Application of Data Analytics in Insurance
In the digital age, expectations for actuaries to provide greater business insights and value is increasing rapidly. What can actuaries do to live up to these expectations? What lessons can we learn from advances in "actuarial modernisation" in the United States recently and how can actuaries in Ireland adapt these?
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The presentation will cover areas of process modernisation needed to enable the application of advanced analytics techniques:
- Comprehensive data strategy and planning
- Getting timely and accurate data
- Process automation to increase "productive time"
- Structured training and upskilling
Case studies on real life projects will be presented focusing on areas where actuaries can contribute most, such
- Claims analytics and fraud detection
- Behavioural intervention models
- Customer segmentation
Senior life actuary in the Actuarial Services Group, Data Analytics Proposition Lead. A member of the Data Analytics Subcommittee of the Society of Actuaries in Ireland, with 16 years experience in life insurance and pensions across reporting, modelling and process transformation