Mathematics

Applications of Predictive Analytics: Improving Business Operations for Life Insurance Companies

Andy Ferris, FSA, MAAA, CFA (Managing Director at Deloitte Consulting)

Abstract: Why is the SOA adding a predictive analytics component to the ASA curriculum? Join Andy Ferris to hear about predictive analytics in practice. Ferris will discuss how his teams are deploying applications of predictive analytics to disrupt and improve core life insurance company operations. He'll present several examples of "traditional" business processes at life insurance companies and how those processes can be re-designed with applications of predictive analytics to save time, save money, and to deliver a better customer experience. He'll share his insights on the role of the actuary as "the engineer of a life insurance company" in introducing applications of predictive analytics in core business operations. Ferris will also explain how the changes in the ASA curriculum will ensure that all students going forward have a fundamental understanding of predictive analytics.