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Actuarial Predictive Analytics Modeling - PowerPoint PPT Presentation

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Actuarial Predictive Analytics Modeling

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Predictive Modeling for Actuaries

By Claude Penland, Associate of the

Casualty Actuarial Society

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Our plan

  • This presentation will provide eight examples of strong industry presentations and articles where actuaries can apply predictive modeling to life insurance, property and casualty insurance and health insurance data.

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Example 1

  • At the Society of Actuaries’ Annual Meeting, a Fellow of the Society of Actuaries discussed Predictive Modeling in Life Insurance.

  • Topics included generalized linear modeling, mortality analysis, policyholder behavior and stochastic modeling.

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Example 2

  • At the Actuaries’ Club of Boston and Hartford/Springfield Joint Meeting, a Chartered Financial Analyst / Fellow of the Society of Actuaries applied Predictive Modeling to Variable Annuity Lapse Rates.

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Example 3

  • Two Fellows of the Casualty Actuarial Society presented to the SoCal Actuarial Club on Predictive Modeling for Property-Casualty Insurance.

  • This is a substantial presentation on predictive modeling strategies, methodologies and techniques.

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Example 4

  • Consultants at Towers Watson have written Multiple Dimensions of Pricing Sophistication, which describes five dimensions of property and casualty insurance rating sophistication.

  • These are pricing strategy, competitive sensing, rating plan design, modeling approach and data.

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Example 5

  • PointRight employees recently wrote on Building and Maintaining a Profitable Captive Insurer with Predictive Modeling.

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Example 6

  • At the Casualty Actuarial Society’s Ratemaking Seminar, a consulting actuary presented on Data Preparation for Predictive Modeling, and described data requirements, types of data variables and various data quality issues.

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Example 7

  • For the health actuary, More Predictive Modeling of Total Healthcare Costs Using Pharmacy Claims Data: Adherence Dimension and Boosted Regression covers pharmaceutical claims predictive methods.

  • It was presented at the American Society of Health Economists Conference.

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Example 8

  • In Building a Predictive Model: An Example of a Product Recommendation Engine, Intelligent Mining describes a predictive analytics algorithm that could be applied to building an insurance product recommendation engine.

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Wrap Up

  • Visit for the latest news and trends in predictive analytics and modeling

  • Thank you!