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Mark Brown from WTW looks at the real world impact of artificial intelligence within the actuarial and financial reporting landscape. Life and health insurers today face a complex balancing act. Product portfolios continue to grow in sophistication, regulations intensify, and financial reporting teams are under unprecedented pressure to produce fast, accurate, and explainable results. At the same time, operational costs and talent pressures remain stubbornly high. Against this backdrop, artificial intelligence has rapidly moved from a talking point to a transformational force.
With no real end in sight to the conflict in the Middle East, despite numerous ceasefires, ultimatums, blockades and opening and closing of the Strait of Hormuz, prices continue to rise. With Brent Crude up to $112 a barrel at one stage and the subsequent jump in prices at the pump, it comes as little surprise that BP doubled their profits for the first quarter to $3.2 billion, there are some winners from the conflict it seems. This month’s cover story comes from Anna Rogers, founder of Arc Pensions Law examining the Virgin Media fix a legal and actuarial double act.