INSURANCE The Fully Automated Ratemaking Process
The Fully Automated Ratemaking Process
The insurance industry has been heavily investing in process innovations – straight through underwriting, image capture claims, customer service chatbots. But what about the process of ratemaking; what is our next innovation? What if we could full automate the pricing process? In this session we will take a futuristic look into the automated pricing process and will dive deeper into:
- What it will take to create the fully automated pricing process
- Data management, statistical modeling, rate filing, rate deployment, performance monitoring and other tools
- Process automation in conjunction with machine learning and other statistical techniques
- Understand if the futuristic model of a fully automated rating engine could become a reality within our careers.
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On this webinar, you will learn:
- What are the building blocks required for a fully automated ratemaking process?
- What type of competitive advantage can be realized through one touch ratemaking?
- What are the challenges and pitfalls of a fully automated ratemaking process and how to mitigate them?
- How to start with automation? Where should we invest today?