Workshop C2: Pricing: the state of the market
Presented by the IFoA GI Pricing Research Group (PRG), we will cover a macro-level view of the current issues influencing pricing in three main sections:
Part 1: Profitability, drivers and trends
To open the session, we will provide an overview of levels of profitability from the recent past, the present, and projected into the future, with discussion on the main drivers and trends. This will cover both:
- The UK domestic market (motor and home in particular)
- The Lloyd's/London market and global P&C (re)insurance
Part 2: The issues register
In this part, we will cover highlights from the issues register maintained by the PRG, which captures the main influences currently affecting pricing, pricing functions and the role of actuaries in pricing. This will include:
- PESTLE analysis of external factors influencing pricing
- Developments in best practice and research
- Horizon scanning: emerging risks and trends
- Brief overview of the activities of the PRG and IFoA in addressing these issues
- We are also considering a survey of pricing actuaries and/or conducting a chief pricing actuary roundtable; findings from these may also be included.
Part 3: The pricing function in 2024
Finally, we look at how pricing and portfolio management functions should be acting to address the challenges of the current environment, and evolving to address those of the future.
Target audience and assumed knowledge level: No specialist knowledge required.
Speaker and company:
Edward Plowman, Guy Carpenter, Mohammed Khan, PwC
James Anderson, EY
James Rakow, Deloitte
Zvi Ebert, KPMG
