Len Llaguno

Are actuaries already using large language models to support decision-making? Yes! Check out the use case for AI-driven pricing support presented by Aidan Gomez, CEO of leading enterprise AI company Cohere at the end of this interview #actuaries #genai https://lnkd.in/g8sRr858

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Guidewire's Alex Ryckebusch , MBA and Ryan Grant will be hosting the National Association of Mutual Insurance Companies (NAMIC) Claims webinar on October 1, "Lowering Your Loss Ratio With Embedded Claim Analytics: Best Practices from Leading Insurers." They'll be discussing some of the most valuable use cases, how they were implemented, and the demonstrated returns on investment. Register here: https://lnkd.in/g-CMawNU #GuidewireClaimCenter #insurance #insurtech #claims #claimsmanagement #analytics

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Confused about the difference between AI and Generative AI (Gen AI)? My colleague, Donald Light, Principal Analyst on Celent's Insurance team, breaks it down in his latest blog: AI (Artificial Intelligence): "Making a Decision AI" uses data science to guide decisions, like processing insurance submissions. Gen AI (Generative AI): "Summarizing and Organizing Gen AI" generates new content from existing data, aiding underwriters by summarizing and organizing information. Final decisions are still made by humans. Both types of AI can add significant value to insurance processes, from analyzing aerial imagery for hazardous conditions to summarizing submission packages. Check out his full blog to learn how both AI and Gen AI can transform your underwriting process > https://lnkd.in/eXP3sE9q #AI #Underwriting #GenAI

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SRS Benefit Partners Webinar: Strategic Value of Data Analytics In this 30-minute webinar, Rebekah Lane and Kevin O'Brien dive into the world of data analytics highlighting how data provides transparency, accountability and quantifiable savings. Key topics include: - Strategic value of data for Salus and the members. - How transparency drives savings and better outcomes. - The ways to identify risk to implement point solutions and measure outcomes. - Data enrichment for captive members to design benefit programs to better serve their plan participants. View the video: https://hubs.ly/Q02Zpfm90 Submit your proposal today: https://hubs.ly/Q02Zp3hT0 #education #webinar #data #employeebenefits #insights

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It was great to sit down with Jessica Koch for the fourth and final chat in the AHOU: Association of Home Office Underwriters #Advance360 Chat Series "AI 101: Unlocking AI in the Life Insurance Industry". Members can find all Chats in their AHOU Course Library. In this chat we discuss AI terminology 101 in underwriting.

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Learn how Wavicle helped a major insurer modernize its data strategy and build an actuarial data mart, enabling faster, data-driven decisions and more efficient operations. https://hubs.ly/Q02Zb17P0 #datastrategy #datamart #insuranceanalytics

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🎯 Are your models delivering reliable results? Join CoreLogic Chief Actuary Howard Kunst, FCAS CCRMP Nov 21st for "Master the Match: CAT Models & Validation Methods". Learn how to: ✓ Choose the right validation approach for loss-based models ✓ Master score-based model evaluation ✓ Apply practical model validation techniques you can use immediately Don't leave model accuracy to chance. Register now for this International Society of Catastrophe Managers (ISCM) member-only session: https://lnkd.in/g2jUDa8J #Insurance #Reinsurance #RiskManagement #Actuarial #CatastropheModeling

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Insurity Launches New Spreadsheet API Solution to Enhance Insurance Product Development "Insurity Spreadsheet API represents a significant leap forward for insurers looking to modernize their operations," said Chris Lafond, Chief Executive Officer at Insurity. "By converting business logic from spreadsheets into APIs, our solution not only accelerates product launches but also reduces development costs by hundreds of thousands of dollars. This integration will drive greater efficiency and agility in day-to-day operations, allowing insurers to stay ahead of the competition." https://lnkd.in/edbi3jQR Sylvester Mathis, III R Kenin Page Jay Wilson mark adessky Brandon Grinwis John Brisco Coherent Peter Roschke Scott Musson Krista Zamboldi #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Big I Illinois was kind enough to ask me (along with some of the cool kids like Chris Cline, Joey Bouchard, and Colby Tunick, PMP) to contribute my thoughts on "The State of InsurTech" in their June 2024 e-Insight Conversations Series. I'll drop the link to the full article in the comments but I can summarize here with two quick points: Agents should be thoughtful about their tech stack, especially as "AI" powered startups enter the industry. - In my opinion, we are due for a really dynamic period as entrepreneurs try to wrangle the power of LLMs. - I think you'll see a rapid rise in solutions powered by LLMs targeting agencies but likely an equally rapid fall as they all compete with each other (and ChatGPT). - Patrick 🍀 McBride wrote about some of the benefits he's seeing using these tools in this issue as well. Independent agents have never been more influential are the technology being built. - There are a lot of really smart folks building in this industry and we all want to hear from you, have you test drive our product, and give us feedback. - Agents can design the solutions they want and need by using this influence to guide products being built for them by getting involved with organizations like 101 Weston Labs. Check out the article and let me know what your thoughts are on the state of InsurTech! #InsurTech #Insurance #InsuranceAgents

