Price Walking & Demand Modelling Webinar
In recent years, great progress has been made in predictive modeling theory and practice. This leads in particular to stronger risk models in pricing, but related issues such as demand modeling are also attracting more and more attention.
First and foremost from the regulatory side: so-called price walking, which is characterized by the targeted setting of different prices for new and existing customers to exploit different price elasticities, has been banned by the British FCA and is under consultation with EIOPA.
Hence we will look at demand and price elasticity from an actuarial perspective. In doing so, we will distinguish between different modeling approaches, solve extrapolation problems and fundamentally think about inference from observed data to derive price elasticity. Precisely because this price elasticity is a second-order effect, which cannot be assessed without the offered premium and the demand level at a flat renewal price (which must also be estimated), risk modeling concepts have to be adapted to appropriately model demand.
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Learn more about the speakers
Alessandro is a Senior P&C Manager at Milliman Italy and CEE. He has more than 10 years of experience on pricing and ratemaking helping insurance companies (in Italy and abroad) to improve their pricing sophistication and offerings. Alessandro is a fully qualified actuary (ISOA)
Jan Küthe is an Actuary (DAV) from Germany and works at Akur8 as an Actuarial Data Scientist to help insurance companies unlock the potentials of the twenty-first century. Before that he has been working as an Actuarial Consultant for three years. He holds a Masters degree in Mathematics from the University of Bonn and is an avid reader of the books of Anna Seghers and Dietmar Dath.
