Actuaries are playing a more prominent role in risk management, and they are turning to technology to assist with combating operational inefficiencies and fraud that plague the claim process… Read our article on Technology Trends in Claims Management and more on our website https://actuartech.com/technology-trends-in-claims-management/

Introduction Depending on an insurer’s ultimate financial reporting operating model goals various solution options could be utilised to address IFRS 17 compliance requirements. Many insurers are considering developing an actuarial & accounting control tower from which to calculate, analyse, control and ultimately develop insights into the financial performance of the insurer…

Introduction A huge increase in data generation, data capture and data storage combined with significantly increased computing power is providing life insurers with a unique opportunity to re-evaluate the value that their data can provide. Customer Needs It is well known that customers do not respond well to offers that they consider not…

Introduction More and more businesses are starting to adopt Artificial Intelligence based solutions. Besides considering the apparent project risk that implementing such techniques introduce, enterprises need to consider what the overall impact will be on their Risk Profile after the launch. …

Introduction Put simply, data science is the application of scientific methods to business data to effect action. Data science includes technological tools and statistical methods to provide information to management to assist them in decision making and risk management. It enables us to extract insight from data that can lead to…

Introduction In the current economic climate, insurers need to improve their processes continually — making them more efficient and cost-effective while maintaining the agility to deal with new requirements. At the same time, technological change is providing new ways of achieving these objectives. In particular, the term ‘robotics’ appears to be…

Integrated compliance processes in combination with an automated workflow framework will give continuous insight into the impact of regulations on every aspect of the insurer’s operations. — The Aim Workflow and Process Orchestration tools aim to improve efficiency in companies by increasing the speed of task completion and lowering expenses. It targets efficiency around information processing. This allows for better decision making and satisfies auditors and regulators by providing a full audit trail. …