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We kicked off #CASSpring in Atlanta with our half-day Sunday Workshops! Actuaries and aspiring professionals explored the practical applications of R and Python, significantly enhancing their skills in data manipulation and AI-driven underwriting. From mastering R's data structures to delving into AI innovations in risk assessment, participants are now better equipped to lead and innovate in the ever-evolving P&C insurance landscape. The excitement continues as we kick off three days packed full of innovative sessions beginning tomorrow morning. Stay tuned for more updates! #CASATL24 #ActuarialScience #DataScience #ArtificialIntelligence 

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Do you think about the impact of emerging technology on the actuarial function at your organization? Are you interested in thoughts on how your organization might take agency? Well...check out these thoughts. Actuaries are not helpless. We have an opportunity NOW to choose how big data, AI, and process modernization impacts our profession. Matt Heaphy Matthew Wininger Romina Egan, FSA, MAAA #transformation

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Join our course with Out of Pocket on-demand. Learn about value-based contracting and the actuarial analytics behind it in an easy-to-understand and practical way. Get firsthand insights shared by a provider and a payer engaged in real-world value-based contracts: https://bit.ly/3WPpEuV

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🔬Insurance Research: Machine Learning Reshaping Insurance Pricing 🏥 A Milliman report explores ML techniques vs. traditional methods in health insurance pricing. Here's why it's a game-changer for #InsurTech startups: 1️⃣ ML models outshine traditional methods: Tested: GLMs, Random Forest (RF), Gradient Boosting Model (GBM) Winner: Random Forest with 99.2-99.7% accuracy in predicting losses 2️⃣ Pricing methodology evolution: Current industry favorites: Burning Cost method, GLMs Future potential: Decision trees, Random forests, Boosting methods (GBM, XGBoost) 3️⃣ Competitive edge for startups: While established players face adoption hurdles, agile startups can pioneer ML-driven pricing. 4️⃣ Data-driven decisions: Harness big data to optimize strategies, boost income, and reduce costs. 5️⃣ First-mover advantage: Survey shows low current adoption - perfect timing for innovative startups to disrupt the market. 🔑 Key takeaway: Investing in ML capabilities now could position your #InsurTech startup at the forefront of the industry's technological shift. 💡 Thoughts? Is your startup already leveraging ML for insurance pricing? Share in the comments! #MachineLearning #InsuranceTech #StartupInnovation #HealthInsurance

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Protecting sensitive data is never simple. For some businesses, though, it can appear overwhelming. How’s this scenario for a data protection challenge? What if your business was deeply rooted in actuarial services and third-party administrative roles? What if you had to manage pension and financial data rooted in legacy systems burdened with poor-quality data? And what if your company was growing through mergers and acquisitions and had significant compliance regulations to adhere to? Pretty monumental hurdle to overcome, right? That’s exactly what Ellement Consulting Group was facing when they connected with us. Read their story to find out how they addressed all their data security challenges. https://lnkd.in/gXgkXbVY

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Read our recent interview featuring Laura Noble, RVP — Risk Management Sales, and Nathan Frommelt, Area VP — Risk Management Sales, to explore the opportunities in the evolving insurance landscape, as well as the key insights and solutions driving superior outcomes for the industry. https://hubs.ly/Q02vbSyM0

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Don't miss out on our free Entrepreneurial & Innovation Section Topic Call focused on Using GenAI in Everyday Actuarial Work. Sign up for this December 4th event to learn more about the best practice uses of #AI at https://bit.ly/3CzwBZD.

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Analytics plays a pivotal role in insurance — learn more about how with Aaron Temples in our latest Tech & Product blog post. Aaron shares insights on enhancing MGA-carrier relationships, the integral functions of actuarial support at Accelerant, and our unique, data-driven approach. Catch the full interview: https://lnkd.in/eShrRskE #Analytics #InsuranceIndustry #MGA #AskTheExpert

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When you work with Humbi AI, you’re not just getting access to data—you’re getting a partner who is as invested in your success as you are. https://lnkd.in/dYnPUGQC #HealthcareDataAnalysts #HealthcareActuarial #ActuarialIntelligence

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