Shayan Sen
Cooperate Consulting
Shayan is an experienced actuary with a unique blend of pricing expertise. He is an Associate of the Casualty Actuarial Society (ACAS) and has a PhD in mathematics from Cornell University. He is Chair of the Canadian Institute of Actuaries (CIA) P&C Practice Committee.
Selected Experience
Pricing Checkups
Large national insurer: met with pricing stakeholders including systems team to understand current approach to pricing; recommended changes that would improve profitability and align with industry modeling best practices
Small Ontario mutual: met with pricing stakeholders including business development and underwriting teams to understand current approach to pricing; recommended changes that would improve pricing accuracy and enable better decision making through improved portfolio monitoring
Pricing New Products
Flood insurance: developed national pricing for first-in-Canada residential flood insurance product; peer-reviewed pricing for proposed new federal government flood insurance program for homes in high-risk flood zones
Auto endorsements: developed pricing for first-in-Canada personal lines endorsements including minor conviction waiver and rideshare coverage
Rate Filings
Submitted numerous rate filings including to introduce a new rating algorithm, new rating territories, auto reform, and telematics
Original Research
Practical pricing-related papers published in Variance, the peer-reviewed journal of the Casualty Actuarial Society. The insights from these papers can be used by P&C insurers to make better product and pricing decisions:
Prospect theory and the appeal of catastrophe bonds (April 2024): https://variancejournal.org/article/116786-prospect-theory-and-the-appeal-of-catastrophe-bonds
Euler allocation for performance measurement (November 2022): https://variancejournal.org/article/39642-euler-allocation-for-performance-measurement
Presentations
Presentations to actuarial, regulatory and academic audiences include:
Territory pricing considerations – Canadian Auto Rate Regulators Conference (CARR Symposium), Quebec City, September 2024. (PDF).
Small business insurance and ChatGPT – Ontario Actuarial Meeting (OCCA Fall Meeting), Toronto, November 2023.
Euler allocation for performance measurement – Risk and Insurance Studies Centre Industry Colloquium, Toronto, October 2023. (YouTube).
AI & Insurance – Zurich North America Actuarial Event, Schaumburg, Illinois, June 2023
Innovation and disruption in auto insurance: a pricing actuary’s perspective – Canadian Auto Rate Regulators Conference (CARR Symposium), Virtual Webinar, September 2022
Launch of overland water in Canada – Ontario Actuarial Conference (OCCA Spring Conference), Toronto, May 2015