The Art of the Rating Plan
Constructing effective rating plans is a nuanced process, encompassing considerations ranging from model integration, regulatory filings, to systems programming. This presentation aims to shed light on these vital aspects, while also venturing into less conventional concepts like overlays and separate rating for new business versus renewal business and other exotic ideas. Our discussion aims to offer comprehensive insights into the creation of successful rating plans, illuminating the intricacies of this critical process in the world of insurance and outlining the most desirable properties of a good rating plan.
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The Art of the Rating Plan
Constructing effective rating plans is a nuanced process, encompassing considerations ranging from model integration, regulatory filings, to systems programming. This presentation aims to shed light on these vital aspects, while also venturing into less conventional concepts like overlays and separate rating for new business versus renewal business and other exotic ideas. Our discussion aims to offer comprehensive insights into the creation of successful rating plans, illuminating the intricacies of this critical process in the world of insurance and outlining the most desirable properties of a good rating plan.
Learn more about the speakers
Max Martinelli
Max Martinelli is a Lead Actuarial Data Scientist at Akur8, where he spearheads machine learning initiatives for P&C pricing for the North American market. With a background in predictive modeling, actuarial analytics, and computational mathematics, Max brings both technical depth and practical expertise to his clients. A dedicated collaborator with the Casualty Actuarial Society, he has played a key role in advancing AI initiatives—co-authoring and leading the CAS AI Fast Track Bootcamp and co-hosting Almost Nowhere, the CAS Institute’s new podcast exploring AI and Data Science in insurance.
Thomas Holmes
Tom Holmes is Akur8’s Chief Actuary for the US region and is a co-author of the upcoming publication Penalized Regression and Lasso Credibility. He has experience modeling personal and commercial insurance, and volunteers with the CAS on predictive modeling topics. He is a frequent presenter at CAS events and Akur8 webinars, and performs industry outreach to share actuarial modeling methodologies and best practices. Tom is a Fellow of the CAS and holds music degrees from the University of Michigan and Ohio University.
