Predictive analytics has revolutionized the insurance industry, enabling actuaries to leverage vast amounts of data for more accurate risk assessment and decision-making. With AI-powered tools, actuaries can enhance traditional statistical models to process real-time data, predict future trends, and create personalized insurance solutions. These advancements not only improve pricing strategies and underwriting efficiency but also help in fraud detection and claims management. However, challenges remain in ensuring data quality, model interpretability, and regulatory compliance. As AI continues to shape the industry, actuaries must adapt by embracing new technologies and acquiring cross- functional skills to remain pivotal in this transformation.

Points of discussion:

1.How has AI-driven predictive analytics enhanced traditional actuarial methods for risk assessment and pricing in insurance?

2.What challenges do actuaries face when integrating AI tools into predictive models, particularly in terms of data quality, interpretability, and regulatory compliance?

3.How do you see the collaboration between actuaries and data scientists evolving as AI continues to transform predictive analytics in the insurance sector?

Speaker Bio: Akshay Dhand is currently working as the Appointed Actuary for Canara HSBC Life in India. He has over 21 years of total work experience across various countries and companies. Before joining Canara HSBC Life, Akshay worked with Deloitte LLP and HSBC Life in the UK. He has extensive expertise in all areas of actuarial work such as valuation, product development and pricing, business planning, experience analysis, risk management, capital management, modelling, reinsurance and ALM. He is also experienced in putting together and managing large teams across multiple work streams as well as cross-functional projects. He holds a Masters in Actuarial Science with Distinction from City, University of London and Bachelors in Mathematics from St Stephen's College, University of Delhi. He is a Fellow of the Institute & Faculty of Actuaries (UK), a Fellow of the Institute of Actuaries of India and a Fellow of the Insurance Institute of India. He is also a Council Member of the Institute and Faculty of Actuaries (UK) as well as a Member of the Expert Committee on the School of Actuarial Science constituted by Institute of Insurance & Risk Management.

Embedded insurance is transforming the microfinance sector by integrating coverage directly within financial products, making insurance more accessible to underserved populations. This model streamlines the process, allowing microfinance institutions (MFIs) to offer protection against risks such as health issues, crop failure, or unforeseen events, bolstering clients' financial stability. The seamless inclusion of insurance fosters trust, supports client retention, and promotes financial resilience. However, challenges such as awareness, technology adoption, and distribution remain. Successful implementation requires innovative partnerships, education, and tailored products that align with clients' needs. Embedded insurance, thus, holds potential as a powerful tool for advancing financial inclusion globally.

Points of discussion:

1.How do you see the role of embedded insurance evolving within the microfinance sector, and what potential does it hold for enhancing financial inclusion for underserved communities?

2.What challenges do microfinance institutions face when integrating embedded insurance solutions, and how can they be effectively addressed to ensure seamless implementation and maximum impact?

3.Can you share successful case studies or examples where embedded insurance has significantly improved financial resilience for MFI clients?

Speaker Bio: Amit Boni, who is the Co-founder & CEO of Ensuredit. Amit brings leadership experience in technology, credited with turning around Motorola India’s position in the Indian market by revitalizing the brand and gaining market share within 2 years, with innovative and disruptive strategies. Subsequently, at Smartron as Vice President for Sales and Marketing, Amit significantly scaled the tech businesses. He is uniquely positioned to lead Ensuredit's mission of transforming the global insurance ecosystem through deep technology-driven solutions.

Embedded microinsurance is reshaping the insurance landscape by seamlessly integrating coverage into everyday products and services, making protection accessible to underserved populations. This episode explores how embedded microinsurance models are empowering consumers, particularly in emerging markets, by providing affordable, on-demand insurance solutions. We delve into the role of technology - AI, IoT, and blockchain - in enabling this shift, examine real-world examples of successful implementations, and discuss the potential for scaling. Tune in to discover how embedded microinsurance is driving financial inclusion and what the future holds for this transformative approach in the insurance industry.

Points of discussion:

1. How is embedded microinsurance transforming the way underserved populations access financial protection, and what are the key advantages of integrating it into everyday products and services?

2. What role do emerging technologies like AI and blockchain play in scaling embedded microinsurance solutions, and how do they contribute to improving customer experience and risk management?

3. Could you share some real-world examples where embedded microinsurance has been successfully implemented, and what lessons can we learn from these use cases for broader adoption in different markets?

Speaker Bio: Harry Croydon is the co-founder and COO of MIC Global, a company designed to transform the insurance industry by integrating micro-insurance products into various digital and traditional platforms. MIC aims to close global protection gaps by offering affordable, accessible insurance solutions for people and small businesses, especially in the gig and sharing economies.

With a career rooted in technology and insurance, Harry worked at Microsoft in the 90s and later started a Lloyd's broker focused on cyber insurance. Following the 2008 financial crisis, he recognized the growing need for flexible, on-demand insurance for the gig economy, leading him to launch MIC Global. Today, MIC leverages AI and automation to deliver high-volume, efficient insurance solutions.