Strategic Analysis of Personal Lines
Topics will include:
- The most important elements of a rate indication study, including large-loss or catastrophe-smoothing techniques, expense loadings, loss projection including IBNR estimates, investment income estimates and loss trending
- Creating claim file extracts to support rate indications
- Studies and loss inflation measurements in personal auto and homeowners policies
- Identifying loss ratio patterns by original effective date and how to accurately measure “new business penalties” for personal auto and homeowners policies
- Creating a profit analysis study incorporating predictive modeling techniques and how to build policy databases to support your research and profit analysis
- Building rating systems that effectively blend several rating parameters correlated to function harmoniously in developing optimal premium levels
- The most effective use of claim-free discounts and violation surcharges
- The role of underwriting in a world of greater rate sophistication — determining when profit problems are best solved by underwriting change or by rating enhancements
- How to measure and monitor adverse selection stemming from management decisions or from the agency force
- How to build a feedback system to detect changes in the market
Schedule
Evening before course — 5:30 – 7:30 p.m. Optional Dinner
Day 1 — 8:00 a.m. – 3:30 p.m. Session