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  1. On Demand Courses
  2. Location, Location, Locatio...
  3. Location, Location, Locatio...

    Location, Location, Location: Importance of Geocoding Accuracy in Pricing Natural Catastrophes

    • Overview

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    CAS provides closed captioning generated by software applications for the convenience of viewers. CAS does not review for accuracy of the information that appears in a closed caption, and such information (including any foreign language translation and transcription displayed in a closed caption) may not be relied upon as an accurate or complete record of CAS programming. CAS makes no representations or warranties, and expressly disclaim any responsibility or liability with respect to, any errors or omissions in, or the accuracy, reliability, timeliness or completeness of, any information that appears in a closed caption.

    Description

    PLEASE NOTE: REGISTRATION WILL CLOSE 10 AM ET THE DAY OF THE WEBINAR.
    DUE TO HIGH VOLUME OF DEMAND, WE ARE ONLY ABLE TO GUARANTEE A SEAT TO THOSE WHO REGISTER 48 HOURS AHEAD OF THE WEBINAR TIME.

    We will demonstrate the importance of accurate geocoding in classifying catastrophic risk, including the particularly sensitive perils of wildfire and flood. This will include exploring how geocoding works, why not all geocoding results are “created equal,” and how to address limitations with geocoding. We will also discuss why wildfire and flood are such localized perils, with risk varying greatly between relatively close locations. Finally, we will consider other implications of understanding an exposure’s accurate location, such as underwriting and managing concentration.

    Learning Objectives:

    1. Understand the geocoding process, how to interpret the results, and important limitations.
    2. Understand drivers of flood and wildfire risk, particularly small-scale, local factors.
    3. Understand the importance to property insurers of knowing accurate location information for their insured risks.

    Registration Information and Fees

    PLEASE NOTE: REGISTRATION WILL CLOSE 10 AM ET THE DAY OF THE WEBINAR

    Registration Fees (in U.S. Dollars) Received on/by
    May 16, 2023
    Received after
    May 17, 2023
    Individual $50 $75
    Multiple Connections**
    (Unlimited internet connections for individuals working for the same company. Please note that audio for this presentation will be streamed via the web)
    $600 $650

    *Multiple Connection Registrations should contact Leanne Wieczorek directly at 
    lwieczorek@casact.org. The registering party for the Multiple Connection Registration will be responsible for distributing all event details to attending individuals within their company.

    No Broadcast Policy
    Your registration entitles you to access CAS’ webinar programs for which you have registered. By registering to attend the webinars, you agree not to sell, transfer, or otherwise share your webinar access link and/or code unless such sharing is authorized by CAS. You further agree not to record or broadcast CAS’ webinar programs without advance written authorization by CAS.

    Cancellations/Refunds
    Registrations fees will be refunded for cancellations received in writing through email, refund@casact.org, by May 23, 2023 less a $25 processing fee.

    CAS Continuing Education Policy
    The CAS Continuing Education Policy applies to all ACAS and FCAS members who provide Actuarial Services. Actuarial Services are defined in the CAS Code of Professional Conduct as “professional services provided to a Principal by an individual acting in the capacity of an actuary. Such services include the rendering of advice, recommendations, findings or opinions based upon actuarial considerations.” Members who are or could be subject to the continuing education requirements of a national actuarial organization can meet the requirements of the CAS Continuing Education Policy by satisfying the continuing education requirements established by a national actuarial organization recognized by the Policy. For further information regarding the CAS Continuing Education Policy please visit the CAS web site.

    CAS Webinars may qualify for up to 1.8* CE Credits for CAS members.
    Participants should claim credit commensurate with the extent of their participation in the activity. CAS members earn 1 CE Credit per 50 minutes of educational session time, not to include breaks and/or lunch. *The amount of CE credit that can be earned for participating in this activity must be assessed by the individual attendee. It also may be different for individuals who are subject to the requirements of organizations other than the Casualty Actuarial Society.

    Contributors

    • Garrett Bradford

      Principal and GIS Consultant. Garrett directs the Geographic Information Systems (GIS) work for the Property and Casualty practice in Milliman’s San Francisco office. He joined the firm in 2010. Garrett manages and produces GIS data for visualization, analysis, underwriting, and rating. Garrett is an expert in data visualization and produces maps and charts that enable insurers to understand their data across a range of geographic scales and to make sound business decisions. Through the use of GIS and mapping at every step of an analysis, Garrett helps clients identify unique spatial patterns that can drive pricing and underwriting strategies.

    • Greg Dietzen

      Greg is a consulting actuary with the Property and Casualty practice in Milliman’s San Francisco office. He joined the firm in 2015. His work centers on rate and product development for homeowners and private flood lines. In particular, he has focused on catastrophic risk analysis, including catastrophe model review and validation. He has helped several clients with multi-state implementations of major rating plan updates and new programs.

    May 30, 2023
    Tue 12:00 PM EDT

    Duration 1H 30M

    This live web event has ended.

    For Content or Purchase Questions
    office@casact.org
    (703) 276-3100
    9am - 5pm ET**
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