Category Archives: Pricing

Machine Learning: “Pricing” the Way Forward

This presentation, given at the Technical Issues in General Insurance (TIGI) Conference in April 2019, explores Machine Learning in Insurance Pricing. While stochastic models such as GLM’s have shown promise, there are shortcomings to such models. For instance, these models …

Life Pricing project

We got ’em all Term In/Assurance (Limited, Single, Regular Pay), Unit Linked, Universal Life, Endowment Assurance – you name it and you get it! Lux Actuaries prices all types of Life Insurance. We recently performed Life Pricing for one of …

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 …

Health Pricing Project

Diabetes Management Program We took on a new client seeking to implement a chronic disease management program in the region, starting with the UAE. We were tasked with analysing the internal data available to identify eligible members for the program …

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 …