Description: Actuarial Process Optimization (APO) is a technology-focused methodology for bringing together actuarial and technology teams to critically examine and optimize actuarial processes, specifically targeting processes that are most time consuming and have the highest risk of failure. From claims analytics to valuation and experience analysis, modern technology can help actuaries optimize their time and focus their attention on higher value tasks. In this session, we will explore opportunities for APO in the Health insurance industry and demonstrate how technology can be used to improve the actuarial process using an agile and targeted approach.

Description: 2021 ImpACT Conference -Session 10A: Building Academic-Industry Research Partnerships 10.28.21 Recording

Description: 2021 ImpACT Conference - Session 10B: Keeping Customers Engaged with Proactive Recommendation of Insurance Portfolio 10.28.21 Recording

Description: 2021 ImpACT Conference -Insurtech Actuaries: How Did I Get Here and Where Next? Recording

Description: 2021 ImpACT Conference -Session 8C: Insurance For the Next 100 Million 10.27.21 Recording

Description: 2021 ImpACT Conference - Session 12E: AITSC Present II – Actuarial Innovation and Technology Research Roundtable 10.29.21 Recording

Description: Interview on opportunities for InsurTechs in Life and Health reinsurance. Themes covered include digital distribution and digital health data. The article also shares insights into the role of the reinsurer when working with InsurTechs.

Description: New digital data known as alternative data is everywhere. Our industry has seen the financial, and hi-tech industries leverage new digital data to expand their key offerings and core services. From the lens of the global life and health industry, new digital data is still searching to be further understood. Risk assessment is a current focus area for using alternative data. A key question is even though risk assessment has always been data-driven, can it now move to the next level with the arrival of this alternative data. Can we use alternative data to make the risk assessment process quicker, cheaper, or faster thereby driving more sales and better conversion rates. It is an exciting time! With the increased adoption of health and well-being apps, data such as physical activity, nutrition, sleep, and mental wellness is now readily available. Expanded data such as digital biomarkers, IoT data, electronic health records and many more can also be accessed. However, how to effectively implement alternative data remains a challenge across the industry. We firmly believe it is, and will continue to be, imperative to take a structured approach to alternative data through a set of key considerations and a framework of principles.

Description: Innovation in technology is being leveraged throughout the entire customer journey. The presenters will focus on solutions that affect both the client experience, the productivity of the agent and the efficiency of the life company. Some InsurTech companies that have developed solutions across the value chain - beginning with front-end solutions to improve the productivity and expertise of agents. These include cloud-based product illustration, advanced sales concept systems, financial calculators, e-applications and e-signature technology. Solutions that improve the efficiency of policy underwriting and issue include automated underwriting systems, expert requirement systems and underwriter workbenches. Finally, solutions that automate inforce policy management and compliance include anti-money laundering AI systems, in-force illustration systems to satisfy annual statement compliance and claims processing systems. There is a race to gain competitive advantage by getting to a digitally transformed future first.