Machine learning – Automation of Claim Processing

Introduction Artificial intelligence can definitely help in the claims processing. As it often is with technology the key is to automate say 80% of the time/cost and then handle the remaining 20% manually. The reason being, of course, 100% automation is hard to achieve. Paperwork, manually written notifications, follow-ups, and underwriting are usually boring to do. Automation allows companies to reduce the cost that is spent on routine work and…

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Frequently Asked Questions – IFRS 17

Introduction Under the supervision of the IAA the below questions has been answered around the IFRS 17 regulation. It is an educational document on an actuarial subject that has been adopted by the IAA in order to advance the understanding of the subject by readers of the chapter, including actuaries and others, who use or rely upon the work of actuaries. Link to IFRS 17 Published Documents page. More questions…

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EIOPA Stress Test 2018-2019

EIOPA plans to release a stress test report in January 2019. Regular tool Stress tests are one of the regular supervisory tools used to assess the resilience of the insurance sector. 2018 Test The 2018 exercise is tailored to assess the vulnerability of the European insurance sector to specific adverse scenarios and will be based on a sample of 42 insurance groups. The scenarios encompass a wide range of risks,…

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