Casualty Actuarial Society

Research

2005 Data Management, Quality, and Technology Call for Papers

The Casualty Actuarial Society (CAS), in conjunction with the Insurance Data Management Association (IDMA), is extending a call for papers on Data Management, Data Quality, and Data Technology topics. The purpose of this program is to develop a source of literature on data topics important to casualty actuaries. Authors of accepted papers may be invited to present their work at the 2005 Ratemaking Seminar. In addition, the papers will be published in the CAS Forum and will be available online prior to the Seminar. A prize fund of $2,500 is available for papers submitted in response to this call. CAS members, IDMA members, and non-members are invited to submit proposals.

Data management and data quality topics of interest to casualty actuaries include, but are not limited to, the following broad concerns:

  • Using and developing information is one of the casualty actuary's principal activities. Data is the foundation from which this information is developed. The casualty actuary must have well developed and managed data resources and must be assured that these data resources are of sufficient quality. In advancing the profession's increasing role in non-traditional areas of practice and dynamic financial analysis, gathering new forms of information from external data sources has increased in importance.

  • Technological advances are improving data manipulation and its application to insurance marketing, insurance operations, and actuarial analyses. Examples of these technological advances include dynamic financial analysis and catastrophe modeling. Such advances provide casualty actuaries with an ever-evolving scope to their analyses. As the technology advances, so too must the collection and manipulation of the associated data. Also, technology is enabling insurers to recognize and price new exposures to loss, such as the losses arising in managed care errors and omissions, and e-commerce risks. As new and evolving loss exposures emerge, casualty actuaries must define appropriate models and collect additional data elements for use in analyzing the costs and trends of these exposures.

  • The casualty actuary's work involves quantifying risk that changes systematically due to structural changes in the insurance environment. Examples include law changes such as tort reform, operational changes, and social changes such as changes in claim litigiousness. To account for such structural changes, the casualty actuary must often adjust historical data.

  • Insurance data arises primarily from the transaction data collected in accounting systems. The National Association of Insurance Commissioners' project to codify statutory accounting principles may dictate changes in the amount and definition of data elements and may affect data used in actuarial analysis.

This is the fifth call for papers from the Committee on Management Data and Information concerning data issues. The first four calls produced notable papers on geographic information technologies, integration of data technologies to actuarial processes, statistical plans, data for dynamic financial analysis, Y2K, data quality, neural networks, zip code data, data for credit scoring, emerging data technologies, and intellectual property issues.

The following list includes papers from previous Data Management, Quality, and Technology Call Paper Programs:

  • "Insurance Geographics", William M. Raichle Ph.D.
  • "Geocoding: Description and Uses", Randall Brubaker FCAS, Robert Bylls
  • "Synchronizing Data Management Technologies to Integrate Actuarial Processes", Omar D. Kouatly, Mark W. Littman FCAS, Aleksey S. Popelyukhin Ph.D. (1997 Prize Winner)
  • "Statistical Plans for Property/Casualty Insurers", Virginia R. Prevosto FCAS
  • "P/C Actuaries: Happy with Your Data", Richard Marr
  • "Implications of Dynamic Financial Analysis on Demutualization", Jan Lommele FCAS, Kevin Bingham ACAS
  • "Y2K - A Regulatory Response", Jose Montemayor, Betty Patterson, Holmes Gwynn ACAS
  • "On the Hierarchy of Actuarial Objects: Data Processing from the Actuarial Point of View", Aleksey Popelyukhin Ph.D.
  • "Watch Your TPA; A Practical Introduction to Actuarial Data Quality Management", Aleksey Popelyukhin Ph.D.
  • "Using Neural Networks to Predict Claim Duration in the Presence of Right Censoring and Covariates", David Speights Ph.D., Joel B. Brodsky Ph.D., Darya L. Chudova M.S.
  • "Remittance Imaging at Allstate Insurance Company", Lindsay F. Taylor
  • "The United States Postal Service's New Role: Territorial Ratemaking", Geoffrey Werner FCAS
  • "Insurance Data and Intellectual Property Issues", Alan Wickman ACAS (1999 Prize Winner)
  • "A Macro Validation Dataset for U.S. Hurricane Models", Douglas J. Collins, FCAS and Stephen P. Lowe, FCAS (2001 Prize Winner)
  • "Neural Networks Demystified", Louise Francis, FCAS (2001 Prize Winner)
  • "Actuarial Applications of Multifractal Modeling Part I: Introduction and Spatial Applications", John A. Major, ASA and Yakov Lantsman, Ph.D.
  • "Part II: Time Series Applications", Yakov Lantsman, Ph.D. and John A. Major, ASA
  • "Let Me See: Visualizing Actuarial Information", Aleksey S. Popelyukhin, Ph.D.
  • "Martian Chronicles: Is MARS Better than Neural Networks? ", Louise A. Francis, FCAS, MAAA (2003 Prize Winner)
  • "Rainy Day: Actuarial Software and Disaster Recovery", Aleksey S. Popelyukhin, Ph.D
  • "Modeling Hidden Exposures in Claim Severity via the EM Algorithm", Grzegorz A. Rempala and Richard A. Derrig
  • "Where is My Market? How to Use Data to Find and Validate New Commercial Lines Market Niches", Lisa Sayegh, MBA, ARM
  • "Does Credit Score Really Explain Insurance Losses? Multivariate Analysis from a Data Mining Point of View", Cheng-Sheng Peter Wu, FCAS, MAAA, and James C. Guszcza, ACAS
  • "Applying Data Mining Techniques in Property/Casualty Insurance" , Lijia Guo, Ph.D., ASA
Suggested Topics
The Committee welcomes all papers on Data Management/Data Quality/Data Technology topics. Several suggested areas include, but are not limited to, the following:

