Workshop B7: How can actuaries best add value to claims?
Claims and actuarial are 2 teams that often end up working together but finding a middle ground between the 2 perspectives can be a challenge.
The speakers will unpack the role of working within claims as a claims actuary, answering:
- what differences are there in the way that claims and actuaries think?
- where might claims benefit most from an actuary’s input?
- what can actuaries do to better their understanding of the challenges that claims face with understanding actuarial information?
The speakers will also share their research into using analytics to better understand claims experience, including:
- using an ‘index of case reserving strength’ to quantify and better understand changes in case reserving
- using machine learning with individual claims data to efficiently identify and quantify the impact of specific known claims initiatives, and identify and investigate unexpected changes in claims experience
Speakers: Charlie Stone and Melissa Tam, LCP