SPA Pricing Education, Analytics & Decision Making Tools Webinar Series

Tag: Insurance Pricing

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 […]

Rock Bottom: Aviation Insurance Pricing Can’t Get Any Lower | ia Magazine

Rock Bottom: Aviation Insurance Pricing Can’t Get Any Lower | ia Magazine

Down, Down, Down Over the last 10-12 years, “we’ve seen steadily decreasing rates across the board” for aviation insurance, says Jim Pinegar, vice president of insurance services at the Aircraft Owners and Pilots Association. “That started to stop mid-last year—we thought we were seeing a small bump in the market—but then that was quickly eroded.” […]

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

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

If you need help with life’s basic activities — eating, dressing and bathing — it can be expensive and the cost of that care can decimate your savings. 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. […]

MPs debate £1,200 cap on insurance costs for young drivers | BBC News

MPs debate £1,200 cap on insurance costs for young drivers | BBC News

MPs are debating whether car insurance costs for young people between the ages of 18 and 25 should be capped at £1,200 a year. It follows an online petition that was signed by 185,000 people. So-called e-petitions that attract more than 100,000 signatures have to be considered for a debate in Parliament. It comes on […]

Swiss Re Renewals Drop as Pricing Gets ‘Painful’ | ProgramBusiness

Swiss Re Renewals Drop as Pricing Gets ‘Painful’ | ProgramBusiness

Swiss Re said renewals in its main property and casualty (P&C) reinsurance business dropped by 18 percent in January as it opted out of more business because of falling industry prices. Chief Executive Christian Mumenthaler warned on Thursday, after reporting a 45 percent fall in net profit in the fourth quarter, that more pain was […]

Price optimization: Big data boon or unfair practice? You decide | PropertyCasualty360

Price optimization: Big data boon or unfair practice? You decide | PropertyCasualty360

Price optimization is a hot topic in the insurance world right now. Insurers, customers, state insurance commissioners, big data experts, consumer advocacy groups and industry thought leaders are all weighing in on how the practice will affect insurance. In fact, nearly one in five insurance practitioners predicted price optimization would be the most impactful industry […]

Risk-pricing strategy can make roads safer | New Straits Times

Risk-pricing strategy can make roads safer | New Straits Times

LAST Saturday’s fatal bus accident that claimed 14 lives could have been avoided if bus companies paid higher insurance premiums. Safety and proper maintenance may not be our strong points, but penalty and reward may be the best option to reduce bus-related fatalities and improve the bus system. In developed countries, such as the United […]

Get yourself connected: how insurers are embracing the Brave New World of the IoT | Information Age

Get yourself connected: how insurers are embracing the Brave New World of the IoT | Information Age

It’s a concept known as ‘dynamic pricing’ and one in which connected, embedded and wearable devices, powered by the IoT are key to defining both premiums and the levels of cover provided under the policy, potentially on a minute by minute basis. But how ready are those in the insurance industry to embrace this new […]