Presentation
Credibility-Weighted
Territorial Rating
Territorial Ratemaking: A comprehensive guide for the implementation of new strategies
Are you struggling to translate your insurance company's goals into effective territorial ratemaking decisions? Do you account for practical tools to explain and justify your rating decisions?
Insurance professionals and actuaries like you are face a dynamic landscape: evolving regulations, fierce competition, and the need to personalize offerings.
It's time to move beyond traditional pricing methods and build smarter analytical solutions.
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.
To have access to our presentation, please fill in the form>>
Sign up to get our presentation
A Deep Dive into Credibility-Weighted Smoothing and Risk Mutualization
Creating and implementing new rating territories is a multifaceted process that demands collaboration among pricing actuaries, underwriters, and decision-makers.
This presentation delves into the complexities of this process and present advanced methodologies for developing tailored geographical segmentations. He will explore the application of credibility theory as a bridge between parameters and concepts such as risk mutualization.
Here's what you'll discover:
- Interpreting the Complex: Understand the nuances of creating and implementing new rating territories, navigating the challenges of balancing diverse stakeholder perspectives.
- Bridging the Gap: Learn how credibility theory acts as a bridge between mathematical parameters and key concepts like risk mutualization, offering a clear and interpretable lens.
- Practical Tools & Insights: Dive into valuable tools like credibility parameters, lift, Gini, and consistency measures, gaining the arsenal to explain and justify your decisions both internally and externally.
- Enhanced Capabilities: Upon completion, you'll be adept at understanding credibility-weighted smoothing, connecting parameter outcomes to risk mutualization, and wielding a wider range of actuarial tools for informed territorial ratemaking.
Do not miss the opportunity to:
Elevate your expertise
Gain a deeper understanding of advanced territorial ratemaking methodologies.
Boost transparency and fairness
Make data-driven decisions that ensure fairness for all policyholders.
Improve communication
Explain your rating strategies with clarity and confidence, both within your organization and externally
Download your free copy of "Credibility-weighted Territorial Rating" today and unlock insights that will enable you to make optimal pricing decisions!
A content written by:
Juan Ignacio de OYARBIDE
Actuary, Business Development Representative at Addactis
Juan Ignacio de Oyarbide is a certified actuary affiliated with the Portuguese Institute of Actuaries (IAP), holding an Actuarial Science MSc with specialization in Bayesian modeling. Currently, he leads the ratemaking software practice at Addactis Worldwide. Over the past 5 years, he has played a pivotal role in various software implementations, addressing diverse aspects such as data transformation, risk and behavioral modeling, profit optimization, and rating strategy deployment. Presently, he is actively promoting a comprehensive profitability management mindset within insurance companies. He has recently participated in global conferences and contributed to recognized actuarial magazines.
addactis® Pricing Solution
addactis®, the Risktech for Insurance, combines the knowledge and expertise of the insurance sector with a high level of analytics embedded in our software to transform risk and complexity into opportunities to improve insurance operations.
Our range of solutions covers Risk & Solvency assessment, Data Analytics, Reserving, Data Management, Tasks Automation, Business Intelligence, Reporting...
Our addactis® Pricing solution helps you integarte your clients' behavior in you rpricing strategy and helps you create demand and retention models, using GLM and machine learning within the same tool. Make your marketing strategy more effective while adopting a customer-centric approach.
Do you need a strong partner to help you rethink your pricing processes? Addactis provides you a solution with close support and training. We will help you to be compliant with the new technical standards from regulators. We will optimize your pricing processes and simplify your workflow. And we will support you to increase your profitability, being one-step ahead of your competitors, as you are in a highly competitive market.