Geographic ratemaking with spatial embeddings

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      <subfield code="a">Geographic ratemaking with spatial embeddings</subfield>
      <subfield code="c">Christopher Blier-Wong...[et.al]</subfield>
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      <subfield code="a">Spatial data are a rich source of information for actuarial applications: knowledge of a risk's location could improve an insurance company's ratemaking, reserving or risk management processes. Relying on historical geolocated loss data is problematic for areas where it is limited or unavailable. In this paper, we construct spatial embeddings within a complex convolutional neural network representation model using external census data and use them as inputs to a simple predictive model. Compared to spatial interpolation models, our approach leads to smaller predictive bias and reduced variance in most situations. This method also enables us to generate rates in territories with no historical experience.

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      <subfield code="g">03/01/2022 Volumen 52 Número 1 - enero 2022 , p. 1-31</subfield>
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      <subfield code="d">Belgium : ASTIN and AFIR Sections of the International Actuarial Association</subfield>
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