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.

Parametric insurance is gaining momentum in New Zealand and the Pacific as a crucial tool for managing risks associated with natural disasters such as cyclones, earthquakes, and flooding. Unlike traditional insurance, parametric policies trigger pre-defined pay-outs based on specific data, such as wind speeds or earthquake magnitudes, offering quicker and more efficient financial relief. This model is especially beneficial for regions with high exposure to catastrophic events. As climate change intensifies, parametric insurance is expected to evolve, leveraging advanced technology and data analytics to better serve the region's unique risk landscape.

Points of discussion:

1. How has parametric insurance gained traction in New Zealand, and what key factors have driven its adoption in these regions, especially given their vulnerability to natural disasters?

2. What are the primary challenges for insurers and policyholders when it comes to parametric insurance in New Zealand?

3. Looking ahead, how do you see parametric insurance evolving in New Zealand?

4. InsurTechNZ acts as a gateway to insurtech communities in Australia and in other key markets through the Global InsurTech Alliance.

Speaker Bio: Paul Barton, is the Managing Director at Bounce Insurance, New Zealand. Paul is an expert in parametric insurance and his company is the first insurance business that provides parametric solutions for Households and businesses in New Zealand. Paul’s experience supporting customers after the canterbury and Kaikoura earthquakes set the foundation for the development of Bounce by developing a parametric earthquake proposition with a focus on providing quick cash payments to policy holders after an earthquake event.

The landscape of employee insurance and benefits is rapidly evolving to meet the changing needs of today’s workforce. Employers are increasingly focused on holistic well- being, offering benefits that extend beyond traditional healthcare to include mental health support, wellness programs, and flexible work arrangements. The shift towards remote and hybrid work has further accelerated the need for adaptable benefits that cater to a distributed workforce. Rising healthcare costs and economic uncertainties challenge companies to strike a balance between cost management and offering comprehensive benefits that attract and retain talent. Innovative approaches are emerging, driving competitive advantages in employee satisfaction and engagement.

Points of discussion:

1. How have employee insurance and benefits packages evolved in recent years, particularly with the growing focus on employee well-being and mental health?

2.With the rise of hybrid and remote work, how are employers adapting their insurance offerings to meet the changing needs of a geographically dispersed workforce? Are there new types of benefits emerging to address these shifts?

3.In light of economic pressures and rising healthcare costs, how are companies balancing cost management with offering competitive, comprehensive employee insurance?

Speaker Bio: Sanchit Malik is the Founder & CEO of Pazcare, India’s leading employee insurance & benefits platform. Pazcare enables employers to offer products like group health insurance, life insurance, accidental cover, annual health checks, OPD & tax savings benefits via Pazcard. Pazcare is used by over 2000 companies including Mamaearth, Chaayos and many more.

Previous to Pazcare, Sanchit co-founded Townscript, India’s largest DIY events ticketing & registration platform. Townscript was acquired by Bookmyshow, a leading player in entertainment ticketing.

Welcome to "Health Matters," where we explore the evolving landscape of employee healthcare in the modern workplace. As businesses recognize the vital role of health and wellness in productivity and job satisfaction, new-age approaches to employee healthcare are emerging. From cutting-edge technologies like wearable devices and telemedicine to comprehensive mental health programs and holistic wellness initiatives, companies are reimagining how they support their workforce. In this episode, we delve into these innovative strategies, examining how they improve health outcomes, enhance employee engagement, and create a more supportive and sustainable work environment. Join us as we uncover what new-age employee healthcare truly looks like.

Points of discussion:

1. In today's fast-paced work environment, what are some innovative approaches companies are adopting to enhance employee healthcare and wellness?

2. What new products, technologies, and initiatives are you introducing to enhance employee well-being and healthcare accessibility for SMEs?

3. What role do mental health programs and resources play in the new-age employee healthcare landscape, and how can companies effectively integrate these into their wellness initiatives?

