The actuarial profession has always been at the forefront of utilizing technology to improve decision-making and predictions. Now, with the introduction of advanced artificial intelligence (AI) and machine learning (ML) tools like OpenAI’s GPT-4, the profession is on the cusp of another major transformation.
CIA statement – Big data’s position in insurance ratemaking
Finding the balance: Personalization of risk and risk pooling
The latest buzz phrase in the insurance industry is “embedded insurance,” which presents an opportunity to seamlessly offer protection in real time given a proactive approach to risk management. Underpinning embedded insurance is the ability to personalize insurance. This requires that customers understand the necessity of sharing more data with their insurance providers.
Behold the API (application programming interface)
Most actuaries work with data and build models, but do most know how to facilitate the distribution of their data and models? The purpose of this article is to introduce the idea of application programming interfaces (APIs) to actuaries who may not have considered them as a way to distribute their data and models.