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Technical Pricing of P&C Insurance is a complex thing - both technically and organizationally in the company. Most actuaries have a lot of good ideas to innovate their models, processes - their company. But they normally just lack the time or the resources to do so.

The EAA web session "How to be More Efficient in Technical Pricing in P&C Insurance" on 16 September 2021 | 10:00-12:00 CEST is aiming to addresses this issue: Helping pricing actuaries to gain more efficiency in technical pricing in order to have more resources available for innovation.

We will be sharing some benchmarks on where Pricing Actuaries think that there is room for efficiency gains - and where they would like to innovate. A core part of the session will be sharing levers to gain more efficiency in technical pricing, including e.g.

• How changes in data are efficiently handled in models
• Autofitting GLMs in order to save time in the modelling process
• Reduction of runtime with the use of cloud for technical pricing
• (Partly) automated documentation of technical pricing
• Efficient governance

Besides the conceptual design of those levers for efficiency gains, we will also be including brief illustrations of some of those ways to increase efficiency to make the presentation tangible.