Speaker Bio: Kulin Shah, who is the Co-Founder & COO at Onsurity. With over 15 years of experience, Kulin has excelled in business P&L, category and product management, brand partnerships, growth, and venture capital. As an entrepreneur, he built a B2C startup and is actively involved in the startup ecosystem as an angel investor, mentor, and advisor. Kulin is adept at achieving P&L goals, launching new categories and products, negotiating complex deals, and driving user acquisition and growth. He has successfully built and led high-performing teams to achieve ambitious business goals and significant market share. His specialties include category management, business P&L, CXO level engagements, product management, strategic partnerships, and fundraising.

The integration of AI and machine learning (AIML) into actuarial pricing is transforming the insurance industry. AIML technologies enable insurers to analyze vast amounts of data with unprecedented speed and accuracy, leading to more precise risk assessments and pricing strategies. By leveraging advanced algorithms and predictive analytics, insurers can identify patterns and trends that traditional methods might miss, resulting in improved profitability and customer satisfaction. Despite challenges such as data quality and regulatory compliance, the continuous advancements in AIML promise a future where actuarial pricing is more dynamic, responsive, and tailored to individual risk profiles.

Points of discussion:

1. What are the key reasons behind the shift from traditional actuarial pricing methods to AI and machine learning-based approaches in the insurance industry?

2. Can you discuss the top risks in the insurance industry today and how new data sources, like IoT devices and social media, are being leveraged by AI/ML models to better evaluate these risks?

3. What are some quantifiable advantages of using AI and machine learning in actuarial pricing? Can you provide examples or case studies where these technologies have led to significant improvements?

Speaker Bio: Suguna Jayaraj, who is the Director of Pricing at MIC Global. Suguna is a passionate data science leader with a 15+ years of experience in insurance and banking industry. Before MIC Global, she lead analytics for Swiss Re Reinsurance solutions and ran the model development team of data scientists, data engineers, actuaries, geospatial scientists etc. in Bangalore. Prior to Swiss Re, she enabled marketing, product & claims team to realize the potential of advance analytics by increasing the top-line and the bottom line at AIG. Besides, she worked in multiple roles involving underwriting, capital modelling and wholesale banking in the BFSI space with HSBC and American Express. In addition, she has helped scale consulting start-ups and owned an e-commerce start up for a short stint. She was honoured as ’40 under 40 Data Scientists’ by Analytics India Magazine in 2021. She has co-authored two research papers in the insurance industry “ML based Geo-score to improve auto insurance pricing & Crime score for liability pricing”.

The hidden key driving the insurance industry forward for captives lies in a combination of technological advancements, regulatory shifts, and innovative risk management strategies. Emerging technologies, such as AI and blockchain, are enhancing efficiency, transparency, and decision-making processes. Regulatory changes are creating new opportunities for captives to offer tailored solutions and address specific business needs. Innovative risk management approaches are allowing captives to better assess and mitigate risks, providing a competitive edge. These factors together are transforming the captive insurance landscape, enabling businesses to navigate complex risks with greater precision and flexibility.

Points of discussion:

1.What emerging technologies are considered the hidden drivers behind the growth and evolution of the captive insurance industry, and how are they transforming traditional practices?

2.How have recent regulatory changes and market dynamics created new opportunities or challenges for captive insurers, and what key factors should industry leaders be paying attention to?

3.In what ways are captive insurers innovating their risk management strategies to stay ahead in a competitive landscape?

Speaker Bio: Jeff Radke, is the Chief Executive Officer at Accelerant. Jeff has nearly 30 years of experience in insurance, having started his career as an intern at Guy Carpenter. Before founding Accelerant to reimagine the way risk is exchanged, Jeff drove strategic initiatives at Argo Group for a decade, and was previously CEO of the PXRE Group. His comprehensive understanding of the insurance industry inspired him to address critical pain points in the underwriting industry through Accelerant’s more data-driven approach.