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Research Announcement

2009 Call for Ratemaking Discussion Papers

06/04/2007 — The Casualty Actuarial Society is again pleased to extend a call for discussion papers on ratemaking topics. This call is under our new two-year cycle and demonstrates our efforts to improve the process for submitting and reviewing papers, giving authors sufficient time to explore topics, and submit high-quality research.

Ratemaking is a major area of expertise for casualty actuaries; it is important that we foster and publish timely, relevant, and high-quality research. The Ratemaking Discussion Paper Program is offered to further these goals and to provide additional material for basic and continuing education purposes. Papers will be reviewed for acceptance based on:

  1. Originality of ideas
  2. Understandability of concepts
  3. Contribution to the ratemaking literature
  4. Thoroughness of ideas expressed
  5. Timeliness and relevance of research

Authors of accepted papers may be invited to present their work at the 2009 Ratemaking Seminar. In addition, the papers will be published in the CAS Forum and will be available on the CAS web site prior to the Seminar. A prize fund of $2,500 is available for the outstanding papers submitted in response to the call (with not more than $1,500 awarded to one paper). Both CAS members and non-members are invited to submit proposals for papers.

All papers on ratemaking topics are welcome, and papers should focus on the Considerations listed in the CAS Statement of Principles Regarding Property and Casualty Ratemaking. Suggested ratemaking topics based on current events and topics that deserve new or continued research are listed below.

  1. Expert Underwriting Systems:
    • Going beyond loss costs
    • Lifetime value of the customer
    • Customer elasticity
    • Regulatory considerations
  2. Catastrophe Ratemaking
    • Profit Margins in Catastrophe Ratemaking
    • Underwriting for Catastrophes
    • ASOP 38
    • Alternative Risk Transfer
    • Catastrophe Loadings by Class/Territory
  3. Scoring Models
    • Types of Models
    • Components of Scoring models
    • Regulatory considerations
  4. Enterprise Risk Management
    • Impacts on Ratemaking
    • Aggregation of Exposure
    • Concentration issues
  5. Specialty Products
    • Federal and State Insurance Programs – FDIC, Flood, Earthquake
    • Impact of coverage changes on pricing
    • Director’s & Officer’s, Fiduciary Liability, Errors and Omissions
    • Emerging products – GAP Insurance, Residual Value

Call Paper Timetable

Timely submission of the discussion papers is critical. The procedures and timetable enumerated below apply.

  • Deadline for Proposals
    By June 29, 2007, authors must submit proposals for their papers including the suggested title, a short description of the topic(s) to be addressed, the approach that will be taken, and a survey of existing actuarial literature on the subject (title and abstract of a maximum of the five most relevant papers). Authors should review the criteria for acceptance shown above, and the format of papers shown below. Proposals should be submitted electronically, including contact information, via e-mail to the Casualty Actuarial Society.

  • Acceptance of Proposals
    By August 1, 2007, the Committee on Ratemaking will decide which proposals are accepted. The Ratemaking Discussion Paper Chairperson will contact the authors regarding the decision.

  • Monitoring Progress
    A Call Paper Sub-Committee will be assigned to work with each author to monitor the paper's progress and to provide general guidance in completing the paper within the timeframes. The sub-committee Chairperson will monitor progress. Authors are encouraged to share drafts with the sub-committee as work progresses, and are required to submit interim drafts according to the following schedule:
    • By November 9, 2007, a completed draft of the paper will be submitted to the Chair of the assigned Sub-Committee for review.
    • By February 8, 2008, the Sub-Committee will forward review comments on the draft to the author(s).
    • By June 6, 2008, a second draft of the paper will be submitted to the Chair of the assigned Sub-Committee for review.
    • By August 1, 2008, the Sub-Committee will forward review comments on the second draft to the author(s).

  • Completion Date
    By October 1, 2008, the Committee on Ratemaking must receive the completed paper including a 200-word abstract. Each paper will be screened by the Committee to assure its quality of exposition, relevance to the call and to ratemaking research, and adherence to format requirements described below. The Committee reserves the right to not publish a submission.

  • Approving the Completed Paper
    By December 3, 2008, authors will be notified of the results of the screening process. Accepted papers will be published in the CAS Forum and will be available on the CAS Web Site prior to the 2009 Ratemaking Seminar.

  • Presenting the Paper
    Authors may be invited to present their papers at the March 2009 CAS Ratemaking Seminar. These authors will be contacted in advance of the meeting regarding their presentations.

  • Prize Competition
    All papers submitted and accepted in response to the call and meeting the minimum standards established by the Committee will be included in the prize competition. A prize fund of $2,500 is available for the best paper(s) submitted in response to the call (with not more than $1,500 awarded to one paper), and will be presented to the author(s) at the Ratemaking Seminar. An independent review committee that will judge the papers anonymously will select the best paper(s). If no paper is considered eligible, the award shall not be made. There is also no guarantee that the prize fund, set at a level to fund more than one prize, shall be exhausted.

Format of Papers

Papers must be no more than 10,000 words and should be prepared in accordance with the Research Paper Template, and the procedures in the Guide for Submission to CAS Forum. Key words in the abstract should be based on the CAS Research Taxonomy. Additional guidance for the preparation of technical papers for publication is provided in the Guides for the Submission of Papers in the 2007 CAS Yearbook (pages 121-126).

In addition to a hard copy of the paper, authors will be required to provide an electronic copy of the paper on diskette or by e-mail and will be asked to sign a "Permission to Publish" form allowing the CAS to publish the paper. Authors are encouraged to submit working templates in spreadsheet form for models or methods discussed or developed in their papers and/or PowerPoint presentations incorporating the details of the paper's calculations. The spreadsheets and presentations will be posted on the CAS Web Site along with the paper.

It is hoped that the authors will also submit their papers for publication in Variance in accordance with the procedures in the Yearbook. However, acceptance of a discussion paper for this call does not guarantee its acceptance for publication in Variance.

The Committee on Ratemaking looks forward to receiving proposals in response to the call, and is happy to respond to inquiries from interested parties. Questions may be addressed to the Committee on Ratemaking at the CAS Office via e-mail to office@casact.org.

Your participation in this effort will contribute to the written body of knowledge for the CAS and to the success of the 2009 Ratemaking Discussion Paper Program.

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