Insurance Pricing & Rating Techniques Training Course

Course Overview

Learning Objectives

• By the end of the course, participants will be able to:
• Analyze the fundamental principles and components of insurance pricing.
• Evaluate exposure, claims, risk, expense, and profitability data used in rate development.
• Identify and assess appropriate rating factors for different insurance products.
• Apply different insurance rating techniques according to product and risk characteristics.
• Develop structured approaches for calculating insurance premiums and technical rates.
• Analyze claims frequency, severity, loss costs, and historical loss experience.
• Evaluate rate adequacy and identify potential underpricing or overpricing.
• Apply risk classification and segmentation techniques to differentiate premiums.
• Assess the impact of pricing decisions on underwriting results, retention, competitiveness, and profitability.
• Evaluate proposed rate changes using analytical, financial, and market considerations.
• Apply scenario and sensitivity analysis to assess pricing assumptions and outcomes.
• Establish pricing performance indicators and rate monitoring frameworks.
• Strengthen pricing governance, documentation, controls, and review processes.
• Develop practical pricing improvement initiatives aligned with business strategy and risk appetite.

Who Should Attend

Learning Outcomes

• Upon completion of the course, participants will be able to:
• Explain the fundamental principles of insurance pricing and rating.
• Identify the key components used to develop insurance rates and premiums.
• Evaluate exposure and claims data for pricing purposes.
• Identify relevant rating factors and assess their influence on insurance risk.
• Apply manual, class, schedule, experience, and risk-based rating techniques.
• Calculate and evaluate technical rates and insurance premiums.
• Analyze loss costs, expense provisions, commissions, contingencies, and profit margins.
• Assess pricing adequacy across products, customer segments, territories, and risk classes.
• Identify pricing deficiencies and recommend appropriate corrective actions.
• Evaluate the potential impact of rate changes on customers, retention, sales, and profitability.
• Apply scenario and sensitivity analysis to insurance pricing decisions.
• Develop pricing monitoring dashboards and key performance indicators.
• Strengthen pricing documentation, governance, controls, and review procedures.
• Integrate market competitiveness with technical pricing requirements.
• Develop an actionable insurance pricing and rating improvement plan.

Course Outline