Actuaries using advanced math and financial theory to analyze and understand the costs of risks have been the stalwarts of the insurance business forever. Indeed, the analytics performed by actuaries are critically important to an insurer’s continued existence and profitability.
Over the past 15 years, however, revolutionary advances in computing technology and the explosion of new digital data sources have expanded and reinvented the core disciplines of insurers. Today’s advanced analytics in insurance push far beyond the boundaries of traditional actuarial science.
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