Machine Learning Application for Non Life Pricing and Profitability Analysis

Wednesday 18th March 2020 12 PM GMT

Methods used in non-life pricing are evolving at a fast pace and more advanced actuarial and statistical techniques are being used in pricing, competition analysis and profitability analysis.

Machine Learning and AI techniques are the continuation of the evolution of tools and technologies used by actuaries and statisticians to analyse historical claims data with the aim of:

• improving the predictive power of models
• solving the same problems with new methods, more data and computer power available

Please join us as we walk through a practical case study of machine learning applications to non-life pricing and profitability analysis We will be comparing a set of statistical and machine learning models applied to non-life pricing.

We will be covering:

• Presentation and use of synthetic data to compare the models
• Provide an introduction to machine learning techniques used in non-life pricing and compare them on the synthetic data with the GLMs (pros and cons)
• Open new perspectives for product development (for example competition analysis and profitability analysis) e.g based on GLMs.