Motor Insurance Pricing Practices

Discussion in 'Off-topic' started by mulita, Jan 12, 2019.

  1. mulita

    mulita Keen member

    Hi,

    I am in a country where pricing of motor insurance has not involved actuaries (we do not have any qualified here, me too I am a student). Prcing has mainly been competitive undercutting, the basis being the previous years expenses and claims payment (combined loss ratio)

    I would like to learn in general how pricing is done actuarially - been asked to provide an overview. I am asking about pure premiums based on past claims, issues of profit margin will come in later.

    Thank You,
     
  2. Pede

    Pede Ton up Member

    Wow, what a broad question. Given you're already a student, I'd suggest you buy the SP8 CMP - you'll probably take the exam at some stage anyway, so no harm in getting stuck in early!
     
  3. mulita

    mulita Keen member

    thanks, i just wanted to give it a try. Will probably purchase material
     

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