Casualty Actuarial Society

Limited Attendance Seminar - 2017

P&C Insurance Industry Data Limited Attendance Seminar

October 12-13, 2017

Association of the United States Army Conference and Event Center–Main Conference Room
2425 Wilson Blvd
Arlington, VA

When registering for this event online, please select your reg type to see the event fees available.

Register

If you prefer to pay by check, please download a printable registration form.

Data and information are key to the actuary’s day to day work. Internal data from the insurance company or the client itself is only one source of data and information. Other sources are often a major component of state-of-the art actuarial analysis made in the P&C actuarial field.

The purpose of the seminar is to provide the participant with an overview of the various sources of data that can be used to supplement the insurance company's internal data or the client's own data to enhance analyses, and will cover several important considerations around the use of external data. 

The participant should be able to appropriately use the data sources presented quickly after the seminar. This seminar could also allow for representatives from various industry sources to describe the products/information that is available (examples: ISO, NCCI, AM Best, SNL...). Types of industry data may include the following: loss development factors, increased limit factors, WC benefit level adjustments, annual statement/schedule P elements, loss rates/loss costs, severity/frequency trends, expenses, consumer behavior, other industries useful and comparable data as market concentration, price elasticity of demand, and so on.

At the end of the seminar, participants should have gained a general knowledge of available P&C Insurance Industry external data, and have practiced using it in an applied case study.

Target Audience

This course is targeted toward an actuarial analyst, business analyst or an actuary with 0-5 years of experience in the insurance industry. Some basic knowledge of Microsoft Excel, R and SAS is desirable.

Participants should bring a laptop with Excel and R installed. Files for practical exercises and instructions for downloading and installing R will be provided prior to the seminar.

INSTRUCTORS

The following individuals have all spoken about data management and related topics, such as model validation, at insurance industry and CAS events.

Tracy Spadola is Vice President, Strategic Data Operations at ISO Solutions. She has over 30 years experience in data management and business and analytics consulting. She earned a Master's Degree in Organizational Leadership from Quinnipiac University. She holds the Chartered Property Casualty Underwriter (CPCU) and Certified Insurance Data Manager designations. She is a Fellow of the Insurance Data Management Association, and is a past President and Chair of the Board of Directors. She is currently the association's Vice President of Business Development.

Hernan L. Medina is Senior Principal Data Scientist, Insurance Analytics, at ISO Solutions. He has roughly 29 years of property and casualty personal lines experience almost evenly split between data management, actuarial pricing analysis, and predictive modeling. Hernan earned a master’s degree in mathematics from New York University; he is a SAS® Certified Base Programmer and SAS® Certified Statistical Business Analyst. He is also a Chartered Property Casualty Underwriter (CPCU), Certified Specialist in Predictive Analytics (CSPA) and he holds The Institutes AIM, API, AU, and ARC designations.

Objective

This course will introduce the participant to data sources useful in property and casualty insurance actuarial and predictive modeling projects. We will provide an overview of data sources available from government agencies, as well as describe data compilations and online data services available from private vendors.

The course will also discuss how these data sources may be used in different types of analysis, as well as considerations the user should keep in mind in terms of any necessary adjustments, disclosure, and applicability of the data to a particular project.

Participants will perform several practical exercises that will involve extracting and using data from different government agencies and using these data with insurance data for actuarial analysis or predictive modeling.

Learning Objectives:

  • To acquire a general knowledge of data sources available from industry organizations and government agencies.
  • To get a deeper understanding of statistical and financial data sources commonly used in ratemaking.
  • To develop and awareness of challenges that might be encountered or considerations to keep in mind when using external data sources.
  • To understand the need for data resource information such as data descriptions, data dictionaries and metadata.
  • To obtain a general understanding of different data formats.
  • To perform hands-on exercises in which participants will use specific data sources to complement a company's internal data.

