RESERVE YOUR SPOT
Wednesday, March 29, 2023 1 - 2 PM EDT
Description
Univariate analyses and simple GLMs based on ADAS show little to no lift for insurance, so why use ADAS in pricing?
New vehicles are equipped with sophisticated technology designed to make driving safer. But, these features wind up costing more to repair when an accident occurs. Insurers are asking themselves how these features impact the overall cost of insuring these vehicles. Until recently, there was no clear answer.
Join Joey Sveda, Consulting Actuary at Pinnacle Actuarial Resources and Don Hendriks, Director of Analytics for CARFAX’s Banking & Insurance Group as they discuss how insurance carriers can effectively quantify the benefits and costs of advanced driver assistance systems, or ADAS. They will explore techniques that carriers can use to get the most out of the information available today, and how they can benefit their customers who choose vehicles with the most effective systems.
About The Speakers:
Don Hendriks, ACAS, ASA, FCA, MAAA, Director of Analytics for CARFAX's Banking and Insurance Group
With 25 years of experience as an actuary, predictive modeler, and data scientist in the property-casualty insurance industry, Don has led the development of several new product initiatives. Don’s spent a lot of valuable time developing new and enhancing existing personal auto rating plans, building innovative credit-scoring algorithms and custom driver class plans, and implementing proprietary vehicle symbol plans. You can frequently find Don speaking at insurance, actuarial and telematics conferences, covering topics ranging from product development and management to measuring and maximizing data analytics for insurers.
Joey Sveda, Consulting Actuary at Pinnacle Actuarial Resources
Joey has experience in assignments involving predictive analytics, commercial and personal lines pricing plans, actuarial studies for captives involving loss reserving and commercial lines ratemaking. He serves as project manager on multiple predictive analytics projects designing rating plans for personal auto, homeowners and business owners policy (BOP) lines. He also develops retention models to use for competitive analysis and customer lifetime value analysis. Joey’s recent research interests include holistically understanding vehicles, including ADAS features, to help insurer’s fine-tune their rates.
Questions?
Email [email protected]
