Actuarial transformation is a growing trend with clear impacts on data, software, analytics and reporting. So how does modeling fit in? The presenters will explore how the actuarial modeling function fits into a transformed business, starting with the questions below in a case study discussion to allow attendees to learn from peers.
- Where does the actuarial model begin and end? Does it include data pre-processing? Analytics and visualization on output?
- Are non-core functions that the actuarial model has traditionally performed being reevaluated as specialized tools are rolled out to supplement models?
- Does renewed focus on core functionality change companies' preference for an 'open' versus 'closed' software platform?
- Does increased desire for automation change how models are parameterized?
- Does increasing specialization of models result in additional benefits from centralizing the modeling function?
At the conclusion of the session, attendees will be able to:
• Describe how the increasing demands on the actuarial modeling function may impact decisions around how models are structured
• Benchmark their companies’ models and model architecture against peers
• Consider changes to improve actuarial models, such as how models are automated and with what tools the models interface
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