De-Stressing Math Collective (DMC): Generalized Linear Models for Actuarial Ratemaking

Join the De-Stressing Math Collective (DMC) for "Generalized Linear Models for Actuarial Ratemaking." The speaker will be Sean Malloy, who works at Firsthand Insurance Recruitment. Snacks will be served in the Math Lounge (Park 360) at 6:30 PM.

Abstract: Ratemaking actuaries are concerned with anticipating complex and unknown future events. They employ theoretical probability frameworks within a range of predictive models to minimize variance and accurately predict risk. This lecture provides a simplified overview of ratemaking in the context of pet insurance, from the identification of meaningful risk variables through the construction of a complete claim frequency model. An emphasis is placed on the mechanics of Generalized Linear Models, a machine learning method common in actuarial science for its deployable outputs and explicit acknowledgement of particular error distributions.