  • Data administration including warehousing and design
  • Data quality
  • Data collection and reporting
  • Data mining and neural networks
  • Sources and uses of external data
  • Data for newly discovered/unique exposures
  • Other special topics

Call Paper Timetable
Timely submission of the discussion papers is critical to the success of the call. The procedures and timetable enumerated below will apply.

  1. Deadline for Proposals
    By April 23, 2004, authors should submit proposals including the title, a short description of the topic(s) to be addressed, and the approach that will be taken. Proposals, along with authors' contact information, should be submitted electronically via e-mail to the Casualty Actuarial Society at office@casact.org, Attn: Suzanne Black, FCAS, MAAA, Call Paper Chairperson.

  2. Acceptance of Proposals
    By May 14, 2004, the Committee will make a decision on all proposals. The number of accepted proposals might be limited, with preference given to papers that specifically address items listed above. The Committee will contact authors regarding their proposals.

  3. Monitoring Progress
    A Committee member will be assigned to work with each author to monitor the paper's progress and provide general guidance in completing the paper. Interim drafts, based on a schedule proposed by the author, may be requested.
    • By September 3, 2004, a first draft of the completed paper will be submitted to the assigned Committee member for review and comments.
    • By October 8, 2004, all comments on the first draft will have been forwarded to the author.

  4. Completion Date
    By November 5, 2004, the Committee on Management Data and Information must receive the completed paper and a 200-word abstract for their review. Each paper will be screened by the Committee to assure its quality of exposition and relevance to the call. The Committee may require further rewriting of the paper to bring it to an acceptable standard.

  5. Approving the Completed Paper
    By December 10, 2004, all authors will have been notified as to the results of this screening process. Accepted papers will be published in the CAS Forum and will be available online prior to the 2005 Ratemaking Seminar. Authors may be invited to present their papers at the Ratemaking Seminar, scheduled for March 10-11, 2005, in New Orleans, LA. These authors will be contacted in advance of the meeting regarding their presentations.

  6. 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 papers submitted in response to the call. An independent review committee will judge the papers anonymously and make recommendations for prizes. If awarded, prizes will be presented to the author(s) at the 2005 Ratemaking Seminar.

    The criteria for evaluation will reflect:

    • Originality of ideas;
    • Clarity of presentation;
    • Contribution to the literature; and,
    • Thoroughness of ideas expressed.

  7. Submission Guidelines
    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. Authors will be required to execute a "Permission to Publish" form, which formally grants the CAS permission 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 online along with the paper.

It is hoped that the authors will also submit their papers for publication in the Proceedings 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 the Proceedings.

The Committee on Management Data and Information 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 Management Data and Information via e-mail to office@casact.org.

Your participation in this effort to produce new papers will contribute to the written body of knowledge for the CAS and to the success of the 2005 Data Management/Data Quality/Data Technology Call Paper Program.

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