Casualty Actuarial Society - Akur8 Webinar: The Art of Rating Plans: Strategies & Exotic Ideas
Constructing effective rating plans is a nuanced process, encompassing considerations ranging from model integration, regulatory filings, to systems programming. This presentation aims to shed light on these vital aspects, while also venturing into less conventional concepts like overlays and separate rating for new business versus renewal business and other exotic ideas. Our discussion aims to offer comprehensive insights into the creation of successful rating plans, illuminating the intricacies of this critical process in the world of insurance and outlining the most desirable properties of a good rating plan.
Learning Objectives:
- Analyze key considerations like model integration and regulatory filings in rating plan development.
- Evaluate unconventional concepts such as overlays and separate ratings for new versus renewal business.
- Synthesize insights into coherent strategies for developing or enhancing rating plans in insurance domains.
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Learn more about the speakers
Max Martinelli joined Akur8 as an Actuarial Data Scientist in 2023. He works with clients to ensure they get the most out of Akur8's transparent machine learning software. This ranges from actuarial modeling advice to collaborating on how an insurer can get the most out of their data. Before this, Max worked in various actuarial and data science roles at Allstate for nearly 8 years. He has worked on auto, property and specialty lines with a broad scope of projects. These ranged from traditional actuarial indications to price optimization to cutting-edge high-fidelity telematics models. His work spanned from production grade models to rapid research models to further Allstate's pricing sophistication with extensive use of GLMs, GLMnets, GBMs and Bayesian GLMs.
Jan Küthe is an Actuary (DAV) from Germany and works at Akur8 as an Actuarial Data Scientist to help insurance companies unlock the potentials of the twenty-first century. Before that he has been working as an Actuarial Consultant for three years. He holds a Masters degree in Mathematics from the University of Bonn and is an avid reader of the books of Anna Seghers and Dietmar Dath.
