CAS Presents an Overview on Price Optimization
Wayne Fisher, the CAS’s immediate past president, and Morgan Bugbee, Chair of the CAS Price Optimization Working Party, presented an overview on price optimization to the Casualty Actuarial and Statistical (C) Task Force (CASTF) at the Fall NAIC Meeting on November 16, 2014. The paper and slides that were presented to the CASTF are now available for download. The CAS Price Optimization Working Party is continuing to discuss current ratemaking and pricing practices and consider the implications of price optimization techniques, in conjunction with the CAS Committee on Ratemaking and the American Academy of Actuaries Casualty Practice Council subcommittee on price optimization.
At the same CASTF meeting, Mike Angelina, the American Academy of Actuaries immediate past vice-president for casualty, made a presentation on the public policy implications raised by the practice of price optimization for property-casualty insurance in light of US laws and regulations.