Mardi matin, on organise un point pour la chaire actinfo, le septieme depuis le lancement de la chaire. Les infos sont en ligne sur le blog de la chaire… (ou le seront tres bientot)
The Third Actuarial Pricing Game is still open, the deadline for submission is still February 25th. As mentioned in the instructions, for those willing to play in a market where reinsurance is available, here are the prices offered by some reinsurance company.
As mentioned in the description, the price is per insurance policy, per year. Players should send me their premiums in a csv file, gross of reinsurance, and mention in the email that they want to purchase treaty (A) – for instance (and mention explicitly in the object of the email that they want to play in this specific market, where reinsurance is available).
- a description of the game : the rules, the dates, and a description of the datasets
- 3 datasets : one underwriting and one claims databases, for year 0 (training data) and one underwriting dataset to enter the game
Anyone can play. Students from various programs around the world, as well as practitioners are welcome to play. It can be by teams, and there are no limit on the size. And there is no registration: to start playing, teams have to submit a dataset before the deadline (end of February), to email@example.com.
We will launch within the next few days the Third Actuarial Pricing Game. The goal will be to replicate the behavior of insurance markets over time. There will be a first stage (January-February) where players will have to build a pricing model for motor insurance policies on the basis of 50,000 contracts observed Year 0 (characteristics of contracts, policyholder, and claims datasets). Proposals for premiums for Year 1 will have to be provided for the same contracts (updated for the age, the location, the car model, etc.). Players will use only the underwriting datasets to provide premiums for Year 1.
Between February 25th (deadline for the proposal for premiums) and March 1st, we will replicate an insurance market by creating competition among insurers (players), and by setting simple rules to match drivers and insurers (randomly among the cheapest at the beginning of the game, and then, as time goes by, we will add inertia, i.e. a tendency to stay with the same insurer if the latter is not too expensive). Once the drivers and the playees are matched we will provide claims information for the insured that each player has won. A new premium proposal must then be submitted at the end of Year 1 (i.e. at the end of March). Etc.
We will here try to replicate the a car insurance market over four years. The goal (for players) will be to maximize the profit of the insurance company over those four years. To make the game more realistic, insurers are assumed to have capital, and they can remain in the game only if their yearly loss ratio (claims over premium) is less than 150%. More information next week (rules, and training datasets).
This one-day conference will focus again on applications in insurance and actuarial science that use R, the lingua franca for statistical computation. The intended audience of the conference includes both academics and practitioners who are active or interested in the applications of R in insurance. The two invited speakers are Katrien Antonio (KU Leuven) and Julie Seguela (Covea). It will be a nice event !