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…

11 Best Practices for Building a Successful Production System

For us data scientists, the benefit of using statistical modeling and optimization techniques for our business is clear. Although we spend our days coding in SQL, python, R or other frameworks and our models are a software code or some nice mathematical function, our aim is to use sophisticated statistical models to analyze our business…

A Solid Analytical Solution: What Matters Most?

Insurers and financial services organizations are constantly looking at how best to put predictive and prescriptive analytics to use inside of their organizations. In this day and age of so many different flavors and varieties of analytical platforms, it can be challenging for buyers inside of financial services and insurance organizations to fully understand the…

Earnix Summit 2016: Customer Centricity in a Rapidly Changing Industry

As financial leaders, we are privileged and challenged to live in the most exciting times in the history of the financial services industry. With disruptive technologies entering the market place, the industry is changing at a phenomenal rate and this was highlighted time and again throughout the 5th Earnix Pricing and Innovation Summit that was…

Three Biggest Barriers to Implementing a Relationship Based Pricing Strategy in a Bank

Achieving a customer-centric business has become even more complex today, particularly with the added emphasis on leveraging analytics and big data, managing regulatory constraints, and the entry of non-traditional Fintech disruptors. Considering the pressure banks now face and the increased choices to which consumers have access, it seems as if serving customers on a true…

Auto Finance Summit 2016 – A Quick Review

Last week, the world’s largest auto finance event was held in Las Vegas. It brought together over 1000 participants – lenders, dealers, and software vendors – to discuss the state of the industry and cover current issues. As lenders and dealers are having to account for the new digitally empowered consumer, the way they lend,…

The Journey To Customer Centricity In A Bank

Customer centricity is a key success factor in retail banking today. Yet, I have seen all too often that when bankers speak about customer-centricity, perception falls short of reality. Most times they are really referring to a desire to become customer-centric or believing they have already achieved a customer-centric organization, while C-level executives relate to…

The Search For Love, Happiness And Purpose In A World of Technology and Data

I think we can all agree that insurance isn’t the most romantic industry. I certainly didn’t imagine myself working in it. But in fact, insurance is one of the key pillars of a functioning society under capitalism. It’s a crucial tenet of our economy – but for the most part, the industry remains stuck in…

What Makes Financial Executives Step Out Of The Office?

Many financial leaders are struggling with digital and data transformations. Day to day dynamics often leave executives confined by a limited set of ideas accepted by their organizations. Attempts to “ask around” or “learn from the best” in order to become innovative are easier said than done. The fact is that there is no better…