Price Elasticity Modeling - Considerations on Theoretical Aspects

Register to this webinar hosted by the ILAA - Israel Association of Actuaries.

In recent years, predictive modeling has made significant strides, enhancing risk models in pricing and drawing increased attention to areas like demand modeling.

This webinar will explore demand and price elasticity from an actuarial perspective, examining different modeling approaches and addressing challenges like extrapolation.

We will discuss how to interpret observed data to derive accurate price elasticity, and we will highlight how second-order effects linked to premium offerings and demand at flat renewal rates necessitate adjustments to traditional risk models.