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“We empower organizations to gain strategic advantage and disrupt business models by leveraging decision science through an agile
neoteric approach to data, machine learning and artificial intelligence”
© AMJ Global Solutions 2019
Contents• About me
• Current trends in the Insurance Industry
• GIGO lives
• What is ARGenesis
• ARGenesis Structure
• How ARGenesis works
• Examples of Machine learning at various stages
• Self Service Dashboards demo
• Customised analytics solution
• AI powered EDA demo
• Our Partner in Azerbaijan - ButaBroker
• Questions
• Acknowledgment
© AMJ Global Solutions 2019
• Qualified Actuary with 20 years in the Insurance and Re-Insurance sector. Held roles up to C-Level.
• Founded AMJ Global Solutions Group, with an aim to digitally disrupt the Insurance market. And conceptualised ‘ARGenesis’, a proprietary data management ecosystem.
• Partnered with FTSE clients to provide them consultancy on various insurance aspects such as risk, pricing, reserving, capital, underwriting, product innovation.
• Chairman of the IFoA (Institute Faculty of Actuaries) data science committee.
• The qualities people say I have - trust, spontaneity, energy, dynamism.
About Me
© AMJ Global Solutions 2019
© AMJ Global Solutions 2019
Increased Customer Focus• Finding new, retaining old customers• More customer Information• Greater customer involvement
Inclusion of IoT and Sensor Data• Increased Focus on sensors to prevent
and reduce losses
Harnessing the power of cloud• BOT and AI development made easy• SaaS helps reduce IT spends
Master Data Management• Better data foundation leads to
building of better data models• Helps extract more insights from
available data• Faster and better corporate
reporting
Building a Data culture• Self service dashboards• Enhancing and breeding
the citizen data scientist culture
Data and Information protection• Keeping the data and
information safe and regulation compliant
Current trends in the Insurance Industry
© AMJ Global Solutions 2019
© AMJ Global Solutions 2019
BIASGarbage
IN
More BIAS More Garbage
OUT
ALL THE DATA SCIENCE BLING
While Fantasy is a nice place to be, the reality is that 80% of all data science effort is in transforming and cleaning data.
GIGO ! Lives On .
© AMJ Global Solutions 2019
Self Service and Interactive Data Dashboards
Data Driven Strategic Advice
Propose New Insurance Products
Real Time Rate Monitor and Cycle Improvement
Improve existing Products
Automatic Management Information Reports
More Credible Actuarial Calculations
Artificially Intelligent Insurance Products
Risk and Actuarial Data Pipelines
Enter ARGenesis
© AMJ Global Solutions 2019
• Strategic Advice• Increased Business Value• Cost and time savings • Competitive Advantage• AI and BOT development• Reduction of incurred costs• Reporting Framework
t = 0 t = Few Minutes
• Offered as SaaS or On Premise
• Leverages existing investments in Analytics tools and other automation initiatives
• A Team of Experienced Data Science experts, IT Architects & qualified Actuaries – ITAC
• Fully Customized – Fit for purpose
Social Data
Existing data store
IoT and Sensor Data
Processing time as short as a few minutes
Data Frame
Data Warehouse
Data on Cloud
Small projects
API
API
AI Enabled Interactive Analytics and Reporting
PrepareData Set
DeployModel
Machine Learning
ARGenesis Structure
© AMJ Global Solutions 2019
How ARGenesis works
© AMJ Global Solutions 2019
Missing Data is a Nuisance, But not for us
Not only do we employ Machine Learning techniques such a Predictive Mean Matching, Classification and Regression Trees etc. to calculate Missing Data, we also employ similar techniques to calculate IBNR and IBNER during the process of Loss Development.
Examples of Machine learning Filter – Stage 1
© AMJ Global Solutions 2019
© AMJ Global Solutions 2019
We employ Machine Learning to bring only the Relevant Data for further analysis. We call this the GREEN CODE – Less but relevant data – lesser data center energy consumption and Better data models.
Examples of Machine learning Filter – Stage 2
© AMJ Global Solutions 2019
© AMJ Global Solutions 2019
Association rules mining using machine meaning helps us build recommendation engines and prediction models that help cross product selling and making accurate predictions, for example TP calculations and more!
Examples of Machine learning Filter – Stage 3
© AMJ Global Solutions 2019
Examples of a data driven insight Machine learning Filter – Stage 4We were approached by an Insurer to carry out a reserving review in order to determine technical provision allocation. There were many challenges with respect to data being used to its optimal level whilst maintaining the current processes.
ActionsWe projected adequate IBNR/IBNER using a machine learning approach within A&E which was blended at both aggregated and granular level.
ResultsWe were able to secure an improvement within their LDF/CDF allowing a healthier accuracy, which provided better support with risk reserves for the TP (technical prevision).
LossDevelopment
Deviation from “Average” Profile
Improved existing risk reserve for technical
provisions
Improved existing risk reserve for technical
provisions
13% overall technical provisions improvement
13% overall technical provisions improvement
Achieved better TP calculations by applying non traditional actuarial
approach
Achieved better TP calculations by applying non traditional actuarial
approach
© AMJ Global Solutions 2019
We harness the Power of Open Source – ‘No Black Box here’
http://127.0.0.1:5859/demo2.Rmd© AMJ Global Solutions 2019
We don’t reinvent the wheel, There is enough AI already – Use it !
We integrated Microsoft and Apple’s Natural language processors Cortana and Siri with out AI
EDA process
© AMJ Global Solutions 2019
https://www.amjglobalsolutions.com/blog Can integrate with your existing Analytics solution
Self Service Dashboards – Helps promote Data Science usage by Actuaries
© AMJ Global Solutions 2019
Our Partner in Azerbaijan - ButaBrokerWe are helping clients like ButaBroker lay the data foundation by integrating state of the art data and IT practices with several years of actuarial and Insurance experience.
We are cutting down the speed with which we can transform data for the AI and ML models that then give rise to new age Insurance products. Mobility and AI enabled products
We are highly sensitive to the issue of data models using suboptimal and unclean data and have developed process and practices through the data scientists, IT experts and Actuarial
We are empowering Actuaries with self service data science
We are committed to take the insurance sector to the next stage – ‘Responsibly’
© AMJ Global Solutions 2019
© AMJ Global Solutions 2019
Acknowledgment
“Thank you to ButaBroker our partner for inviting me to present my take on the insurance revolution and lets make Azerbaijan a world leader in the InsureTech space” Ali Bayramov, CEO and President, ButaBroker
Questions?
© AMJ Global Solutions 2019
Thank you !
Asif John
+44 20 3488 1499
[email protected] www.argenesis.com
Foxhunter Drive, Milton Keynes MK14 6GD, United Kingdom