The 2015 Society of Actuaries Annual Meeting was attended by 2,200 attendees making it the second best attended Society of Actuaries meeting ever, second only to the Society of Actuaries 50th Anniversary meeting in 1999.
Barry Senensky, President of Claim Analytics, presented on how predictive analytics can be used in underwriting. This session was well attended and received a lot of positive feedback. Barry's presentation is below.
Kevin Pledge, CEO of Claim Analytics, was the Program Committee Chair; he also presented a fun TED style talk on lessons we can learn from other industries.
With eight sessions, the hot topic of the meeting was clearly predictive analytics. Contrasting the level of interest was the level of experience of attendees. While many sessions talked about using advanced techniques and big data, most companies have not taken the initial steps.
We see the number of sessions as an indicator for wider adoption of predictive analytics in life insurance, however at the same time we feel companies need help and guidance in this area and need to plan their predictive analytics strategy over several years.