Pinnacle Actuarial Resources, Inc.’s Post

Personal opinion: The increasing use of machine learning models in insurance, coupled with the introduction of the AI Act, will see the emergence of a new actuarial role in the coming years. There's a great opportunity for the profession to step up to meet new demands but some upskilling will be needed!   Have a read if you like! #insurance #ai #aiact #regulatorycompliance #ethicalfinance Mazars Ireland https://lnkd.in/e5wNSGsr

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Convr’s artificial intelligence powered workbench is making underwriting easier and more accurate – increasing decision-making confidence for underwriting teams. Read about our AI underwriting, data, and intelligent document processing workbench here and how it can help underwriting teams by better organizing submissions here in our latest blog post. #ai #ml #data #datalake

The impact of the EU AI Act on the insurance sector and the emerging role of the compliance actuary. In this article, Gary Stakem, director of our actuarial and risk services, outlines the implications for insurers of the #AI Act in governing the responsible and ethical adoption of new technologies and how #actuarial teams will need to adapt to meet new needs. https://lnkd.in/etT3zzWk

It's really important that people understand and take note of how the new EU AI legislation applies to them - across all industries, for people trading with the EU. It makes the fines for non-compliance with GDPR look quite paltry - in this case it is the higher of 7% of annual worldwide turnover or €35m. If you're concerned about quality of AI training data, traceability/auditability of results, security and safeguards - well done! If you're not, might be worth a bit of due diligence.

Good article and well worth the time spent to read.

Do not miss this blog!!! One of our multinational carriers using our Digital Coworkers experienced 99.5% accuracy extracting policy level data from submissions – massively reducing underwriter reviews.   #rootsautomation #digitalcoworker #accuracy #ai #thefutureisnow #changingthegame

Convr AI, is taking its underwriting workbench to the next level through a partnership with Coherent. Coherent’s platform Spark helps accelerate business initiatives and improve speed to quote, increasing efficiency and driving growth in some of the most complex and volatile industries including some of the top insurers in the world. Learn more about how Convr is partnering with Coherent here in our latest press release. #ai #ml #data #datalake

Interesting read about AI and Insurance, specifically how it might be impacting the actuarial profession. As of now, AI does not seem to have the mathematical ability to be utilized extensively, except for analyzing and communicating results. Keen to hear from my network on YOUR thoughts about this! #actuary #actuarial #ai #genai #lifeinsurance #actuarialscience

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