1 | Copyright © 2018 Deloitte Development LLC. All rights reserved.
ACTUARIAL & INSURANCE
SOLUTIONS
Presentation of the team
April 2018
Prague
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ACTUARIAL & INSURANCE SOLUTIONS
WHO ARE WE?
• Deloitte consulting
• Team of 20 mostly fun people and some nerds
• Age is around 30 but we have partner and director in age of my father
• Trainings across Europe
• Project work – I like it ;)
• Benefits – we have a lot of point in to buy e.g. perfumes for girlfriend or boyfriend, iphone,
ets.…
• Every fist Thursday in month dinner for freeee!!!
• ….
3 | Copyright © 2015 Deloitte Development LLC. All rights reserved.3 | Copyright © 2018 Deloitte Development LLC. All rights reserved.
WE DO INSURANCE CONSULTANCY
• Math and statistics – building the models, analyzing the data,…
• Process improvements – better data, automation, work-flow…
• Business impact that matters – data and processes, sale support, insurance products
• Regulatory – Solvency II, IFRS 17, IDD, PRIIPS, GDPR
4 | Copyright © 2015 Deloitte Development LLC. All rights reserved.4 | Copyright © 2018 Deloitte Development LLC. All rights reserved.
Green bar = best price in market
0
0,5
Current tariff
0
0,5
Proposed tariff
BIG DATA USAGE TOOLS RESULTS
• Underwriting data
• Inhouse data about
claim history
• Public and market data
• …
• Visualization
• Analysis
• Reporting
• …
• Advanced analytics
• Predictive modeling
• Pricing
• Customer life time value
• Scoring models
• …
• Purple people
• Analytics
• Business
• Software
• R, Qlik, Tableau, Power BI,
Prophet, MoSes, Igloo,
ReMetrica, SQL, VBA …
 Customer experience
 Higher profitability
 Innovative brand
 To be one step ahead
 …
BIG DATA AND INSURANCE
TODAY
Information about the motor is not
sufficient
Engine
Engine
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BIG DATA AND INSURANCE
VISION OF THE FUTURE
PUBLIC DATACUSTOMIZATION
INDIVIDUAL DATA
BEHAVIORAL DATA BLOCKCHAIN
• Smart cars and telematics
• Smart watches
• Smart homes
• …
New data with new
possibilities and purposes
• Prediction and prevention
strategies
• …
 Facebook
 LinkedIn
 Public info about dodgers
 …
Often more valuable than
data held by insurance
company
 Length of customer stay on
website
 Number of customer clicks
 Most attractive section of a
website
 …
Offer behavioral information about
the client as well as his/her needs
Transformation of:
 Products
 Systems
 Payments
 …
Disruption of the whole
financial market
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ACTUARY VS DATA SCIENTIST
I AM AN ACTUARY! WHO IS A DATA SCIENTIST?
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ACTUARY VS DATA SCIENTIST
WHICH JOB IS A BETTER ONE???
2015 2016 2018
5.
11.
Source: http://www.careercast.com/jobs-rated/jobs-rated-report-2016-ranking-200-jobs
1.
6.
10.
1.
8 | Copyright © 2015 Deloitte Development LLC. All rights reserved.8 | Copyright © 2018 Deloitte Development LLC. All rights reserved.
Wanted by
Insurers
Standard
Data scientist
Data
Statistics Business
ACTUARY VS DATA SCIENTIST
ACTUARY: DATA SCIENTIST WITH DEEP KNOWLEDGE
ABOUT INSURANCE BUSINESS
Standard
Actuary
9 | Copyright © 2015 Deloitte Development LLC. All rights reserved.9 | Copyright © 2018 Deloitte Development LLC. All rights reserved.
Wanted by
Insurers
Standard
Data scientist
Data
Statistics Business
ACTUARY VS DATA SCIENTIST
ACTUARY: DATA SCIENTIST WITH DEEP KNOWLEDGE
ABOUT INSURANCE BUSINESS
Standard
Actuary
10 | Copyright © 2015 Deloitte Development LLC. All rights reserved.10 | Copyright © 2018 Deloitte Development LLC. All rights reserved.
