Addactis’ Presence at CAS RPM Seminar 2024

We are delighted to announce the presence of Addactis at The Casualty Actuarial Society (CAS) RPM Seminar 2024, a unique opportunity for insurance actuaries and consultants to earn continuing education credits while participating in a series of highly interactive sessions.

The seminar will take place at the Sheraton New Orleans Hotel from March 17 to 20, 2024.

Credibility-Weighted Territorial Rating 

Monday, March 18, 2024 – 3:30 PM till 4:30 PM CST
Duration : 60 minutes

Session description:

“Creating and implementing new rating territories is a multifaceted process that demands collaboration among pricing actuaries, underwriters, and decision-makers.
In the actuarial literature, various advanced methodologies exist to develop tailored geographical segmentations. However, translating the insurer’s strategy into the math and explaining the reasoning behind smoothing or clustering decisions are challenging tasks.
Credibility theory, with its simple interpretation, offers a bridge between parameters and concepts such as risk mutualization. Remarkably, there are clear connections between credibility parameters and the degree of smoothing, which, in turn, controls territorial cross-subsidies.
Some practical tools are valuable to ensure sound geographical pricing decisions: Disclosing credibility parameters, lift, Gini, or consistency measures are some tools that can be helpful both within and outside the organization.
In this session, Juan Ignacio de Oyarbide, Pricing Actuary and Business Development Representative at Addactis, will explain how these could be implemented in order to achieve more fair and transparent rating strategies.“

Learning Objectives:

1. Understand the concepts behind credibility-weighted smoothing.
2. Connect parameter outcomes to different degrees of risk mutualization.
3. Expand the actuarial toolkit to explain territorial ratemaking decisions

Speakers: 

• Juan Ignacio de Oyarbide, Business Development Representative and Pricing Actuary at Addactis
• Daniel Post, Chief Actuary at Mutual Capital Analytics

Moderator: 

• Klayton N. Southwood (Moderator), FCAS, Senior Director at WTW

Get your complimentary copy of the presentation from this session

Are you struggling to translate your insurance company’s goals into effective territorial ratemaking decisions? Do you need practical tools to explain and justify your rating decisions? Our comprehensive resource explores the intricacies of advanced methodologies as well as the links between risk mutualization and ratemaking. This will empower you to develop fairer and more transparent rating strategies.

Download our presentation >

Roundtable Description:

Juan Ignacio de Oyarbide will lead a roundtable on the feasibility of incorporating expected profit and expected conversion/retention in rating strategy design. The discussion will also explore the possibilities of promoting profit optimization practices with formal quantification and measurement of fair discrimination and mutualization.
Come join us!