[Webinar OpenFloor] Price Walking & Demand Modelling- 5 June 2024

On behalf of Jan Küthe from Akur8 and Alessandro Zanetti from Milliman, the Board of the Polish Actuarial Association is pleased to invite its members, as well as members of the CEE actuarial associations, to a complimentary webinar in the „Open Floor” series, titled „Price Walking & Demand Modelling.”

Price walking, demand modeling and price elasticities – between theory and regulation

In recent years, great progress has been made in predictive modeling theory and practice. This leads in particular to stronger risk models in pricing, but related issues such as demand modeling are also attracting more and more attention.

First and foremost from the regulatory side: so-called price walking, which is characterized by the targeted setting of different prices for new and existing customers to exploit different price elasticities, has been banned by the British FCA and is under consultation with EIOPA.

Hence we will look at demand and price elasticity from an actuarial perspective. In doing so, we will distinguish between different modeling approaches, solve extrapolation problems and fundamentally think about inference from observed data to derive price elasticity. Precisely because this price elasticity is a second-order effect, which cannot be assessed without the offered premium and the demand level at a flat renewal price (which must also be estimated), risk modeling concepts have to be adapted to appropriately model demand.

About the speakers: 

Jan is an Actuarial Data Scientist at Akur8, where he helps insurers all over the globe harness the potential of 21st-century pricing methods. He previously worked at a global actuarial consultancy, also in the field of pricing. He holds a Master of Mathematics from the University of Bonn and lives in Cologne, Germany.

Alessandro is a Senior P&C Manager at Milliman Italy and CEE. He has more than 10 years of experience on pricing and ratemaking helping insurance companies (in Italy and abroad) to improve their pricing sophistication and offerings. Alessandro is a fully qualified actuary (ISOA)


When: 5 June 2024 (Wednesday) at 17.00 CET,  Zoom meeting (https://zoom.us/j/96477192507 with no password or registration required).

Duration: the webinar is expected to last 60-70 minutes, including the Q&A.

Technical remarks:

  • The lecture will be conducted in English.
  • The lecture will be a webinar, not a Zoom meeting, so participants will not have ability to turn on their cameras, microphone, or share their screens with other attendees.
  • Questions can be submitted through the Q&A box (only answered questions will be visible to all attendees).
  • The webinar is free of charge and does not require registration.
  • Please note, the webinar will not be recorded.