We will have our next WTASA meeting next week on Thursday, March 06 at 3 P.M.. More details are provided below. Please forward to those whom you think may be interested in attending.
Date: Thursday, March 06, 2014
Place: Conference Room 400 at Preventive Medicine of UTHSC on 66 N. Pauline Street.
3:00 P.M.-3:15 P.M.-Welcome
3:15 P.M.-4:15 P.M.-Speaker of the Day: We are honored to have a guest speaker, Hongyuan Wang of AutoZone. His title and abstract are provide below
Title: Estimating Attrition Using Survival Analysis
Retention is an important factor that impacts both profit and growth of insurance companies. Conventional retention analysis, such as logistic regression, does not distinguish two types of attritions: mid-term cancellation and end-term nonrenewal. In this presentation, We propose to use survival analysis to estimate attrition and retention. Compared with conventional methods, the approach has three advantages: 1) it addresses not only whether the policy will leave but also when it will leave; 2) it analyzes mid-term cancellation and end-term nonrenewal sequentially, and therefore provides a dynamic insight of retention, which improves the static view derived from snapshot data; 3) it can take into account time-varying macroeconomic variables, and would help researchers to understand how insurance retention is impacted by the broader economic environments. A case study illustrates the technique from creating the panel data required by survival analysis to interpreting the model results.
4:15 P.M.-4:30 P.M.-Discussions and Future WTASA activities
We look forward to seeing you among us.
Mehmet Kocak, Ph.D., Assistant Professor of Biostatistics, Elected President
Fridtjof Thomas, Associate Professor of Biostatistics, Elected Vice-President