Description: This article includes a description of robotic process automation as it relates to actuarial departments. Robotic process automation is becoming more prevalent in actuarial departments as different regulatory changes cause the processes to be more complex. As robotic process automation takes over more jobs, actuaries will have to enhance and evolve their skillsets to better complement the new tools. This article provides an introduction for actuaries to inform them what they should expect, and how they can adapt to these changes.

Description: Healthcare cost is increasing at 9.3% in Asia in 2017 and health insurance cost will eventually catch up, making healthcare unaffordable to aging populations. Inefficiency in healthcare system is a contributing factor. In this session, use cases on how AI is impacting the health insurance operations on 3 core challenges. Document processing: A lot of documents are generated in the healthcare ecosystem, medical reports, diagnosis, invoices etc. Currently most of the documents are still reviewed manually and rely heavily on users’ judgement. Customer engagement: Customers are generally under distress and feel rejected during the claim process. It is due to the time and process needed to get the information they look for, the gap between the sales and claims process, and the reimbursement amount. Claim settlements: Claim adjudication is a technical process that review the disease, treatment and policy coverage. The process is specific to disease and difficult to be generalized. Thus, the process is far from consistent and invites fraud, abuse and wastage in this area.

Description: Python has become the fastest-growing major programming language in the world. It has surged in popularity over the last decade, following the development of its industry-leading capabilities in data science, machine learning and artificial intelligence, and it is now one of the most globally popular and widely used languages. In this article, I discuss some of the reasons for its popularity and explain why many actuaries and insurers have started using Python.

Description: This article introduces IT DevOps to actuaries and how it is applicable to them to improve their modeling efforts and make them more efficient.

Description: As the insurance industry continues to evolve due to a pandemic and rapidly changing economic and regulatory conditions, the role of data scientists and actuaries has become increasingly important. In an interview with the Atidot data science and actuarial team, we discuss what it is like to work at an InsurTech, how data scientists and actuaries can collaborate, and look at some concrete technical examples of where the innovation is having an impact. This article explores what collaboration can look like and how the role of data science and actuary may evolve in the InsurTech industry in the future.

Description: Everyone loves efficiency. But what does it truly mean for something to be efficient? An actuary who has spent almost 20 years managing process improvements shares his experiences and the evolution of his views on efficiency. This parable highlights the broader aspects of efficiency that are often missed, and some of the challenges that can come from targeting a typical view of efficiency.

Description: Producing a crystal-clear balance roll-forward on time, obtaining a fresh model output the first time or providing model results for your business partners with a tight turnaround all depend on one thing: how fast the model engine runs. Authors explored various reasons behind significant computational power consumption, and discussed different ways to speed the computational process such as in-force population compression, model use case consolidation, code simplification and streamlining, and infrastructure automation, etc.