Eligibility Criteria

  • The Pricing Game is designed for students/practitioners that have a background on Actuarial Science.

  • Knowledge on GLMs or programming are not required.

To Register

    For all the queries kindly drop us an email on
    ksa@badriconsultancy.com

    Pricing Game 2022 – Saudi Arabia

    Day 1: 13/6/22, 6 hours 9:00 – 16:00

    Part 1: Kick-off event (40 min) 9:00-9:40

    • Presentation of the event and agenda – Badri
    • Presentation of Addactis mission and range of solutions – Addactis
    • Context of the KSA market – Badri
    • Motivation and objectives of the Pricing Game

    Part 2: Introduction, experience with GLMs, review (80 min) 9:40 – 11:00

    • Why do we need GLMs? What do we know so far from different markets? – addactis
    • Why is it more beneficial for the bottom line to implement a more segmented pricing? – addactis and Badri
    • Specificities in KSA motor insurance (regulation, rating factors, data) – Badri
    • Benchmark Badri in KSA – Badri

    Part 3: Practical aspects and presentation of the Pricing Game (2 hours) 11:20 – 13:00

    • Data structure and modeling requirements – addactis
    • Presentation of the Pricing Game – addactis and Badri
    • Policies and claims information analysis – addactis
    • Demo on addactis® Pricing – addactis

    Lunch Break (60 min) 13:00 – 14:00

    Pricing Game Setup – interactive session (120 min) 14:00 – 16:00

    • Data segmentation – addactis and Badri
    • Large claim analysis – addactis and Badri
    • Frequency, severity and pure premium analysis
    • Time consistency
    • Univariate analysis, detection of interactions, and correlations
    • Pre-modeling data treatment

    Day 2: 14/6/22, 6 hours 09:00 – 16:00

    Part 1: GLM modeling – interactive session (120 min) 09:00 – 11:00

    • How to read GLM outputs in Pricing
    • Review of exponential family and multiplicative structure
    • Interactive modeling session with addactis® Pricing

    Break (20 min) 11:00 – 11:20

    Part 2: Premium consolidation and loss projection (100 min) 11:20 – 13:00

    • Rating structures consolidation: projection assumptions and premium formulas
    • Reporting: Plan performance and dislocation analysis
    • Performance metrics

    Lunch Break (60 min) 13:00 – 14:00

    Part 3: Model selection and delivery of results (120 min) 14:00 – 16:00

    • Overall Pricing process review
    • Introduction to price optimization
    • Rating strategy selection
    • Delivery of results

    BADRI Driving Value

    Insurance Expertise

    Extensive GCC insurance expertise and experience

    Diverse Projects

    Key Industry Projects Implementation

    Technology & Human Capital

    Strong Analytical tools and performance driven teams towards efficient client servicing

    Main Objectives

    Creating a General Vision

    Get a general vision of an end-to-end pricing workflow.

    Role of the Pricing Actuary

    Understand the role of the pricing actuary in the insurance business.

    Application of Actuarial Theory

    Apply actuarial theory to quantify financial risks in an insurance problem.

    Topics covered in the Pricing Games

    Concept of risk differentiation and adverse selection

    Inflation, trend and exposure analysis

    Concepts of actuarial indicators, frequency, severity, and pure premium

    Statistical modelling with multivariate techniques (GLMs)

    Premium models consolidation

    Impact analysis for out-of-sample projections

    BADRI Addactis Pricing Game Presentation

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