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Price Optimization and Unfair Rate Discrimination

 

Title: Price Optimization and Unfair Rate Discrimination: Emerging Regulatory and Litigation Issues in the Era of “Big Data”
Date & Time: Wednesday, September 18, 2019 from 12:00 – 1:15 pm ET / 11:00 am – 12:15 pm CT
Location: Live online webinar
Continuing Education: 1.5 NYCLE, Approved for initial certification and recertification
Moderator: Paul Braithwaite, FCAS, MAAA, Senior Managing Director, Practice Co-Leader – Global Insurance Services, FTI Consulting
Panel: Rich Piazza, Louisiana Department of Insurance
John Pruitt, Eversheds-Sutherland
James Lynch,  Insurance Information Institute

Learning Objectives

    • Overview of industry use of predictive pricing models and increasingly complex rating approaches
    • Regulatory and legal views of unfair discrimination
    • Examples of class action lawsuits against insurance companies
    • Relevant guidance including actuarial standards of practice

Registration Information

Members Non-Members
$180 $250

Registration: Register today! Please contact the ARIAS team at info@arias-us.org or call 703-574-4087 if you have any issues.

Refund/Cancellation Policy: The cutoff date for a full refund of the webinar registration is Monday, February 18th.   Failure to cancel by this date will result in forfeiture of the entire registration fee.

Questions? For questions about this seminar, please contact info@arias-us.org or call 703-574-4087.


Meet the Panelists

Moderator

Paul Braithwaite, FCAS, MAAA
Senior Managing Director, Practice Co-Leader Global Insurance Services
Forensic and Litigation Consulting
FTI Consulting

Paul Braithwaite is a Senior Managing Director in FTI’s global insurance services practice. As a past President of the Casualty Actuarial Society with over 30 years of industry experience, he brings a deep knowledge and understanding of actuarial science, underwriting, insurance and reinsurance company management to the practice.

Mr. Braithwaite has served as an Appointed Actuary to insurance companies, provided expert testimony/dispute resolution support, loss reserve reviews, reinsurance commutations/reserve reviews, underwriting audits, due diligence, finite risk/structured product pricing analysis and regulatory services. He has extensive reinsurance pricing and underwriting experience including the specialty areas of professional liability, workers compensation, umbrella liability, accident & health, agriculture, surety and various other lines of property-casualty business. He has consulted with companies on capital standards for life, health and property-casualty business and recently advised a major multi-line insurance group about issues related to a potential strategic acquisition.

Prior to joining FTI, Mr. Braithwaite was the leader of the insurance services team of a major consulting company, where he also served as the global actuarial practice leader. Mr. Braithwaite has also held high level executive roles in the industry. He has testified as an expert in insurance and reinsurance disputes and has provided expert advice to insurance companies, captives, self-insureds, brokers, and investment firms. He brings more than a decade of executive and operational experience within the reinsurance industry, playing such critical roles as Chief Actuary as well as Senior Vice President & Chief Underwriting Officer across several global specialty business lines.

Mr. Braithwaite is well respected in the insurance / reinsurance industry, holding prominent positions with the Casualty Actuarial Society. He is an oft-requested speaker at industry events and conferences on topics including Solvency II, Capital Requirements and Capital Modeling, Reinsurance Risk-Transfer and Reinsurance Pricing. He has also published several articles on these topics.


Panelist

Rich Piazza, ACAS, MAAA
Chief Actuary
Louisiana Department of Insurance

Richard (Rich) Piazza has served as Chief Actuary responsible for all actuarial functions at the Louisiana Department of Insurance since 1993. He and his staff are responsible for reserve adequacy reviews, rate reviews and other actuarial analysis for all lines of insurance. He is a past Chairman of NAIC’s Casualty Actuarial and Statistical Task Force (CASTF 2011-2015, 2018) and currently serves as vice-chair (2016-2017, 2019). He led CASTF in writing a white paper on Price Optimization (2015) and is currently chairs the drafting group for a white paper on Regulatory Review of Predictive Models.

During his career with the Department of Insurance, Mr. Piazza has presented actuarial data and analysis to the general public, the Louisiana legislature and industry groups. He has led industry actuaries in costing the impact proposed legislative reforms would have on automobile and home insurance. A graduate of Loyola University in Chicago with a degree in mathematics, Piazza began his career as an actuary with Allstate Insurance Company in Northbrook, IL, before going to the Allstate Research Center in Menlo Park, CA, to work on underwriting and rating research topics, including catastrophe models and non-traditional rating plans. Just prior to joining the Louisiana Department of Insurance, he spent eight years with Syntelligence, Inc. in Mountain View, California, where he was part of the team that built expert systems for commercial underwriting of Fire, Workers’ Compensation, General Liability and Property lines of business.

He is a member of the Casualty Actuarial Society and the American Academy of Actuaries.


Panelist

John Pruitt
Co-Head, Global Insurance
Eversheds-Sutherland

 

John Pruitt guides insurance companies in every aspect of their business—from responding to regulatory inquiries to developing new companies or buying and selling existing ones. In more than 25 years of private practice, John has advised property and casualty and life insurance clients on regulatory compliance, acquisitions, dispositions and restructurings. He counsels clients with governance, licensing, financial and market conduct examination and Insurance Holding Company Act matters. He also drafts, advises and negotiates reinsurance contracts and insurance policies.


Panelist

James Lynch, FCAS, MAAA
Chief Actuary & Vice President of Research and Education
Insurance Information Institute

 

James Lynch is chief actuary and vice president of research and education at the Insurance Information Institute. He joined the I.I.I. in 2014.

Jim has more than 20 years of experience in property/casualty insurance, including executive positions at QBE the Americas and White Mountains Reinsurance of America. Before working in insurance, Jim was a journalist, spending seven years at The Miami Herald. He is a fellow of the Casualty Actuarial Society and serves on its board of directors. He is a member of the American Academy of Actuaries.


Continuing Education

ARIAS•U.S. Arbitrator Certification:
This webinar is eligible for 1/3 of a credit toward initial certification or renewal. For certification candidates, attendance at three live webinars will provide one credit toward Option C requirements. For ARIAS·U.S. Certified Arbitrators, attendance at three live webinars will satisfy the seminar attendance requirement for renewal. Click here for more information.

CLE Credit: ARIAS·U.S. is an accredited provider of New York State Continuing Legal Education training – 1.5 CLE credits are available to those who attend this webinar; all credits are for areas of professional practice.


Financial Hardship Policy

Financial Hardship Policy Statement: As required by the New York and Illinois CLE Boards, if a member of the state’s bar would like to attend an ARIAS•U.S. conference, but finds that he or she would incur a financial hardship by doing so, an application for waiver of the attendance fee may be made to the Board of Directors of ARIAS•U.S. Such application would be held in strict confidence.