Are You Making these 7 Mistakes When Deploying Your Models?

I am always excited to see more organizations wanting to use analytical models at the center of their business processes. Like most things in life, the road to success is not straight; sometimes there are a few road bumps to navigate. The same is true for integrating models into the production environment. For instance, even…

How Insurers Can Better Understand Multi-Product Customer Behavior – Machine Learning Can Help

It’s all about the data. That’s the message I kept hearing at the CAS Ratemaking and Project Management conference in San Diego this spring. The message was so strong, that I was asked to present my seminar, “Multi-Product Optimization: Challenges and Opportunities” not once, but twice along with LaCapitale’s Bruno Tremblay at the annual conference.…

Is Machine Learning a Threat to the Actuarial Profession?

Man vs. Machine: 10 years ago, I would never have guessed that I would be writing about this topic with such serious concern. Yet, some people are predicting that machine learning technology will produce a jobless future for certain professions, including actuaries. And with news headlines like “Google’s AlphaGo AI beats Lee Sedol again to…

Conversion & Retention Modeling Done Right: The Four Keys to Success

These days, many industries are spending millions of dollars in research to achieve their customer-centric goals. The insurance industry is no different. Insurers are continually raising the analytical bar to gain a better understanding of their customers. Being able to accurately predict consumer behavior is the key to being a step ahead of the competition.…

Xperts Hackathon Gives Hands-on Insight into the Future of Pricing Analytics

Agility and an understanding of the business environment has helped a team from the UK to win the first Xperts Analytics Hackathon, held in London. The Hackathon brought together teams of insurance data analysts from across Europe to compete in a real-world insurance simulation contest. Throughout the game, the winners kept a well-adjusted portfolio that…

How to Transform Your Models into a Fully-integrated Analytics System

More than ever before, financial service organizations are using analytical models to power their core business processes. Ever-higher customer expectations together with new market players are some of the drivers that are responsible for accelerating the pace of change in the market. This calls for business decision makers to react quickly if they are to…

On the Breakfast Menu: AI and Prescriptive Analytics in Financial Services

In early March, Earnix hosted an executive breakfast in New York for consumer banking executives who work with analytics related to offer management and pricing. Two speakers presented their views on the state of analytics in financial services. One provided a long-term vision of using Artificial Intelligence (AI), and the other, offered down-to-earth practices of…

Analytics Hackathon – A New Way for Insurance Analysts to Sharpen Skills

The insurance market has never been faced with so many new technologies, bringing with it increased opportunities to leverage analytics in the industry. Yet, for many insurance professionals, keeping pace in this very dynamic market is challenging, which is why Earnix is staging its Xperts Analytics Hackathon in London at the end of February. The…

A Solid Analytical Solution: Operational Excellence

Over the last month or so, I have read numerous blogs that deal with forward-looking trends for 2017. While each blog has its angle, one cannot miss the huge role being placed on data analysis and analytics. As such, at the end of last year I started a three-part blog series around what it takes…

Using Conversion & Retention Modeling Can Improve Business Results

Insurance companies are well-known for investing their resources in GLM loss modelling. They have become so mainstream you’d be hard-pressed to find an actuary without any experience building them. In fact, nowadays, bigger companies even use their interns to keep these models updated. Although not all companies are developing or leveraging these models the same…