Category Archives: Motor

Fraud Detection: How can Machine Learning Help?

An insurance company processes millions of claims, knowing that some of these might be fraudulent. Fraudulent claims that get paid out can cause insurance companies unnecessary and sometimes massive losses. One question that is often posed, and one that is …

Quota Share optimisation project

Quota Share optimisation for Solvency purposes A company, under capital strain due to fast premium growth, asked us to consider what proportion of their motor portfolio should be ceded to minimise risk of falling below capital requirements, while still retaining …

Motor Pricing Project

Moral hazard for 2-year product? One of our existing clients for whom we work on quarterly reserving requested us to conduct a monitoring and product development exercise on their Motor portfolio. We spent considerable time in the data extraction stage …

Machine Learning – Applications to Insurance Pricing

 Introduction Say you’ve just received data for motor insurance pricing for a new company. You want to model claim counts, but you’re not quite sure what rating factors really affect counts just by looking at the data, because there’s 2 …

Are Turkish insurers swimming in shark infested waters?

When one looks at the favorable indicators of economic growth, young generation demographics and low insurance penetration in Turkey, it is easy to understand why it has long been an attractive market for insurers. Motor represents around 50% of the …

SAMA 2015 Financial Condition Report Requirements

  SAMA – FCR 2015 Circular The Saudi Arabian Monetary Agency distributed the FCR 2015 Circular on 18 September 2015. Key changes in requirements are highlighted below. Most new requirements align with the draft Circular that was circulated earlier in September, albeit with …