Schedule

Day 1, morning (8:00 am to 12:00 pm): property and casualty (P&C) insurance statistical data sources

  • Rating Organizations / Statistical Agents, e.g., ISO Solutions, PCI, NCCI, AAIS
  • Fast Track data
  • Using industry trend data as a complement for company trend data, or when company data is unavailable
  • Using industry loss development data as a complement for company loss development data, or when company data is not available
  • Using industry increased limit factors as a complement for company increased limit factors, or when company factors are not available
  • Data resource information related to industry data sources above
  • Challenges or things to consider when using data sources above

Day 1, afternoon (1:00 pm to 5:00 pm): P&C insurance financial data and other data sources

  • Financial data and analyses available from private vendors: AM Best, SNL, ISO Solutions, PCI, MSB, Xactware
  • Industry operating results
  • Industry expense and tax analyses
  • Cost indices commonly used in insurance
  • Alternative trend forecasts: econometric models for exposure trend and generalized linear models for loss trend
  • Schedule P loss development data
  • Insurance Institute for Highway Safety (IIHS) and the Highway Loss Data Institute (HLDI)
  • Automobile telematics data and home monitoring systems

Day 2, morning (8:30 am to 12:00 pm): other data available from private vendors and government agencies

  • Acxiom
  • Nielsen
  • CoreLogic
  • LexisNexis
  • The National Oceanic and Atmospheric Administration (NOAA) — North
  • American Regional Reanalysis
  • U.S. Government's Open Data www.data.gov
  • Overview of data formats
    • Structured, semi-structured and unstructured data
    • XML
    • JSON
    • NetCDF
  • Joining insurance data with other data sources

REGISTRATION FEES

When registering for this event online, please select your reg type to see the event fees available.

Register

If you prefer to pay by check, please download a printable registration form.

Registration Fees (in U.S. Dollars) Received on/by September 22, 2017 Received after September 22, 2017
CAS Member, or Active Candidate* $925 $1,125
Non-Members $1,125 $1,325

* An Active Candidate is a non-CAS member who has attempted at least one actuarial exam in the last two years.

Cancellation Policy

The registration fee will be refunded for a cancellation received on or before October 3, 2017, less a $100 administrative fee. Only written cancellations will be honored. Cancellation requests can be faxed to (703) 276-3108 or e-mailed to refund@casact.org

Continuing Education Credit

The CAS Continuing Education Policy applies to all ACAS and FCAS members who provide actuarial services. Actuarial services are defined in the CAS Code of Professional Conduct as “professional services provided to a Principal by an individual acting in the capacity of an actuary. Such services include the rendering of advice, recommendations, findings, or opinions based upon actuarial considerations.”

Members who are or could be subject to the continuing education requirements of a national actuarial organization can meet the requirements of the CAS Continuing Education Policy by satisfying the continuing education requirements established by a national actuarial organization recognized by the Policy.

Participants should claim credit commensurate with the extent of their participation in the activity. CAS members earn 1 CE Credit per 50 minutes of educational session time not to include breaks or meals.

Note: The amount of CE credit that can be earned for participating in this activity must be assessed by the individual attendee. It also may be different for individuals who are subject to the requirements of organizations other than the American Academy of Actuaries.

CONTACT INFORMATION

  • For more information on content, please contact Jody Allen, Professional Education and Research Coordinator, at jallen@casact.org.
  • For more information on attendee registration, please email the Actuaries' Resource Center at arc@casact.org.
  • For more information on the Seminar other than registration or content issues, please email meetings@casact.org.
  • For more information on other CAS opportunities or regarding administrative policies such as complaints and refunds, please contact the CAS Office at (703) 276-3100 or office@casact.org.

HOTELS

Residence Inn by Marriott Arlington Courthouse
Address: 1401 N Adams St, Arlington, VA 22201
Phone: (703) 312-2100

Hilton Garden Inn Arlington/Courthouse Plaza â€ƒ
Address: 1333 N Courthouse Rd, Arlington, VA 22201
Phone: (703) 528-4444

Clarion Collection Hotel Arlington Court Suites â€ƒ
Address: 1200 N Courthouse Rd, Arlington, VA 22201
(703) 524-4000

The Westin Arlington Gateway
Address: 801 N Glebe Rd, Arlington, VA 22203
Phone: (703) 717-6200

Hilton Arlington
Address: 950 N Stafford St, Arlington, VA 22203
Phone: (703) 528-6000

Holiday Inn Arlington At Ballston
Address: 4610 N. Fairfax Dr, Arlington, VA 22203
Phone: (703) 243-9800

Comfort Inn Ballston
Address: 1211 N Glebe Rd, Arlington, VA 22201
Phone: (703) 247-3399

Residence Inn by Marriott Arlington Ballston
Address: 650 N Quincy St, Arlington, VA 22203
Phone: (703) 310-1999

 

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