DATA SCIENCE FOR ACTUARIES
SKILLS REQUIRED
DATA SCIENCE
METHODS
TRADITIONAL
ACTUARIAL SKILLS
DATAMINING SOFTWARE
• Basic (non-)life reserving
• Pricing methods
• Accounting
• Calculus
• Statistics
• Basics of several softwares (R,
Mathematica, Excel, etc.)
• Prophet, MoSes, ReMetrica, Igloo,…
 Decision trees (forest)
 Logistic regression
 Time series
 Segmentation algorithms (K-means, Selforganising
maps etc.)
 Optimization algorithms
 Artificial neural networks
 Extensions of GLM models (hurdle
models, etc.)
 Database
 SQL Server, Oracle Database, MySQL
 Programing
 Python, JAVA, C#
 Statistics
 R (advanced), SAS, SPSS,…
 Visualization
 Power BI ,Tableau, Qlik, SAS VA…
11 | Copyright © 2015 Deloitte Development LLC. All rights reserved.11 | Copyright © 2018 Deloitte Development LLC. All rights reserved.
CASE STUDY 1 (ČR)
Riziko silně závisí na regionu
Jen motor nestačí pro zachycení rizika
ani strategie konkurence
Ceny napříč trhem a kanály + reakce klienta
OčekávanýziskstarifemX
Pravděpodobnost nákupu s tarifem X
+
ÚSPĚŠNÁ
CENOVÁ STRATEGIE
(PRICING) PRO NEŽIVOTNÍ
POJIŠTĚNÍ
Click
Click
Dosažené cíle
• Zvýšení konkurenceschopnosti lepší segmentací
• Zdvojnásobení objemu při poklesu škodního procenta
• Snížení režijních nákladů jako důsledek zvýšení objemu
• Větší flexibilita a řízení cenové strategie
12 | Copyright © 2015 Deloitte Development LLC. All rights reserved.12 | Copyright © 2018 Deloitte Development LLC. All rights reserved.
CASE STUDY 2 (ČR)
0
10 000
20 000
30 000
40 000
50 000
60 000
CLV
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
Lapserate
Number of policies (thds.)
Predikovaná storna
ZVÝŠENÍ RETENCE V ŽIVOTNÍM
POJIŠTĚNÍ
Cíl
Podpora úspěšného vybudování retenčního call
centra v životním pojištění a zvýšení retence
zákazníků v ŽP.
Použité analytické modely
Model CLV (customer life-time value) společně
s individualizovanými prediktivními modely storen
a pojistných událostí identifikují cílové klienty.
Prediktivní model šance udržení klienta identifikuje
osoby s vyšší pravděpodobností pozitivní reakce na
retenční nabídku.
13 | Copyright © 2015 Deloitte Development LLC. All rights reserved.13 | Copyright © 2018 Deloitte Development LLC. All rights reserved.
Foreign Benchmark Segment Size and
Penetration
Kde jsme cenově konkurenceschopní
(příklad: 1 z dimenzí segmentace pojistných tarifů)
Large insurer Aggressive motor insurerNabízený tarifKlíčová
konkurence
CASE STUDY 3 (ČR)
POUŽITÍ BANKOVNÍCH DAT V NABÍDCE ŽIVOTNÍHO I
NEŽIVOTNÍHO POJIŠTĚNÍ Životní pojištění
Využití informací o důležitých momentech v životě
klienta
Načasování nabídky pojištění
(svatba, narození dítěte, …)
Neživotní pojištění
Pouze z dat banky jsme predikovali:
Relevance nabídky
Má auto? Platí si pojištění? Blíží se obnova?
Šance na úspěch nabídky
Budeme levnější? Příklon k naší bance, reakce na
nabídky po telefonu?
Rizikovost klienta
Pojistný segment, zkušenost banky s klientem
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REGULATORY AND BIG DATA
IFRS
Impact analysis in Power BI
IFRS
Non mathematical projects:
GDPR
PRIIPS
Business projects
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THANK YOU.
Contact us.
www.facebook.com/aiscz
Actuarial and insurance
solutions
mgerthofer@deloittece.com
+420 725 492 728
Actuarial and insurance
solutions
tstrasak@deloittece.com
+420 739 685 927
Michal Gerthofer Senior Consultant Tomáš Strašák Consultant
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