Organised by the EAA - European Actuarial Academy GmbH in cooperation with the Hrvatsko Aktuarsko Drustvo.
Non-Life insurance is facing a lot of challenges ranging from fierce competition on the market or evolution in the distribution channel used by the consumers to evolution of the regulatory environment (Solvency II, IFRS,…).
Pricing is the central link between solvency, profitability and market shares (volume). Improving pricing practice encompasses several dimensions:
- Technical: is our pricing adequate to cover the underlying cost of risk of my policyholders and the other costs we are facing? Which are the key variables driving the risk? Are they adequately taken into account in our pricing?
- Competition: at what price will we attract the segments that we target and price out those that we don’t want? Is the positioning of our competitors influencing our pricing practice?
- Elasticity: what (new) price are our existing customers prepared to accept?
- Segmentation: is our segmentation granular enough for our purposes?
The aim of this seminar is to present the actuarial/statistical techniques used in non-life pricing.