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Course in Risk-Based Pricing Models

300-hour online course in risk-based pricing models. 6 modules covering Law 20/2015 (LOSSEAR, premium sufficiency), Delegated Regulation (EU) 2017/2358 (product governance, POG) and Akur8. Assigned tutor and open enrolment.

Duration300 h
ModeHybrid
LanguageEnglish / Spanish
Start datesOctober / March
LocationEurope (Madrid)
AwardSEIUM Institute diploma
Enrol now View syllabus Ask an advisor
Virtual lab · try it before you enrol

Take the controls.

Run a real engineering trade-off from this programme. Move the sliders, watch the model react in real time and beat the challenge.

SIM · LIVE ●
Learning outcomes

What you will be able to do

01

Explain the principles of risk-based pricing.

02

Build a technical tariff from frequency and severity.

03

Incorporate costs, margins and sufficiency criteria.

04

Model demand, conversion and renewal.

05

Apply responsible and non-discriminatory segmentation.

06

Implement and monitor the tariff in production.

07

Develop a complete pricing strategy in a final project.

Profile

Who it's for

  • Pricing actuary who wants to specialise in risk-based pricing models.
  • Commercial pricing analyst who wants to specialise in risk-based pricing models.
  • Tariff manager who wants to specialise in risk-based pricing models.
  • Pricing data scientist who wants to specialise in risk-based pricing models.
  • Non-life insurance product manager who wants to specialise in risk-based pricing models.
  • Pricing consultant who wants to specialise in risk-based pricing models.
  • Engineering or science graduates seeking to enter non-life insurers.
Standards & tools

What you'll work with

  • Law 20/2015 (LOSSEAR, premium sufficiency)
  • Delegated Regulation (EU) 2017/2358 (product governance, POG)
  • ASOP No. 12 (risk classification)
  • Directive 2004/113/EC (equal treatment)
  • EIOPA supervisory statement on differential pricing practices (2023)
  • Law 15/2022 (equal treatment and non-discrimination)
Syllabus

6 modules · 300 h

  1. 1.1What it means for price to reflect risk
  2. 1.2Technical premium, commercial premium and final price
  3. 1.3Actuarial fairness and mutualisation
  4. 1.4Segmentation: benefits and social cost
  5. 1.5An insurer's price review cycle
  6. 1.6Process participants and their incentives
  7. 1.7Technical, commercial and regulatory constraints
  8. 1.8Indicators that measure pricing quality
  9. 1.9Documentation of the pricing process
  10. 1.10Workshop: diagnosis of an insurer's pricing process
  1. 2.1Experience base and its cleansing
  2. 2.2Frequency and severity models by cover
  3. 2.3Treatment of large and catastrophic claims
  4. 2.4Trend, inflation and experience levelling
  5. 2.5Tariff factors and their multiplicative structure
  6. 2.6Interactions and specific risk segments
  7. 2.7Credibility and factor smoothing
  8. 2.8Validation of the technical tariff
  9. 2.9Factor table and its implementation
  10. 2.10Practice: building a technical tariff
  1. 3.1Acquisition and administration expenses
  2. 3.2Allocating expenses to product and segment
  3. 3.3Reinsurance cost and its distribution
  4. 3.4Cost of capital and required return
  5. 3.5Safety loading and technical margin
  6. 3.6Target rate and sufficiency analysis
  7. 3.7Sensitivity of results to loss ratio
  8. 3.8Technically defensible minimum price
  9. 3.9Effect of instalments and taxes
  10. 3.10Practice: moving from technical premium to target price
  1. 4.1Price elasticity and its estimation
  2. 4.2Conversion by channel and by segment
  3. 4.3Renewal: increase applied and accepted
  4. 4.4Retention models and their use
  5. 4.5Price optimisation and its ethical limits
  6. 4.6Pricing practices questioned by the supervisor
  7. 4.7Pricing for new and existing customers
  8. 4.8Price transparency and communication
  9. 4.9Controlled tests and control groups
  10. 4.10Practice: simulating a tariff change
  1. 5.1Permitted, prohibited and debatable variables
  2. 5.2Indirect proxies for protected attributes
  3. 5.3Impact analysis by customer group
  4. 5.4Segmentation granularity and its risks
  5. 5.5Effect of segmentation on affordability
  6. 5.6Excluded groups and possible responses
  7. 5.7Documentation of segmentation decisions
  8. 5.8Explaining the price to the customer
  9. 5.9Ethical review of the tariff
  10. 5.10Practice: reviewing a segmentation structure
  1. 6.1Implementing the tariff in the pricing engine
  2. 6.2Recalculation and reconciliation testing
  3. 6.3Phased rollout and impact control
  4. 6.4Monthly monitoring of price and portfolio mix
  5. 6.5Technical deterioration alerts
  6. 6.6Periodic review and extraordinary triggers
  7. 6.7Pricing governance and responsible committee
  8. 6.8Documentation for the supervisor
  9. 6.9Common pricing errors
  10. 6.10Final project: full price review of a product
Methodology, software & labs

How you'll learn

100 % online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. No fixed timetables: students progress at their own pace within the intake, which makes it possible to combine study with work.

Each module combines theory, guided reading of the original standard and applied exercises. The working software is Akur8, Radar (WTW), Earnix, R, advanced Excel, in free, academic or evaluation versions. Case studies are based on real procedures for building technical tariffs, conversion and renewal models, and premium sufficiency analysis. Assessment is continuous by module, plus the final integrating project.

Accreditable laboratories(EN ISO/IEC 17025) with a rotor test rig, EMC/Lightning pre-compliance, HIL/SIL, vibration/acoustics.
Evidence-oriented Master's Thesis:safety case, test plan, compliance dossier and operational limits.
Industry-led mentoring:teaching staff with experience in training, , eVTOL/UAM and flight test.
Flexible format(hybrid/online), international cohorts and support from SEIUM Career Services.
Ethics and safety:a safety-by-design approach, with ciber-OT, DIH and compliance as its pillars.
Capstone project

Build it end to end

Your final project follows the real engineering workflow, step by step, reviewed by your tutor.

Implementing the tariff in the pricing engine

Explain the principles of risk-based pricing.

Recalculation and reconciliation testing

Build a technical tariff from frequency and severity.

Phased rollout and impact control

Incorporate costs, margins and sufficiency criteria.

Monthly monitoring of price and portfolio mix

Model demand, conversion and renewal.

Technical deterioration alerts

Apply responsible and non-discriminatory segmentation.

Career opportunities

Where this takes you

Pricing actuaryCommercial pricing analystTariff managerPricing data scientistNon-life insurance product managerPricing consultant
Admissions & scholarships

Requirements

  • No prior qualification is required.
  • An internet connection and a computer capable of running the programme's software.
  • Sufficient Spanish to follow technical regulatory texts.

Ready to start?

Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.

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FAQ

Frequently asked questions

The programme comprises 300 hours in total, spread over 3 to 5 months. That is an average of between 10 and 15 hours per week, compatible with a full-time job.

You will work with Akur8, Radar (WTW), Earnix, R and advanced Excel. Free, academic or evaluation versions are used, and the tutor indicates the free alternative where one exists.

A SEIUM diploma upon passing the continuous assessment and the integrating project. It is in-house training, not an official qualification from the Ministry.

Yes. Modules passed in a course or postgraduate diploma in the same area are recognised towards the higher-level programme. Please check the recognition policy when you enrol.

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