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How Actuaries Can Create a Pricing Framework Using Next Generation Technologies

2022 Webinar - How Actuaries Can Create a Pricing Framework Using Next Generation Technologies - June 21

This presentation will share ideas on how actuaries can create a pricing framework using next generation technologies. First, we will compare and contrast existing pricing frameworks leveraging common analytics software such as Excel and Access/PowerBI to cloud-based solutions.

These existing frameworks have challenges with documentation and oversight/controls that newer solutions can facilitate, enhancing compliance with ASOPS 41 (Actuarial Communications), 53 (Estimating Future Costs) and 56 (Modeling).

We will review several approaches that actuaries can adopt, providing a deep dive into one or two case studies showing processes actuaries can adopt within their teams, as well as, the technology they can leverage to set up a pricing framework that allows them to move with greater agility without sacrificing robust controls and oversight.

Learning Objectives:
Following this session, participants should be able to:
● Apply Actuarial Standards of Practice 41, 53, and 56 to modern pricing frameworks.
● Understand how next-generation technology can enable the pricing process transformation
● Apply best practices to their own organizations in order to unlock value along the pricing process

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