General Insurance news and articles written by acturies for actuaries - read the latest research pieces, today's news and latest articles in the non-life market.

Data Scientist vs Actuary

By Tony Ward, Director, StatCore
That makes sense. The role of an actuary requires creative thinking, problem formulation, communication skills, judgement, a moral code and domain knowledge. All which are hard to automate. Don’t get too comfortable though….
Will a data scientist take my job in the next two decades?
Almost certainly – and probably much sooner than expected in areas where predictive modelling is the dominant skill e.g. personal lines pricing and marketing. The shift towards data science has been recognised in the US with the Casualty Actuarial Society (CAS) introducing a speciality credential in data science. The transition is also underway in the UK with several insurers starting up specialist “data science” teams. Machine learning – a trademark skill of a data scientist will soon become the preferred method of building predictive models. Point and click Generalised Linear Modelling (GLM) – the current industry standard – will become the “old way of doing things”.
 
Hang on, aren’t actuaries the ...Read More

Cloudy with a chance of Robots

By Nick Corrie, Solvexia
 
Examples include Netflix v Blockbuster, Amazon v traditional bookstores, Uber v Taxis, AirBnB v Hotels. Is insurance immune from this wave of innovation? That would be wishful thinking.
 
To understand why let’s investigate the enablers of these disruptive forces: connectivity and cloud computing.
 
In 2015 there were 3.2 billion people worldwide connected to the internet, compared to less than 500 million in 2007. This is just a count of the internet of people but if you count the internet of things, Ga...Read More

Does your insurer WhatsApp you?

By Ben Bengtson, Senior Vice President, Global Insurance Leader, Cognizant

Messaging apps build customer loyalty by providing an interpersonal transaction and demystifying the traditional back office-processing. Effectively, mobile messaging can become the tool of new-age distribution, digital marketing, after-sales service and customer support. In fact, what was first recognised by entrepreneurs as an inexpensive way for businesses to stay connected with their customers has become a medium of choice for some big players. For instance, Dutch insurer Ditzo is partnering with WhatsApp for claims, allowing customers to ask questions ...Read More

"Generation Lost" speaks - Global Risks Report 2014

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Lifestyle Actuary

The trappings of fast paced city lifestyles rarely take into account the charm and elegance that a room, a dinner or a cup of tea can afford; characteristics lost to a by-gone era of debutante balls and black tie for dinner.

The Luddite

Sam Richardson looks into the up and coming and the outgoing of the technology and gadgetry world in 2014.

Travelling Actuary

This month's Travelling Actuary takes us to the iconic Boston to experience New England at it’s very best.

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