Shifting Gears live session recap
On Thursday the 17th of November, we held the first ever Shifting Gears half day event in beautiful Sydney, Australia. With an enthusiastic group of attendees listening intently to our talented group of speakers, the event was a wonderful way to spend the morning. There were many great ideas tossed around, and innovative insights offered up about the changing horizon of the insurance industry. Throughout the morning there were four presentations by various players in the insurance industry, each sharing their unique point of view.
For those of you who missed out, or if you just want a quick refresher, here’s a quick debrief of what we learned from the presenters.
The potential of data analytics for life insurance products.
By James Goodchild | Chief Reserving Actuary | Zurich
James kicked the event off by discussing the use of machine learning algorithms. With a general understanding of the function, and a clear understanding of the needed inputs for these algorithms, you can let these tools work wonders for you.
Best practices of collaboration in business units driving profitability.
By Al Merten | Partner Financial Services | Deloitte
Al used the term "human centred design" to explain how we should collaborate with different business units and focus product design around customers' expectations and needs.
How experience analysis can be utilised for more profitable trauma and DI products.
By Stuart Blackhall and Alex Threlfall | Munich Re
Alex and Stuart discussed the current state of IP and Trauma products in Australia and explained opportunities they see using experience analysis. Again, the focus was on customer centricity.
Practical tips on how to grow profitability through pricing maturity.
By Klaas Stijnen | Managing Director | Montoux
Klaas listed several opportunities to optimise pricing processes. He shared more detail on how to increase speed on actuarial analysis, utilise segmented actuarial information, automate actuarial reporting capabilities and how educating stakeholders could help to create a higher quality proposition.
We, at Shifting Gears, would like to thank everyone who attended and contributed to bringing this event to life. Hosting such a successful event only makes us even more excited to get started planning the next one. Stay tuned!