Description: 1) Vision of the applications and development of data analytics in life insurance industry in Asia; 2) How big is the pie and what are the current obstacles insurers are facing; 3) Utilization of data and analytics target operating models as a competitive advantage, with focus on future readiness, controls, efficiency and effectiveness; 4) Potential roadmap ahead: a) Assessment of the current state of maturity levels of data and analytics initiatives; b) Identification of technology and competency gaps; c) Establishment of data integration and management process within BUs, alignment of advanced analytics tools across departments, with centralized data governance, technology structure and decision making framework; d) Definition of criteria and metrics to measure key outcomes and business value added. 5) Case study on agency behavior management: a practical example on how data analytics is being used in practice: (a) key business objectives: improve agent behaviors and maximize productivity with the lowest possible compensation costs; (b) data collection and current state assessment; (c) detailed predictive modeling process, modeling outcomes, and business implications; (d) implementation and monitoring process.

Description: While medical and pharmacy claims data is a well-established source for healthcare analytics, significant data can be found elsewhere in electronic medical records (EMRs) and in hospital admit, discharge, and transfer (ADT) messages. Increasing availability of bulk EMR data to analyze coupled with more powerful and specialized tools for analyzing it presents an opportunity for actuaries to incorporate these sources in their work. This session will take a look at some of the data available beyond claims in EMRs and HL7 ADT messages, and will discuss case studies, with consideration around structure, ease of use, cleanliness, and tools available for analyzing these data types including natural language processing.

Description: "Visual storytelling is frequently used to effectively convey complex actuarial concepts to our clients and other audiences. When talking about data visualization, we often focus on the explanatory aspect. But data visualization is also a crucial tool in developing insights from large and complex data sets at every stage of data analytics spectrum: • descriptive (what happened?), • diagnostic (why it happened?), • predictive (what will happen?), • and prescriptive (how do I influence what will happen?). In exploratory and modeling stages of data analytics’ project, we let the data tell the story or explore our intuition and hypothesis through data pictures. We demonstrate the power of visual display in healthcare data analytics through vivid examples from the healthcare case studies. These illustrations of data visualization exploratory power range from assessing the quality of data or examining outliers, to exploring variables’ relationships and trends, to hypothesis testing, to guiding in feature selection and models’ comparison and evaluation, to model validation. Throughout these illustrations, we will discuss principles of graphical effectiveness, excellence and integrity."

Description: A discussion of techniques that can help manage model risk and complexity.

Description: Global megatrends in technology are disrupting the life insurance industry.

Description: Recent and pending changes in financial reporting standards and regulations such as IFRS 17 and US GAAP Targeted Improvements are ramping up the performance pressures on actuarial models. New infrastructure technology in the cloud is driving modeling options that may well help actuaries successfully and economically meet these challenges and unlock even greater transformational change.

Description: During the2019 InsureTech Connect conference in Las Vegas, the Society of Actuaries (SOA) and Plug and Play today announced the two organizations are nearing an agreement on professional development offerings and learning opportunities. The SOA and Plug and Play plan to work together on a variety of InsurTech-focused events and projects for the SOA membership, insurance industry and technology sector.

Description: The popular press plays an important role in public perception regarding automated vehicles. In contrast to the excitement generated two to three years ago, we are now in a period of “reverse hype” with most articles focused on the slow pace of development and concerns regarding possible negative impacts on traffic congestion and growth of suburbs. To help describe current trends and highlight differences between the cars we see on the street today and driverless vehicles, this report relies on three market-related definitions; safe, self-driving and driverless.