In today's age of big data, insurance pricing models are becoming more dynamic. With better systems, companies are able to capture more comprehensive information about policyholders. Regulators have also taken note of this and now require more sophisticated models. Given all this, traditional pricing methods may be due for an overhaul.
In this workshop, we present the Generalized Linear Model (GLM) - a solution to generating highly interpretable and data-driven rating models. We will introduce how to build, diagnose and interpret your own GLMs in the R programming language by demonstrating a use case on sample motor insurance data.
This can be extended to most personal lines such as medical insurance or home insurance.
The workshop is meant to be interactive in nature, enabling participants to build and analyse models in real time along with the instructors. Code & supporting data shall be provided to participants. Participants are expected to attend with their own laptop or PC, loaded with the R software.