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ANSA 2018 - "Analytics-Driven Innovation at Economical Insurance"
2018-01-02
I'll be speaking at the 2018 Actuarial Students National Association (ASNA) conference, in Ottawa from January 5-7. The theme of the conference is "Breaking the Paradigm," so I'll be speaking about the innovative work that my colleagues and I have been engaged in. Here's the full abstract:
Economical Insurance, a medium-sized Property and Casualty insurer, is an industry leader in introducing technological innovations and deploying predictive analytics. In this presentation, I'll describe several ways in which Economical has broken traditional insurance paradigms. First, I'll tell you about Sonnet Insurance. Our direct channel offering is Canada's first fully-digital insurance product: customers can get a quote and purchase their policy entirely online, after answering a minimal number of questions. Next, I'll tell you about how our Advanced Analytics team has applied actuarial science to problems outside the traditional practice areas of pricing and reserving. Recent initiatives focused on improving the efficiency of our claims operations. For example: if a property claim requires a field visit by a claim adjuster, how do you determine which adjuster to send? It turns out that the correct answer isn't always as simple as sending the nearest adjuster.
Keywords: Actuarial Science