Ratemaking

Press Releases & News

• Registration Opens for the Interactive Live Stream Event: 2018 RPM Seminar( 11/14/2017)
• Call for Presentations: 2018 Ratemaking, Product and Modeling Seminar and Workshops( 7/07/2017)
• Limited Time Offer: 2017 Underwriting Collaboration Seminar and Ratemaking and Product Management Seminar Recordings Bundle( 5/17/2017)
• 3-D Printing, Smart Homes, Autonomous Vehicles: Read Recaps of “Hot Topic” RPM Sessions( 4/12/2017)
• Call for Presentations for Singapore Actuarial Society's General Insurance Conference( 3/16/2017)

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Events

There are currently no events. You may view other events in the calendar.

Full CAS Calendar

Committees

• Committee on Ratemaking
  • The Committee on Ratemaking addresses actuarial issues of property and casualty insurance ratemaking including risk classification. The committee's charge includes furthering the development and dissemination of ratemaking theory and principles; identifying topics for research and discussion; monitoring professional developments and regulatory activities; and sponsoring panels, seminars, and other public forums on ratemaking issues.
  • Interested in volunteering? Please contact Karen Sonnet vis email at ksonnet@casact.org.
• Ratemaking, Product and Modeling Seminar Planning Committee
  • The Ratemaking and Product Management Seminar Planning Committee is responsible for developing a program for the annual Ratemaking and Product Management Seminar.

Resources

• Instructions and guidance
• Filing Requirement
• NAIC Product Filing Review Handbook
• NCCI Filing Guide for Rates and Forms
• Capital Requirement
• NAIC Risk–Based Capital (RBC) Requirement
• Availability and Affordability
• AAA Automobile Insurance Committee's Comments to the Federal Insurance Organization (FIO) Regarding Availability and Affordability of Auto Insurance
• Insurance Research Council on Auto Insurance Affordability
• NAIC on the State Survey Related to the Availability and Affordability of Automobile Insurance
• Pricing Data
• Database of Industry Data Sources

Standards and Principles

• ASOPs – Pricing related key ASOPs:
• ASOP 13 – Trending Procedures in Property/Casualty Insurance
• ASOP 23 – Data Quality
• ASOP 25 – Credibility Procedures
• ASOP 29 – Expense Provisions in Property/Casualty Insurance Ratemaking
• ASOP 30 – Treatment of Profit and Contingency Provisions and the Cost of Capital in Property/Casualty Insurance Ratemaking
• ASOP 38 – Using Models Outside The Actuary's Area of Expertise (Property and Casualty)
• ASOP 39 – Treatment of Catastrophe Losses in Property Casualty Insurance Ratemaking
• ASOP 41 – Actuarial Communications
• All ASOPs
• Principles
• Property and Casualty Insurance Ratemaking Statement of Principles
• All Principles
• Other
• Code of Professional Conduct
• Comments Submitted on the Discussion Draft of Statement of Principles Regarding Property and Casualty Insurance Ratemaking

Research Articles, Newsletters, Presentations

Research Articles

1. The Average Maturity of Loss Approximation of Loss Development
   This paper will present a formula for generalizing the average date of loss approximation (ADOL) so it operates reasonably at immature ages, ages where the usual ADOL approximation breaks down. The formula adjusts the evaluation date on the …
2. Ratemaking for a New Territory: Enhancing GLM Pricing Model with a Bayesian Analysis
   MotivationThis paper offers a Bayesian approach in ratemaking for a new territory where a company considers starting a new business, or for a relatively new territory where the company has very limited claims experience. MethodA Bayesian Poisson …
3. Enhancing the Generalized Linear Modeling Approach with Machine Learning Technique
   With the development of the machine learning (ML) technique and broad successful application, machine learning is becoming more and more popular for data analytics in many industries. Insurance is no exception, and machine learning techniques are …
4. Practical LDF Interpolation for Well-Behaved IBNR
   Actuaries have devised numerous methods for interpolating annual evaluation loss development factors (LDF) to arrive at quarterly evaluation factors. Not all of these work as well as might be hoped. Some introduce oscillations not found in the …
5. A Comprehensive, Non-Aggregated, Stochastic Approach to Loss Development
   In this paper, we present a stochastic loss development approach that models all the core components of the claims process separately. The benefits of doing so are discussed, including the provision of more accurate results by increasing the data …

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