A new start up is looking to ‘disrupt’ the French motor insurance market with a clever app and a new type of AI. Their investors are keen to benchmark their pricing algorithm to the French market and in that regard, they seek your help. a. Using the large dataset recovered from a French insurance market, you are to devise models to model frequency, and severity. (30%) b. Comment on the key rating variables that drive premium and form your own pricing models for different ages. (30%) c. Discuss alternative machine learning algorithms that can be used in general insurance when evaluating non-life risk. Provide current examples used in the industry. (20%) d. Can any of the ones discussed in (c) be used in association with the techniques used in pricing risk to enhance your rating approach? Discuss and compare one alternative to the standard non-linear methods used. (15%)