A01=Pietro Parodi
Actuarial Exam
ADVANCED PRICING METHODS
Age Group_Uncategorized
Age Group_Uncategorized
Aggregate Loss
Aggregate Loss Distribution
Aggregate Losses
Author_Pietro Parodi
automatic-update
Burning Cost
Burning Cost Analysis
Category1=Non-Fiction
Category=KCH
Category=KCHS
Category=KFFN
Category=PBT
Category=PBW
Chain Ladder Method
Claims Inflation
Collective Risk Model
COP=United Kingdom
Cumulative Distribution Function
Data Set
Delivery_Delivery within 10-20 working days
DY
ELEMENTS OF SPECIALIST PRICING
eq_business-finance-law
eq_isMigrated=2
eq_non-fiction
Experience rating for non-proportional reinsurance
Exposure Curve
Exposure Rating
General Insurance Exam
General Insurance Pricing
Gpd Model
Individual Risk Model
Insurance Policyholder
Insurance Pricing Process
Insurance Rate
Insurance Risk
Language_English
Lognormal Distribution
Loss Amount
Loss Occurrence
LR
Mixing client and market information via credibility theory
Monte Carlo Simulation
Negative Binomial Distribution
Non-proportional Reinsurance
PA=Available
Personal Lines Policy
Policy Year
Price_€50 to €100
PS=Active
Risk Analysis
Risk Assessment
Risk Calculation
Risk Data Preparation
Risk Frequency Analysis
Risk Severity Analysis
Severity Distribution
Severity Model
softlaunch
ST8 Exam
THE BASIC PRICING PROCESS
Pricing in General Insurance
Based on the syllabus of the actuarial profession courses on general insurance pricing – with additional material inspired by the author’s own experience as a practitioner and lecturer – Pricing in General Insurance, Second Edition presents pricing as a formalised process that starts with collecting information about a particular policyholder or risk and ends with a commercially informed rate.
The first edition of the book proved very popular among students and practitioners with its pragmatic approach, informal style, and wide-ranging selection of topics, including:
- Background and context for pricing
- Process of experience rating, ranging from traditional approaches (burning cost analysis) to more modern approaches (stochastic modelling)
- Exposure rating for both property and casualty products
- Specialised techniques for personal lines (e.g., GLMs), reinsurance, and specific products such as credit risk and weather derivatives
- General-purpose techniques such as credibility, multi-line pricing, and insurance optimisation
The second edition is a substantial update on the first edition, including:
- New chapter on pricing models: their structure, development, calibration, and maintenance
- New chapter on rate change calculations and the pricing cycle
- Substantially enhanced treatment of exposure rating, increased limit factors, burning cost analysis
- Expanded treatment of triangle-free techniques for claim count development
- Improved treatment of premium building and capital allocation
- Expanded treatment of machine learning
- Enriched treatment of rating factor selection, and the inclusion of generalised additive models
The book delivers a practical introduction to all aspects of general insurance pricing and is aimed at students of general insurance and actuarial science as well as practitioners in the field. It is complemented by online material, such as spreadsheets which implement the techniques described in the book, solutions to problems, a glossary, and other appendices – increasing the practical value of the book.
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Product Details
- Weight: 1545g
- Dimensions: 178 x 254mm
- Publication Date: 02 May 2023
- Publisher: Taylor & Francis Ltd
- Publication City/Country: GB
- Language: English
- ISBN13: 9780367769031
About Pietro Parodi
Pietro Parodi has worked in general insurance pricing since 2005. He is currently Head of Methods and Tools for SCOR Specialty Insurance, and since 2012 a part-time lecturer at Bayes (formerly Cass) Business School. He has previously worked at Willis, Aon Benfield and Swiss Re. He is a fellow of the Institute and Faculty of Actuaries in the UK.
In his previous professional incarnations, he was a network administrator/IT project manager and a research scientist in the fields of artificial intelligence and neuroscience. He has a MSc and a PhD in Physics from the University of Genoa, Italy. Prior to university, he studied as an electronics technician at St John Bosco’s secondary school in Genoa, where he could have developed some serious practical skills had his attention not been hijacked by the maths around Laplace transforms.
In 2012 he received the Brian Hey Award for his paper Triangle-free reserving, which he presented at GIRO.
He lives in East London with his wife and his four children.
