Do Data Lakes hide Loch Ness Monsters?

I had a discussion with a client recently about the virtues of ensuring data written into a data warehouse is rock solid and understood and well defined. My training and experience has given me high confidence that this is the right way forward for typical actuarial data.  Here I’m talking in force policy data files, […]

What is Systemic Risk?

Systemic risk is risk to the “system” in some way. In the financial services world, it is often defined in one of two ways: The risk of contagion, where failure of an entity leads to distress or failures of others [micro prudential] The risk of an event that can trigger serious consequences for the real economy. […]

Board game recommendations (and reasons to use them)

I’ve played plenty of board games in my life. I’m not (only) talking about Monopoly. I went to Cambridge (to visit, very sadly, not to study) in 2003. I found an awesome board game store and tried to buy Diplomacy.  The incredibly wise assistant basically forced me to buy Settlers of Catan before he would […]

Modelling one side of a two-sided problem

Ah models, my old friends. You’re always wrong, but sometimes helpful. Often dangerous too. A recent article in The Actuary magazine addressed whether “de-risking in members’ best interests?”  I say “recent” even though it’s from August because I am a little behind on my The Actuary reading. In the article, the authors demonstrate that by […]

Credit Life regulations and reactions (1)

Credit Life regulations have been live for long enough now that insurers are starting to feel the impact and the shake-up of amongst industry players is starting to emerge. There have been plenty of debate around the regulations, in part because of the dramatic financial and operational impact they will have, and partly because of […]

Zero deductibles and innovation from insurtech

Insurance is misunderstood. Consumers ascribe malice where often practical restrictions are to blame. Take deductibles for example. A deductible in an insurance claim decreases the number of claims an insurer has to deal with. More than that though, it reduces the claims where the administration costs of checking out the claim and paying it are […]

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