S301 Asif JOHN ARGenesis Ins Conf 1 - Doar Ã®n citire · 2019. 6. 28. · Title: Microsoft...

“We empower organizations to gain strategic advantage and disrupt business models by leveraging decision science through an agile

neoteric approach to data, machine learning and artificial intelligence”

© AMJ Global Solutions 2019

Contents• About me

• Current trends in the Insurance Industry

• GIGO lives

• What is ARGenesis

• ARGenesis Structure

• How ARGenesis works

• Examples of Machine learning at various stages

• Self Service Dashboards demo

• Customised analytics solution

• AI powered EDA demo

• Our Partner in Azerbaijan - ButaBroker

• Questions

• Acknowledgment


• Qualified Actuary with 20 years in the Insurance and Re-Insurance sector. Held roles up to C-Level.

• Founded AMJ Global Solutions Group, with an aim to digitally disrupt the Insurance market. And conceptualised ‘ARGenesis’, a proprietary data management ecosystem.

• Partnered with FTSE clients to provide them consultancy on various insurance aspects such as risk, pricing, reserving, capital, underwriting, product innovation.

• Chairman of the IFoA (Institute Faculty of Actuaries) data science committee.

• The qualities people say I have - trust, spontaneity, energy, dynamism.

About Me



Increased Customer Focus• Finding new, retaining old customers• More customer Information• Greater customer involvement

Inclusion of IoT and Sensor Data• Increased Focus on sensors to prevent

and reduce losses

Harnessing the power of cloud• BOT and AI development made easy• SaaS helps reduce IT spends

Master Data Management• Better data foundation leads to

building of better data models• Helps extract more insights from

available data• Faster and better corporate

reporting

Building a Data culture• Self service dashboards• Enhancing and breeding

the citizen data scientist culture

Data and Information protection• Keeping the data and

information safe and regulation compliant

Current trends in the Insurance Industry



BIASGarbage

IN

More BIAS More Garbage

OUT

ALL THE DATA SCIENCE BLING

While Fantasy is a nice place to be, the reality is that 80% of all data science effort is in transforming and cleaning data.

GIGO ! Lives On .


Self Service and Interactive Data Dashboards

Data Driven Strategic Advice

Propose New Insurance Products

Real Time Rate Monitor and Cycle Improvement

Improve existing Products

Automatic Management Information Reports

More Credible Actuarial Calculations

Artificially Intelligent Insurance Products

Risk and Actuarial Data Pipelines

Enter ARGenesis


• Strategic Advice• Increased Business Value• Cost and time savings • Competitive Advantage• AI and BOT development• Reduction of incurred costs• Reporting Framework

t = 0 t = Few Minutes

• Offered as SaaS or On Premise

• Leverages existing investments in Analytics tools and other automation initiatives

• A Team of Experienced Data Science experts, IT Architects & qualified Actuaries – ITAC

• Fully Customized – Fit for purpose

Social Data

Existing data store

IoT and Sensor Data

Processing time as short as a few minutes

Data Frame

Data Warehouse

Data on Cloud

Small projects

API

API

AI Enabled Interactive Analytics and Reporting

PrepareData Set

DeployModel

Machine Learning

ARGenesis Structure


How ARGenesis works


Missing Data is a Nuisance, But not for us

Not only do we employ Machine Learning techniques such a Predictive Mean Matching, Classification and Regression Trees etc. to calculate Missing Data, we also employ similar techniques to calculate IBNR and IBNER during the process of Loss Development.

Examples of Machine learning Filter – Stage 1



We employ Machine Learning to bring only the Relevant Data for further analysis. We call this the GREEN CODE – Less but relevant data – lesser data center energy consumption and Better data models.




Association rules mining using machine meaning helps us build recommendation engines and prediction models that help cross product selling and making accurate predictions, for example TP calculations and more!



Examples of a data driven insight Machine learning Filter – Stage 4We were approached by an Insurer to carry out a reserving review in order to determine technical provision allocation. There were many challenges with respect to data being used to its optimal level whilst maintaining the current processes.

ActionsWe projected adequate IBNR/IBNER using a machine learning approach within A&E which was blended at both aggregated and granular level.

ResultsWe were able to secure an improvement within their LDF/CDF allowing a healthier accuracy, which provided better support with risk reserves for the TP (technical prevision).

LossDevelopment

Deviation from “Average” Profile

Improved existing risk reserve for technical

provisions

Improved existing risk reserve for technical

provisions

13% overall technical provisions improvement

13% overall technical provisions improvement

Achieved better TP calculations by applying non traditional actuarial

approach

Achieved better TP calculations by applying non traditional actuarial

approach


We don’t reinvent the wheel, There is enough AI already – Use it !

We integrated Microsoft and Apple’s Natural language processors Cortana and Siri with out AI

EDA process


https://www.amjglobalsolutions.com/blog Can integrate with your existing Analytics solution

Self Service Dashboards – Helps promote Data Science usage by Actuaries


Our Partner in Azerbaijan - ButaBrokerWe are helping clients like ButaBroker lay the data foundation by integrating state of the art data and IT practices with several years of actuarial and Insurance experience.

We are cutting down the speed with which we can transform data for the AI and ML models that then give rise to new age Insurance products. Mobility and AI enabled products

We are highly sensitive to the issue of data models using suboptimal and unclean data and have developed process and practices through the data scientists, IT experts and Actuarial

We are empowering Actuaries with self service data science

We are committed to take the insurance sector to the next stage – ‘Responsibly’



Acknowledgment

“Thank you to ButaBroker our partner for inviting me to present my take on the insurance revolution and lets make Azerbaijan a world leader in the InsureTech space” Ali Bayramov, CEO and President, ButaBroker

Questions?


Thank you !

Asif John

+44 20 3488 1499

[email protected] www.argenesis.com

Foxhunter Drive, Milton Keynes MK14 6GD, United Kingdom

S301 Asif JOHN ARGenesis Ins Conf 1 - Doar Ã®n citire · 2019. 6. 28. · Title: Microsoft...

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