SAS Dynamic Actuarial Modeling
A complete, end-to-end pricing solution with innovative, AI-based premium modeling.
Reduce silos, automate processes and facilitate cross-departmental collaboration among actuaries, finance and IT.
A comprehensive approach to pricing transformation.
Insurance technologies and revenues have changed considerably in recent years. To stay ahead of this evolution, insurers must optimize every area of the business. This is particularly true for the pricing process, which directly impacts your profitability, brand reputation, market penetration and growth. SAS Dynamic Actuarial Modeling simplifies and speeds up premium creation and maintenance processes, ensuring that they are well-governed, traceable and easily summarized in comprehensive reports.
Price execution and governance capabilities that ensure your price is delivered to the market as it is intended to be.
SAS provides sophisticated modeling capabilities, including explainable machine learning models. This makes modeling more accessible for actuaries by giving them a choice of models and providing guidance throughout the pricing process.
Consistently apply GLMs/GAMs to risks using embedded AI capabilities.
As data becomes more abundant, our solution enables you to capture most heterogeneity represented by the complexity of your entire portfolio and compute premiums that represent individual risks in a tailor-made way, thus producing more competitive rates.
Key Features
SAS provides software and services to enable a guided and governed actuarial process – from data preparation and modeling to automatic deployment and firmwide integrated reporting.
Interactive grouping node
Helps users modify and group continuous variables in a simple, intuitive way.
Rate-making node – sophisticated modeling capabilities
Includes explainable machine learning models. Makes modeling more accessible for actuaries by giving them a choice of models and guidance throughout the pricing process.
Flexible model options
Includes open-source models, models developed in Python or R, or models prebuilt for the firm.
Post-modeling modification of premium modeling parameters
Provides actuaries with a rate-making feature that enables controlled and traceable post-modeling modification of premium modeling parameters while accounting for risk factors.
Optimization capabilities
Lets you simulate renewal pricing scenarios and see the impact in the current portfolio profitability. Speeds decision making with a user-friendly interface for adding constraints and configuring the objective function, along with a visual reporting interface for exploring scenarios and making the data transparent.
Automatic deployment
Enables one-click porting of models to production, both online and in batch mode.
Guided & governed actuarial process
Spans data preparation, modeling, automatic deployment and firmwide integrated reporting.
Self-contained premium modeling process
Speeds deployment and provides full traceability with a single, self-contained tool that spans the entire premium modeling process – including interactive modeling, post-modeling and premium rate implementation.
Explore More on SAS Dynamic Actuarial Modeling and Beyond
White Paper
How to compete in the new era of customer-centric insurance
Learn how you can adopt an agile pricing strategy that recognizes changing behavior and risk profiles.
Solution Brief
Take charge of insurance pricing with advanced analytics
Discover how to drive higher profitability by speeding and improving the pricing process.
Technical Paper
Applying Quantile Regression to Ratemaking: A Measured Approach
Explore the findings of a study focused on the insurance ratemaking process, specifically on modeling the frequency of claims, with an emphasis on incorporating telematics information in automobile insurance data.
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