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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