• Episode 101: Actuaries in Software

  • Oct 29 2024
  • Duración: 1 h y 8 m
  • Podcast

Episode 101: Actuaries in Software

  • Resumen

  • My guest for Episode 101 is Marcela Granados Lavoie, FCAS, CSPA, Principal - Global Head of Insurance at Databricks.

    The theme for the episode is 𝗔𝗰𝘁𝘂𝗮𝗿𝗶𝗲𝘀 𝗶𝗻 𝗦𝗼𝗳𝘁𝘄𝗮𝗿𝗲.

    Marcela and I covered the following topics:⁣

    ✅ Marcela’s motivation for pivoting to tech/software
    ✅ Why a software company would need an actuary
    ✅ The cloud and how it enables insurance modernization
    ✅ How generative AI can help yield value for insurance companies
    ✅ Using unstructured data for underwriting, claim, marketing, and distribution
    ✅ Marcela’s experience learning R and Python
    ✅ Programming and coding proficiency actuaries need today
    ✅ Tips for actuaries, data scientists, and data engineers to work collaboratively
    ✅ Origins and motivations for the Organization of Latino Actuaries

    Time Markers

    1:30: Transition from consulting to tech/software (impact of legacy systems on consumer sentiment, shifting policyholder expectations, and personalized experiences).

    5:21: Where actuaries add value in tech/software (strategic conversations, becoming trusted advisors, speaking language of insurance, and understanding customer pain points).

    7:10: Connecting horizontal product features to vertical insurance functions, understanding and quantification of customer use cases.

    12:10: Databricks as a data and AI platform for ingestion, transformation, curation, servicing, and consumption into downstream applications.

    14:40: Databricks’ compute capabilities (moving beyond batch to streaming), separating compute from storage, and evolving from ETL to business outcomes.

    16:11: Global Head of Insurance role (qualifying opportunities, briefing executives, influencing product direction, building solution accelerators, and demonstrating platform capabilities).

    24:01: Databricks’ customer profile, the rise of semi-structured data, and integration with other technologies.

    30:25: The cloud, the rise of big data (volume, variety, and velocity), modernization, and cloud migration trends.

    37:18: Generative AI explanation and homeowner’s premium modeling illustration (GLMs vs. neural networks).

    44:10: Generative AI use cases (accident descriptions, product recommendations, coverage verification, underwriting appetite, claim reporting, measuring intent, and customer triaging).

    49:36: The importance of programming and coding, open-source (R and Python), and combining programming languages with generative AI (ex. CoPilot).

    54:56: Collaborative illustration with actuaries (business hypothesis and analysis), data scientists (model fine tuning and algo testing), and data engineers (building data pipelines).

    1:01:18: The Organization of Latino actuaries, origins, and motivations.

    If you are an actuary seeking to work in technology/software, you want to listen to this.

    My Website: maverickactuary.com
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