SPA Pricing Education, Analytics & Decision Making Tools Webinar Series

Tag: Insurance Pricing

NY Regulators Call on Insurers to Reveal Data Sources | InsuranceNewsNet

NY Regulators Call on Insurers to Reveal Data Sources | InsuranceNewsNet

As accessibility to data grows and data volumes multiply, insurance companies want to harness that data to be able to issue policies faster and at prices that reflect the risk companies bear when issuing a life policy. Simplified underwriting, which avoids invasive blood and urine samples, allow insurers to issue life insurance policies in a […]

Insurance industry ‘struggling to be more agile:’ analytics summit speaker | Canadian Underwriter

Insurance industry ‘struggling to be more agile:’ analytics summit speaker | Canadian Underwriter

The third panelist, Travelers Canada chief actuary Erika Schurr, suggested regulation sometimes gets in the way of being more customer-centric. “Sometimes we want to do something what’s best for a customer and the regulator stops,” said Schurr. “Think of something like price optimization. You don’t like your increase to your Rogers bill? You can call […]

Insulin is too expensive for many of my patients. It doesn’t have to be. | The Washington Post

Insulin is too expensive for many of my patients. It doesn’t have to be. | The Washington Post

A recent paper in the Journal of the American Medical Association found that insulin nearly tripled in cost from 2002 to 2013. A lawsuit filed in January accuses pharmaceutical companies of price collusion for allegedly raising insulin prices repeatedly and in lockstep to match their competitors. Prices have gotten so bad that the American Diabetes Association recently launched an […]

FCA orders Admiral to contact customers over renewal pricing blunder | Insurance Times

FCA orders Admiral to contact customers over renewal pricing blunder | Insurance Times

In a statement today the regulator said: “Admiral has agreed with the FCA to contact affected customers who renewed their policies after 1 April 2017, who may have received inaccurate information. “The FCA is currently assessing firms’ implementation of these rules to ensure that firms are giving customers clear and fair disclosure on their renewal […]

The Race to Find the Next Insurance Credit Score (or How, Maybe, to Reinvent P/C Insurance Pricing) | Insurance Blog

The Race to Find the Next Insurance Credit Score (or How, Maybe, to Reinvent P/C Insurance Pricing) | Insurance Blog

The race is on to find the next insurance credit score—and the winners (if there are winners) will gain a pricing (and underwriting) edge. There are only two requirements to enter in this race. You have to forget about all the kinds of data and information that insurers have been using to price and underwrite […]

Insurers now pricing more accurately, thanks to IoT | Insurance Business

Insurers now pricing more accurately, thanks to IoT | Insurance Business

Thanks to technologies related to the Internet of Things (IoT), assumptions and bases for pricing are now changing. “As new IoT technologies increasingly move into the mainstream, insurers are able to collect and analyse data to more accurately price premiums, helping them to protect the assets they insure and enabling more efficient assessment of damages […]

Deposit insurance in India: Why risk-based pricing model must be introduced | The Financial Express

Deposit insurance in India: Why risk-based pricing model must be introduced | The Financial Express

The global financial crisis underscored the importance of having a robust deposit insurance system (DIS) for the banking system across the world. A 2014 IMF paper estimated that nearly 112 countries (59% of 189 countries covered in the study) had a DIS. It was in 2008, that Australia and New Zealand introduced guarantees for the […]

Soon, you will be able to try out a health insurance policy on a trial basis | Moneycontrol.com

Soon, you will be able to try out a health insurance policy on a trial basis | Moneycontrol.com

Your insurance company may soon offer a product on trial to see if it works in the market. With the insurance regulator allowing general insurers and health insurers to bring out pilot products, companies are readying products for a soft launch. In July 2016, Insurance Regulatory and Development Authority of India (IRDAI) notified a set […]

Deploying machine learning in insurance pricing | pwc blog

Deploying machine learning in insurance pricing | pwc blog

Insurers have been investigating the deployment of machine learning techniques in the pricing arena, seeking to exploit the speed at which models can be built and refreshed compared to the use of more traditional generalised linear modelling techniques. Machine learning techniques offer significant advantages over these traditional models, including the availability of various types of […]

Long-term care insurance facing major pricing shift | The Washington Post

Long-term care insurance facing major pricing shift | The Washington Post

The problem is that there have been some steep premium increases for long-term care insurance, and it has many people wondering if the insurance is worth it. Insurance companies have had trouble pricing the insurance. Initial premiums charged haven’t been enough to cover claims. But how the insurance is priced may be changing significantly. Rather […]