Household Business Working Party report

Document description

This paper describes various aspects of the UK household insurance market during 1997 and some of the actuarial considerations arising therefrom. Its purpose is mainly documentary and as such it should not contain too much material that is unfamiliar to an experienced practitioner. For part-qualified actuaries, however, or for actuaries working in areas other than household insurance, the paper may provide an easily-digestible introduction to current issues. The working party make no apology for having concentrated on those aspects of UK household business that interest them most. In particular, the paper's emphasis is on pricing rather than reserving issues. Particular consideration is given to the increasing use in pricing of external datasets, and the related trend towards classifying risks to a finer level of detail.