In this IIL accident lecture Daniel Root will discuss how machine learning is improving business performance and changing roles in the property and casualty insurance industry.

The proliferation of data and analytical tools is driving a 4th industrial revolution which is transforming our economy, changing risk and creating opportunities for forward thinking insurers to grow profitable market share and create operational efficiencies. Seizing these opportunities will require insurers to develop new capabilities, evolve roles and change mind-sets. It is a complex journey, complicated by a great deal of hype in the media surrounding data, machine learning and artificial intelligence. We will explore distinguishing fact from hype – no, machine learning and artificial intelligence will not replace all of our jobs! – and creating a roadmap to success – hint: it doesn’t start with data and analytics! – to begin your journey.

By the end of this lecture members would have gained an insight into:

• The key success factors for creating business value from machine learning
• How underwriters’ roles will evolve in a machine learning world
• How machine learning insights are translated into business action

Speaker Bio:
Dan is a senior member of AXA XL’s global Strategic Analytics team, the division’s center of excellence for advanced analytics. He is a project lead for the team, which develops and implements machine learning models to improve decision making across AXA XL. Dan has over 10 years in the property and casualty insurance industry and has a BS in mathematics. Before joining AXA XL in 2016, Dan led the International Underwriting Analytics team at Chubb (formerly ACE).

Chair:
John Davis, Head of Analytics, Marsh.