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99 Problems but Bias ain't One??

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.

There has been a significant amount of discussion, debate, and research around the examination of rates and actuarial models for potential bias against protected classes. This has led to several potential approaches to measuring and mitigating potential bias. As with any emerging area, moving from a theoretical construct to practical implementation can be a challenge, and often results in unexpected implications. This session will cover the practical considerations around the implementation of several methods for measuring potential bias. This session will explore examples of these practical considerations, including discussion of mini simulation scenarios.

Learning Objectives:

  1. Explain the challenges and implications of moving towards practical implementation.
  2. Explain the challenges measuring potential bias and why it's important.
  3. Identify the advantages and disadvantages of bias measures and mitigation techniques.
  4. Demonstrate and explain the possible impact of bias mitigation approaches through mini simulations.
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
July 11, 2024
Received after
July 11, 2024
Individual $50 $75
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

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

No Broadcast Policy
Your registration entitles you to access CAS’ webinar programs for which you have registered. By registering to attend the webinars, you agree not to sell, transfer, or otherwise share your webinar access link and/or code unless such sharing is authorized by CAS. You further agree not to record or broadcast CAS’ webinar programs without advance written authorization by CAS.

Cancellations/Refunds
Registrations fees will be refunded for cancellations received in writing through email, refund@casact.org, by July 18, 2024 less a $25 processing fee.

CAS Continuing Education Policy
The CAS Continuing Education Policy applies to all ACAS and FCAS members who provide Actuarial Services. Actuarial Services are defined in the CAS Code of Professional Conduct as “professional services provided to a Principal by an individual acting in the capacity of an actuary. Such services include the rendering of advice, recommendations, findings or opinions based upon actuarial considerations.” Members who are or could be subject to the continuing education requirements of a national actuarial organization can meet the requirements of the CAS Continuing Education Policy by satisfying the continuing education requirements established by a national actuarial organization recognized by the Policy. For further information regarding the CAS Continuing Education Policy please visit the CAS web site.

CAS Webinars may qualify for up to 1.8* CE Credits for CAS members.
Participants should claim credit commensurate with the extent of their participation in the activity. CAS members earn 1 CE Credit per 50 minutes of educational session time, not to include breaks and/or lunch. *The amount of CE credit that can be earned for participating in this activity must be assessed by the individual attendee. It also may be different for individuals who are subject to the requirements of organizations other than the Casualty Actuarial Society.

Contributors

  • Gary Wang

    Since 2005, Gary has provided actuarial consulting services to clients, with a heavy focus on predictive analytics. He has worked extensively on the application of advanced statistical modelling techniques to the insurance process. Gary has led, developed, and executed complex data processing and explorations taking client data to model ready extractions. These exercises included creating new variables from the raw company data as well as the joining, reviewing, and engineering of explanatory variables from external data sources. In addition to developing the models and analysing results, Gary has collaborated closely with clients to incorporate business considerations to develop implemented plans that properly balance the model indications with company and client domain knowledge and business constraints.

  • Michael Chen

    Michael re-joined Pinnacle in 2023 after three years with a large consulting firm. Michael has been in the property/casualty industry since 2003, focusing on pricing and product development. In this role, he has developed homeowners, private passenger auto, farm owners, crop insurance and commercial lines pricing solutions through the design and implementation of advanced predictive models. Michael has worked extensively on the application of advanced statistical modeling techniques to the insurance process. His experience in predictive analytics applications include rating and underwriting plan design, homeowners by peril analyses, auto vehicle characteristics analyses and scorecard development, territory boundary development and commercial lines pricing. Michael has made numerous presentations on topics relating to predictive analytics, its application to insurance and professionalism. Michael performs traditional actuarial analyses, including overall rate level indications, rate and rule filings, regulatory support and assessment of company financial experience. He develops risk classification plans through assessment of underwriting profitability, competitive analysis and research of insurance laws. He also performs rate filing reviews for departments of insurance. He has also designed custom underwriting scorecards, developed claim triage scorecards, peer-reviewed and advised companies on their analytics processes, and performed loss reserving analyses.

July 25, 2024
Thu 12:00 PM EDT

Duration 1H 30M

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