SCOR 选择定价和反选择定价.pdf

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1、SINGAPORE ACTUARIAL CONFERENCE 202426-29 August 2024Avoid filling this space with text,will not be seen by audiencePricing for Selection and Anti-SelectionBen RandallHead of Pricing,South EastAsiaSCOR27thAugust 2024SINGAPORE ACTUARIAL CONFERENCE 202426-29 August 2024Selection and Anti-SelectionINSUR

2、ERINSURERUnderwritingSum AssuredOther Selective ControlsSales ChannelPolicy WordingSINGAPORE ACTUARIAL CONFERENCE 202426-29 August 2024The Right BalanceThis presentation objectives:Inform&share Opine Developfor the Singapore actuarial communitySINGAPORE ACTUARIAL CONFERENCE 202426-29 August 2024Agen

3、da:Low concern examplesUnderwriting changes Medium concern/impactGender-neutral pricingEmbedding selective benefits Major concern/impactUS Post-Level Term Methodologies and strategies Looking to the future Question timeSINGAPORE ACTUARIAL CONFERENCE 202426-29 August 2024NML ChangeRisk meterNo/minor

4、market =deviationRisk meterRisk meterPriceable with low anti-selection riskMarket deviation =(first mover)Priceable with moderate anti-selection riskSINGAPORE ACTUARIAL CONFERENCE 202426-29 August 2024UW rating scale change-UK%mixExtra ratingBMI80%-=2813%-29-324%+50%33-342%+100%35-361%+150-300%37+%m

5、ixExtra ratingBMI80%-=2813%+25%29-324%+50%33-342%+100%35-361%+150-300%37+Expected gave 4.25%discountBefore%mixExtra ratingBMI87%-All forms of customers insurance now must be priced gender-neutralSINGAPORE ACTUARIAL CONFERENCE 202426-29 August 2024EU/UK gender-neutral pricingKey expected impacts for

6、UK life insuranceFACTORShock lapseFuture gendermixOUTCOMEWHY+2%lapses for lessthan 3 monthsNormalisedwithin 1 yearLevel premium structureShort time windowFew simple-issue productsCommission-clawback for advisersLack of comparabilityPurchase ismore needs-basedRisk meterRisk meterSINGAPORE ACTUARIAL C