Casualty Actuarial Society

Ratemaking and Product Management (RPM) Seminar - Workshops

Ratemaking and Product Management (RPM) Seminar
March 11–13, 2013

Hyatt Regency Huntington Beach Resort & Spa
Huntington Beach, Ca


CA Coastline

The 2013 RPM seminar will feature four outstanding workshops facilitated by excellent presenters working within the Ratemaking and Product Management fields. The full day of workshops, taking place before the regular program, will give attendees a more in–depth, focused, and interactive learning experience.

On Monday March 11th, Workshops 1, 2, 3 and 4 will be offered from 9:00a.m. – 5:00p.m., with sufficient time allotted for networking. Workshop registration fees include a continental breakfast, luncheon, and a refreshment break on Monday.

Workshop 1 – Severe Weather Workshop

Workshop is now full.

A Laptop is required for this workshop.

Severe Weather (hurricanes and tornado/hail events) are a fixture in the news and a challenge for organizations that must manage this risk. Hurricane Sandy may be the fifth costliest hurricane on record, while 2011 broke records for tornado activity. This full-day workshop will be filled with current, cutting-edge topics related to severe weather ratemaking, with a small group and interactive format. Anticipated topics include: Climate Change, Catastrophe Modeling, Blending models and Historical Data, Blending Results of Multiple Models, Risk Loads for Severe Weather and Location Ratemaking. Many of the industry's thought leaders will facilitate the workshop, including representatives of Modeling Firms, Consulting Firms, Reinsurance Brokers and Insurance Companies. Basic knowledge of ratemaking and uses of catastrophe models will be assumed.

Workshop 2 – Predictive Modeling Workshop

Workshop is now full.

A Laptop is required for this workshop.

This hands-on predictive modeling workshop is designed and paced at a level appropriate to beginning predictive modelers. The workshop will be conducted using the open-source R statistical computing environment, widely recognized as the global lingua franca of applied statistics and data science. The workshop will be highly interactive in nature. The emphasis will be on practical application, with theoretical discussions appropriately interspersed to facilitate understanding of techniques and interpretation of results. Topics covered will include graphical Exploratory Data Analysis, Generalized Linear Models [GLM], model interpretation, and model validation. Specific GLM model forms to be illustrated will include classical regression as well as Poisson, logistic, Gamma, and Tweedie regression. Other topics, such as Classification and Regression Trees and Multilevel/Hierarchical models, will be discussed and illustrated as time permits. The workshop will be structured to cover an increasingly complex set of practical case studies, with ample time reserved for a personal auto predictive modeling exercise. All datasets used during the workshop will be documented and distributed to attendees prior to the seminar.

NOTE: This workshop will presume some working knowledge of R or R Studio. An "introduction to R" package will be distributed to participants in advance of the seminar, containing step-by-step instructions on how to install R and perform elementary calculations in R. While R beginners are encouraged to attend, they should be willing to do sufficient pre-work to come prepared for the workshop. While the seminar is designed for beginning predictive modelers, more experienced modelers seeking a refresher or deeper working knowledge of R have attended past workshops and expressed satisfaction with the coverage of topics.

Workshop 3 – Product Development Workshop

This workshop will explore the different stages of product development with hands on exercises for the attendee. Industry leaders will serve as facilitators to review historical processes and to help guide the attendees throughout the day. Attendees will work in teams to develop fictitious products that will be discussed and integrated into the facilitator's lesson plans.

Workshop 4 – Introduction to R

A Laptop is required for this workshop.

This workshop will focus on the practical issues involved in using R in typical types of actuarial analysis and beyond. In addition to mastering the fundamentals of R, attendees will practice working with various packages related to common actuarial work, reading and exporting data to and from R, building predictive models, as well as using R for loss development.

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