2026 Ratemaking Research RFP Seeks Proposals on Customer Lifetime Value Pricing

The Casualty Actuarial Society (CAS) invites researchers from inside and outside the insurance industry, with expertise in customer segmentation, to prepare a proposal for a property-casualty insurance research project that explores utilizing customer lifetime value in insurance pricing. 

Up to $75,000 in funding is available for this project, which will be presented as a peer-reviewed research paper. 

Proposals will be due Monday, March 30, 2026. 

Research Problem Description 

Companies like Amazon and Target seem to know your next purchase before you even do! Responding to customers’ current needs and anticipating future needs are critical to their success.

Pricing actuaries typically use historical data to project the profitability of a risk or group of risks for that product using a single-year time horizon. Business expansion, shopping behaviors, and driving habits are a few examples of significant events that go into a customer’s profile and may change from one policy term to the next. Insurance companies could supplement historical policy data with information about customer lifetime value to better project future changes in the current product and/or other products to enhance ratemaking.

The research team should qualitatively and quantitively assess how the insurance industry can utilize the power of customer lifetime value to improve pricing and ratemaking. Any proposed solutions should consider the insurance regulatory framework, whether domestic or global. The identification and infrastructure of customer data are preferred but not required. 

Proposal Requirements 

The CAS is asking researchers and/or practitioners to substantively broaden the available material on the topic of customer lifetime value pricing. Outside insurance interests can be partnered with experienced actuaries. Ideally, solutions will be applicable to both personal and business owners’ insurance. 

The research should address the following: 

• Outline various considerations related to customers’ changing insurance needs and characteristics 

• Explore different methods to price for these needs 

• Qualitatively and quantitatively justify proposed method(s) 

• Discuss other insurance domains of practice (e.g., underwriting, marketing) where considering customer lifetime value could be valuable and/or implemented

Code or sample worksheets should provide easy-to-follow open-source calculations that enable auditing and assumption adjustment. Material assumptions, limitations, and uncertainties should be communicated clearly and quantified where appropriate. 

In addition to producing a research paper for CAS publication, the selected researchers must also deliver an executive summary of the paper (two to three pages) suitable as a blog post or magazine article. This summary should highlight the key takeaways from the paper and be understandable by a non-technical audience. 

Submitting Proposals 

Proposals should include: 

• A clear outline of the workplan and timeline. 

• Researchers’ resumes detailing qualifications. 

• Cost estimates (not exceeding $75,000) (Note: A portion of the funding should be used to cover usual and customary travel expenses to present the paper at a CAS-sponsored seminar or meeting if such a presentation is anticipated.) 

A CAS contract will be awarded to the respondent who, in the judgment of the Ratemaking Working Group, is best able to perform the work as specified. If the group determines that no proposal meets the requirements of the RFP, no contract will be awarded. 

Interested parties are welcome to submit questions about the RFP before the proposal deadline. 

Email proposals to Elizabeth Smith, CAS Director of Publications and Research, at esmith@casact.org and Heather Davis, CAS Research Manager, at hdavis@casact.org by Monday, March 30, 2026. 

Proposal authors should write “Customer Lifetime Value Pricing Proposal” in the email subject line. Receipt of proposals will be acknowledged in a timely manner. 

Compensation 

Compensation will be commensurate with the time required. Respondents should include a cost estimate, which should not exceed $75,000. The estimate should include costs related to presenting the work at conferences and events.

Authors must report use of artificial intelligence, if any, while producing research. Authors will be required to upload their final paper electronically in the CAS’s ScholarOne system and to add any code to the CAS GitHub. 

Presentation, Ownership and Publication of Report 

As a condition of selection, the CAS requires that all rights, title, and interests to the report--including copyright and patent rights--be owned by the CAS. The selected researcher/research team must sign a formal research agreement that assigns all such rights to the CAS. In any publication of the report, the researcher(s) will receive appropriate authorship credit. 

The CAS may publish the report in its entirety or in part, in any format and medium as it finds fit, including CAS publications, electronic versions on its website or physical storage media. To encourage research adoption, the CAS requires the final work product’s code and data be placed in the CAS’s GitHub repository, https://github.com/casact, under the MPL2.0 license. 

The researcher(s) should make every effort to be available to present the report at a CAS meeting or seminar. 

Timeline

• Monday, February 16, 2026 — RFP Announcement 

• Monday, March 30, 2026 — Proposals Due 

• Monday, May 11, 2026 — Selection 

• TBD — Initial Meeting with Project Oversight Group (POG) 

• TBD — Follow-up Meetings with POG 

• Monday, August 31, 2026 — Completed Project Deadline 

About the Casualty Actuarial Society (CAS) 

The CAS was organized in 1914 as a professional society for the promotion of actuarial and statistical science as applied to insurance other than life insurance, such as automobile, liability other than automobile, workers compensation, fire, homeowners, commercial multiple peril, and others. Such promotion is accomplished by communication with those affected by insurance, presentation and discussion of papers, attendance at seminars and workshops, collection of a library, research, and other means. The membership of the CAS includes over 11,000 actuaries worldwide, employed by insurance companies, industry advisory organizations, national brokers, accounting firms, educational institutions, state insurance departments, the federal government, and independent consultants. 

Ratemaking Working Group 

The Ratemaking Working Group addresses actuarial issues of property and casualty insurance ratemaking including risk classification. The working group’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.