Elastic Net Regression for Predictive Modeling

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Description

PLEASE NOTE: REGISTRATION WILL CLOSE 10 AM ET THE DAY OF THE WEBINAR.
DUE TO HIGH VOLUME OF DEMAND, WE ARE ONLY ABLE TO GUARANTEE A SEAT TO THOSE WHO REGISTER 48 HOURS AHEAD OF THE WEBINAR TIME.

Elastic nets are an innovation on traditional approaches to actuarial pricing models. GLMs have been a standard tool for building insurance pricing models for the last two decades. They have some known limitations, such as granting full credibility to the parameter estimates and being prone to overfitting on segments where data is sparse. Elastic nets introduce a penalty term, the effect of which is to shrink the model parameters toward or to zero. This has the combined effect of limiting the model’s response to outliers and eliminating variables completely from the model when they lack statistical stability. The result is often a more accurate pricing model.

The webinar will include a discussion of foundational elements of elastic nets. An open source demo will showcase the ability of elastic nets to remove noise variables and the selection of appropriate hyperparameters using cross validation. Viewers will see some of the standard model output generated by elastic net fitting software.

Learning Objectives:

1. Understand the difference between a traditional GLM and elastic net
2. Understand the difference between the types of penalty terms and their behaviors
3. Know how to select “hyperparameters” for elastic net models
4. Know what business problems can benefit from elastic net regression
5. Become familiar with standard model output and know how to interpret it

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Registration Information and Fees

PLEASE NOTE: REGISTRATION WILL CLOSE 10 AM ET THE DAY OF THE WEBINAR

Registration Fees (in U.S. Dollars)	Received on/by April 7, 2022	Received after April 7, 2022
Individual	$50	$75
Group* (more than one person using the same internet connection) PLEASE NOTE: We will be eliminating the Group Registration rate starting in June 2022.	$300	$350
Multiple Connections** (Unlimited internet connections for individuals working for the same company. Please note that audio for this presentation will be streamed via the web)	$600	$650

*Group Registrations will receive a code during the webinar with which they can use to count their attendance. PLEASE NOTE: We will be eliminating the Group Registration rate for webinars starting June 1, 2022 due to decreased demand as fewer organizations hold webinars in common meeting areas at their Headquarters.

**Multiple Connection Registrations should contact Ami Ruffin directly at aruffin@casact.org The registering party for the Multiple Connection Registration will be responsible for distributing all event details to attending individuals within their company.

Cancellations/Refunds
Registrations fees will be refunded for cancellations received in writing at the CAS Office via fax, 703-276-3108, or email, refund@casact.org, by April 14, 2022 less a $25 processing fee.

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