Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Property - Casualty / General Insurance
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions

DW Simpson Global Actuarial & Analytics Recruitment
Download our Actuarial Salary Survey
now with state-by-state salary information!


Reply
 
Thread Tools Search this Thread Display Modes
  #1  
Old 06-13-2019, 11:22 AM
theBrownsAreComing's Avatar
theBrownsAreComing theBrownsAreComing is offline
Member
CAS
 
Join Date: Jun 2018
Posts: 111
Default We LOWERED rates in a state by 4%, and overnight our conversion dropped 9%. WTF

Smart people who know more than me, based on the absolute lack of information I've given you, what are your hypothesis as to how lowering rates can cause an overnight conversion drop?

I was trying to convince myself that everyone ran out of tax refund money the day our rates changed, but that seems unlikely.
__________________
GPODAWUND

P FM JOB IFM MAS1
ECON OC1
Reply With Quote
  #2  
Old 06-13-2019, 11:25 AM
Moderator1 Moderator1 is offline
Moderator
 
Join Date: Sep 2001
Posts: 17,175
Default

Speaking of lack of information, does your post have anything at all to do with the forum you put it in (Careers - Employment)?
Reply With Quote
  #3  
Old 06-13-2019, 11:28 AM
Meepo's Avatar
Meepo Meepo is offline
Member
SOA
 
Join Date: Mar 2014
Location: Here In My garage
Studying for Undecided
College: University of Phoenix
Posts: 257
Default

Quote:
Originally Posted by Moderator1 View Post
Speaking of lack of information, does your post have anything at all to do with the forum you put it in (Careers - Employment)?
boom roasted
__________________
P FM MFE C LTAM PA The Rest
Meepo is love, Meepo is life.
Reply With Quote
  #4  
Old 06-13-2019, 11:33 AM
#Hawaii2019 #Hawaii2019 is offline
Member
CAS
 
Join Date: Sep 2017
Studying for Hawaii
Posts: 1,167
Default

Quote:
Originally Posted by theBrownsAreComing View Post
Smart people who know more than me, based on the absolute lack of information I've given you, what are your hypothesis as to how lowering rates can cause an overnight conversion drop?

I was trying to convince myself that everyone ran out of tax refund money the day our rates changed, but that seems unlikely.
how much data are you looking at? is a 4% rate decrease the only change you made? is it a base rate decrease (4% to all policies), or an estimated 4% overall change, where some policies are increasing, and some are decreasing?
Reply With Quote
  #5  
Old 06-13-2019, 11:35 AM
#Hawaii2019 #Hawaii2019 is offline
Member
CAS
 
Join Date: Sep 2017
Studying for Hawaii
Posts: 1,167
Default

Quote:
Originally Posted by #Hawaii2019 View Post
how much data are you looking at?
since you say "overnight" I assume you're looking at a day or two worth of quotes. I would guess this isn't a credible amount
Reply With Quote
  #6  
Old 06-13-2019, 11:41 AM
Chuck Chuck is offline
Member
SOA AAA
 
Join Date: Oct 2001
Location: Illinois
Posts: 4,980
Default

I have no idea what kind of business you are talking about - but if there was advanced notice that a change was coming, this could be due to distribution holding off on submitting applications until the change was announced/implemented and perhaps there is a lag in the new rates getting disseminated and the apps being submitted - so you may be seeing the drop just prior to implementation?
Reply With Quote
  #7  
Old 06-13-2019, 11:49 AM
mathmajor's Avatar
mathmajor mathmajor is offline
Member
SOA AAA
 
Join Date: Dec 2010
Location: Nowhere in particular
Studying for Japanese
College: B.S. Applied Math
Favorite beer: La Croix Grapefruit
Posts: 12,100
Default

Take more exams and get back to us
__________________
Quote:
Originally Posted by redprinceton
YOU ARE AN EXCEPTIONAL PERSON MATHMAJOR!
Reply With Quote
  #8  
Old 06-13-2019, 12:08 PM
theBrownsAreComing's Avatar
theBrownsAreComing theBrownsAreComing is offline
Member
CAS
 
Join Date: Jun 2018
Posts: 111
Default

Quote:
Originally Posted by #Hawaii2019 View Post
how much data are you looking at? is a 4% rate decrease the only change you made? is it a base rate decrease (4% to all policies), or an estimated 4% overall change, where some policies are increasing, and some are decreasing?
Overall 4% decrease with some going up, some going down. We're seeing the conversion drop only in NB obviously.

Quote:
Originally Posted by #Hawaii2019 View Post
since you say "overnight" I assume you're looking at a day or two worth of quotes. I would guess this isn't a credible amount
.... I should have thought of this.

Quote:
Originally Posted by Chuck View Post
I have no idea what kind of business you are talking about - but if there was advanced notice that a change was coming, this could be due to distribution holding off on submitting applications until the change was announced/implemented and perhaps there is a lag in the new rates getting disseminated and the apps being submitted - so you may be seeing the drop just prior to implementation?
It's private personal auto, but this is definitely something to ponder.

Quote:
Originally Posted by Moderator1 View Post
Speaking of lack of information, does your post have anything at all to do with the forum you put it in (Careers - Employment)?
My boss said I will get fired if I don't figure this out by the end of the day, so it's sort of career related. This is the most active board also so I posted it here.
__________________
GPODAWUND

P FM JOB IFM MAS1
ECON OC1
Reply With Quote
  #9  
Old 06-13-2019, 12:15 PM
fdsafdsa's Avatar
fdsafdsa fdsafdsa is offline
Member
SOA
 
Join Date: Mar 2018
Posts: 4,543
Default

Contact site sponsor if your boss ever ends a statement with "or else you'll get fired".
__________________
If your grandfather starting raving about buying countries and being the chosen one, at the barest minimum you'd confiscate his car keys.
Reply With Quote
  #10  
Old 06-13-2019, 01:04 PM
yoyo's Avatar
yoyo yoyo is offline
Member
CAS
 
Join Date: Dec 2001
Posts: 24,870
Default

Quote:
Originally Posted by mathmajor View Post
Take Pass more exams and get back to us
fyp?

Quote:
Originally Posted by fdsafdsa View Post
Contact site sponsor if your boss ever ends a statement with "or else you'll get fired".
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 09:37 PM.


Powered by vBulletin®
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.43185 seconds with 9 queries