Analytics for Insurance
Actuaries have established over a century’s worth of statistical models and best practice which have proved instrumental in shaping the insurance business model and packaging risk as a commercial product. However, the disruption brought on by technology and computing has resulted in an accumulation of data which can expand the remit of analytics beyond actuarial science to better enable underwriting, risk management, optimize customer personalization and enterprise wide decision-making. But shifting the cultural mind-set and overcoming legacy systems inherently associated with this industry is by no means an easy feat.
The Analytics for Insurance Focus Day will bring together analytics leaders from this industry to share best practices and demonstrate how analytics is revolutionizing the insurance business model.
For Actuaries an analytical mind-set has been one of the core skills needed to succeed, leveraging advanced statistical models and aggregation models to calculate risk for underwriting. However, with advances made in technology, data science and the granularity which can be provided to personalize pricing, underwriting and claims, how can Actuaries leverage this information to… Read more.Speaking
Keynote Presentation: Measuring the impact of mature analytics on the fundamental Insurance business model
There remain many case studies and use cases of analytics within insurance but what ultimate effect will this have on today’s traditional model of insurance? Defining the road-map, including the capabilities needed to succeed in the insurance model of tomorrow. Evaluate trends in analytics-as-a-service and discuss the importance of analytics in driving new products/services within… Read more.Speaking
Keynote Presentation: Positioning your business in the “Age of Innovation” and managing the insurtech boom
How can you engage with the Insurtech community and what are the major risks? Lessons learned from the AIG Canada Innovation Challenge. How to align internal engagement and innovation. Results from AIG Canada’s Innovation Challenge – reviewing the finalists and what made them stand out.Speaking
Panel Discussion: Analytics innovation – an enabler to challenge and disrupt the traditional insurance model
Challenging information asymmetry regarding analytics and aligning key business stakeholders, including Data Scientists and Actuaries. Evaluate how to establish the business benefits of analytics in supporting all areas of the business including underwriting, product management, claims and actuarial. Potential to disrupt operational efficiency, product innovation and customer relationship.Speaking
Evolving the traditional means for underwriting and embracing a technological, data-driven approach for greater granularity. Examine how to position actuaries and data scientists to optimize underwriting activities. Opportunities for predictive and prescriptive analytics to better improve efficiency and effectiveness of underwriting operations.Speaking
Before you can execute any data-oriented project, you must know what data you have and where it is located. Find out how to lift the data fog so business users can convert data into actionable business intelligence. Learn how Waterline Data insurance customers use a data catalog to make their data known and accessible, while… Read more.Speaking
Roadmap is based on an analytics vision for the future and the benefit of knowing what analytics to prioritize. How to integrate a flexible technology solution to support an analytics vision. Roadmap phases should not stop ongoing initiatives, rather provide a methodical approach to transforming the analytics culture. Roadmap implementation should be consistently re-visited as… Read more.Speaking
What are the regulatory concerns with the use of big data analytics and new technologies within insurance. How are regulators looking at them? Utilizing analytics to improve marketing outcomes through consumer granularity and micro-segmentation. Third party data, pitfalls and how did you go through the journey? How do you align your strategy across state-to-state regulation… Read more.Speaking
Associate Chief Medical Informatics Officer & Assistant Professor - UT Southwestern Medical Center
Keynote Presentation: Strategies for attracting, retaining and nurturing analytical talent into insurance
Evaluating the characteristics needed to develop a successful analytics team in insurance. Examining the skills marketplace. What can be done to remain competitive and ensure analytics professionals are interested in joining insurance?Speaking
Do you have valuable data to create an effective analytics programme? Is the data ready to use? How can you demonstrate potential ROI of dark data initiatives and subsequent securing of investment. Shifting from reactive to proactive! Is your data fit for purpose?Speaking
Keynote Presentation: Defining the vision forward and leveraging Data Science to improve claims decision-making
Understand the potential of data science in improving claims process efficiency by shortening claims cycles and intervene at key decision points. Assessing the power of data science in better minimizing the impact of macro-pressures on claims and maximize reserve management. Evaluating the challenges in data collection in a world of increasing data availability. Review crossover… Read more.Speaking
Keynote Presentation: Unleashing the potential value of your customer data – engaging and retaining customers using analytics
Connecting the dots – joining disparate pieces of customer information and leveraging external sources to build a 360 view of the customer and optimize business outcomes such as: engagement, acquisition, risk profiling and claims and underwriting. Using advanced analytics and consumer retention modelling to better understand, measure and change consumer behavior.
A comprehensive review of the emerging trends in cloud data analytics and cognitive computing and opportunities to offer deeper insights into fast-changing customer behavior and market patterns. Discuss the architecture needed today to need to succeed in a cloud-based future. Assess the implication of cloud analytics on traditional insurance models and overcoming legacy systems.
Panel Discussion: Building your analytical capability in support of IoT – Future predictions & present preparation
Provide a platform of discourse for a holistic creative discussion on how analytics can capitalize on the wave of IoT disruption in the insurance value chain. Assess the varied effects on different lines of insurance, including P&C, Life and Motor Insurance. Learning to walk before you run –what preparations can be made now to leverage… Read more.Speaking