Session Information
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Price Optimization — Getting Started
Track : CAS Spring Meeting 2009
Program Code: C-16
SPEAKER (S):
Serhat Guven, Consultant, EMB America LLC
Bob Weishaar, ODG, a LexisNexis Company
Description
Optimization is the hot topic for personal lines predictive modeling. This session will provide a brief overview of optimization and identify some of the key issues such as building elasticity and risk models, designing the appropriate value functions that combine the component models and creating the appropriate optimization algorithm to search for the set of rates given a certain set of constraints. In addition this session will cover opportunities and pitfalls associated with price optimization strategies.


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