and the statistical underpinning associated with those phenomena. We will further discuss how such bias may exist in P&C actuarial rating applications and solutions that can resolve the bias.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Wendy Germani
Policyholder Retention and It Impact on Pricing
In the first part of this session, the presenter will discuss the two basic, theoretically identical approaches of including the cost of reinsurance in the indication, review the pros and cons of each, and provide an example of the preferred approach, the "Net Cost of Reinsurance" method. The second half of this session will examine how regulators may be able to improve the availability and affordability of property insurance by creating incentives for insurers to tap internal capital to support Homeowners writings.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Moshe Goldberg
Panelists:
Robert Walling
Reinsurance: State of the Market
This dynamic session will touch upon these and other topics, as well as provide insights and perspectives on the current market conditions.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Moshe Goldberg
Panelists:
John Aquino, John Tedeschi
Reinsurance: State of the Market
This dynamic session will touch upon these and other topics, as well as provide insights and perspectives on the current market conditions.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Moshe Goldberg
Panelists:
John Aquino, John Tedeschi
Regulatory Roundtable Discussion
A roundtable group discussion will follow, with audience participation strongly encouraged. The differences and the similarities in regulatory approach will be highlighted.
In addition, panelists will comment on their experiences and field questions from the audience.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
John Pedrick, Kenneth Creighton, Tomasz Serbinowski
Preparing the Hearing Officer
This session will provide valuable insights on how an actuary should prepare for this set of challenges.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
Charles McClenahan, Cara Blank
The Care and Feeding of Lawyers
This session will provide valuable insights on how an actuary should prepare for this set of challenges.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
Charles McClenahan, Cara Blank
Ratemaking: An ERM Function
ERM envisions a holistic treatment of risk - both positive and negative - across an enterprise. Ratemaking and reserving are the traditional actuarial functions. How does the ratemaking silo relate to an insurer's enterprise-wide ERM process? How is ratemaking an ERM function? The panelists will address this and many more issues regarding ERM, risk and return analysis, and the ratemaking function.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
Russell Bingham, Curtis Parker
ERM and the Corporate Actuary
ERM envisions a holistic treatment of risk - both positive and negative - across an enterprise. Ratemaking and reserving are the traditional actuarial functions. How does the ratemaking silo relate to an insurer's enterprise-wide ERM process? How is ratemaking an ERM function? The panelists will address this and many more issues regarding ERM, risk and return analysis, and the ratemaking function.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
Russell Bingham, Curtis Parker
The Integration of Risk and Return in Practice - From Ratemaking to ERM
ERM envisions a holistic treatment of risk - both positive and negative - across an enterprise. Ratemaking and reserving are the traditional actuarial functions. How does the ratemaking silo relate to an insurer's enterprise-wide ERM process? How is ratemaking an ERM function? The panelists will address this and many more issues regarding ERM, risk and return analysis, and the ratemaking function.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
Russell Bingham, Curtis Parker
Town Hall Session: Logic, Fallacies, and Paradoxes in Risk and Return Analysis in Ratemaking: Town Hall Meeting
The session will be structured as a Socratic dialogue between the moderator, who will serve as host in the audience, the panelists, and the audience themselves.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
Louise Francis, Glenn Meyers, David Ruhm
Town Hall Session: Logic, Fallacies, and Paradoxes in Risk and Return Analysis in Ratemaking: Town Hall Meeting
The session will be structured as a Socratic dialogue between the moderator, who will serve as host in the audience, the panelists, and the audience themselves.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
Louise Francis, Glenn Meyers, David Ruhm
Town Hall Session: Logic, Fallacies, and Paradoxes in Risk and Return Analysis in Ratemaking: Town Hall Meeting
The session will be structured as a Socratic dialogue between the moderator, who will serve as host in the audience, the panelists, and the audience themselves.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
Louise Francis, Glenn Meyers, David Ruhm
Risk and Return Analysis
The session will be structured as a Socratic dialogue between the moderator, who will serve as host in the audience, the panelists, and the audience themselves.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
Louise Francis, Glenn Meyers, David Ruhm
Ratemaking and Economic Profit Loads
This session will expand beyond the "introduction to profit loads" in the introductory track which examined alternative methods used in various regulatory domains that actuaries are required to use in calculating the profit provision components of indicated premium. The panelists will discuss and compare discounted cash flow, internal rate of return, and accounting models as tools to consider "risk and return" with respect to the cost of capital, for the purposes of reflecting it in the profit and contingency load in ratemaking.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
Richard Derrig
Determination of Statistically Optimal Geographical Territory Boundaries
This session will discuss the application of spatial smoothing techniques to situations where the underlying claims experience in small geographic areas may not be fully credible.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
Duncan Anderson
Putting your Company on the Map: Determination of Statiscially Indicated Territory Boundaries
This session will discuss the application of spatial smoothing techniques to situations where the underlying claims experience in small geographic areas may not be fully credible.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
Duncan Anderson
Implementation of a Predictive Model
This session's panelist will share his company's experiences in developing and implementing this large project. Specifically, the time and resources that were required, data issues, blending modeling into the existing rate review process, systems issues, testing and moving to a full production environment for subsequent states.
Moderator:
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
Donald Closter
The Long Road to Personal Automobile Insurance Reform in New Jersey
Personal lines issues in New Jersey and the Gulf Coast are the subjects of this session. Panelists will discuss the New Jersey private passenger market, which has had significant reforms over the last several years.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
David Lalonde, Bernard Flynn
GLM: Practical Applications
This session will begin with an overview of common insurance applications. The presenters will then provide practical insights into data preparation/manipulation, challenges with factor selection and model interpretation, and issues surrounding implementation.
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
Claudine Modlin, Richard Smith
An Introduction to GLM Theory
The session will begin with an explanation on the formularization of GLMs-understanding the linear predictor, link function, offset term, error term, and the like. Building upon this foundation, the session will discuss typical model forms, the effect of different assumptions, model diagnostics and the use of interaction variables. (Practical applications of GLM theory will be covered in another panel session.)
Source:
2006 Ratemaking Seminar
Type:
concurrent
Moderators:
Sean Delvin
Panelists:
Serhat Guven