Analytics for Insurance USA

(1)

Analytics for Insurance USA

Accelerate underwriting, pricing & claims functions to

understand your customers, improve decision-making &

reduce risk exposure

Integrate analytics into the insurance value chain

from the C-suite:

join forces of business and technical

leadership to deliver the insurance company of the

future

Encourage “management by analytics”

to overcome

departmental or product-specific views of customers,

update legacy systems and reduce operating spend

over the enterprise

Capitalize on emerging technologies

to improve pool

optimization, create dynamic pricing models and

reduce loss and claims payout

Explore external data sources

to better understand

customer risk, pricing, attrition and opportunities in

emerging markets

Identify profitable customers,

measure satisfaction

and loyalty and drive cross/up-sell programs

OPEN NOW

for full agenda and speaker details

2-day Conference & Exhibition | 19-20 March 2014 | Hilton downtown Chicago

25+ Expert Speakers including:

Brian Cohen

Chief Executive Officer

Pacific Specialty Insurance Company

David Zona

Chief Underwriting Officer

Fireman's Fund Insurance Company Upendra Belhe Chief Analytics Technology Officer Chubb

Exclusive Platinum

Sponsor:

Gold Sponsor:

Silver Sponsor:

Exhibitor Sponsor:

Supporting Sponsor:

Bob McPherson

Director - P&C Actuarial Research

Nationwide Insurance

Piyush Singh

Chief Information Officer

Great American Insurance

Grant Little

Director - Claims Technology & Analytics

National General

Wayne Wendling

Vice President -

Actuarial/Strategic Research & Economic Modeling

CNA

Elizabeth Riczko

Group Analytics Leader

(2)

With the insurance industry being a century’s old business, it’s often difficult to embrace change – especially change that alters the foundation the business was built on…data.

Events such as Sandy, Katrina and 9/11 have forced the industry to reevaluate their risk models and take a deeper look into their business investments. These hurdles have undoubtedly resulted in intensified competition, more fickle customers and heightened economic sensitivities.

The ability to leverage data sources for more effective underwriting, pricing, claims and marketing decisions has become central to the ongoing success of all insurance companies. In principle, advancements in technology have pushed the industry one step closer to uncovering the true value of this data. In practice, this is easier said than done.

Analytics for Insurance USA focuses in on a new era of opportunity for the insurance industry. We’ve brought together innovative insurance leaders who are already using big data and analytics across their organizations for improved results. The case studies and strategies presented will arm you with both the knowledge and tools you need to transform your business through data.

Come join the community, explore the new approaches to analytics based-decision making and work towards creating a truly customer-focused business.

I look forward to welcoming you to Chicago in March!

Brittany Reyes

Director | Data Driven Business 201-234-4755

[email protected]

Ignite Competitive Advantage with Analytics Integration

In a recent industry study insurance executives were asked which

functional areas will be the focus for predictive modeling in the

next 2-3 years. The two functional areas at the focus are pricing

and underwriting followed by claims then marketing.

As the CEO of an insurance company it's critical to me that we integrate data analytics into our day-to-day operations. It's no longer a nice to have - it's a must for every carrier, whether big or small. The challenge for many companies is overcoming the natural inclination to be intimidated by the perceived complexity of building a successful data driven strategy. In fact, once you get beyond the fancy vocabulary, a good data driven strategy comes down to the ability of operating executives to understand the data they want to analyze.

Brian Cohen, CEO, Pacific Specialty Insurance Company

It’s not exclusively about predictive analytics and technical pricing models. We have to thoughtfully consider the blend between art and science and the effective/pragmatic implementation of the tools that we build. The "art" refers to the expertise and experience of the underwriter, and the “science” involves model development and the technology required to deploy them. Taken together, the models act as a tool to inform and support our underwriters in risk selection and pricing decisions.

David Zona, Chief Underwriting Officer,

Fireman's Fund Insurance Company

79%

71%

39%

35%

17%

5%

Pricing

Functional areas in the focus of predictive modeling in the next 2-3 years

*an ISO & Earnix Survey

Underwriting Claims Marketing Reserving Other

Online:

https://secure.datadrivenbiz.com/insurance-analytics/register.php

Email:

[email protected]

Phone:

(201) 234-4755

3 EASY WAYS TO REGISTER

Dear Colleague,

(3)

An unprecedented line-up of industry experts

For more information on the event visit the conference homepage at:

www.datadrivenbiz.com/insurance-analytics

Brian Cohen

David Zona

Fireman's Fund Insurance Company Upendra Belhe Chief Analytics Technology Officer Chubb Bob McPherson

Director - P&C Actuarial Research

Nationwide Insurance

Partha Srinivasa

Houston Casualty

Piyush Singh

Great American Insurance

Grant Little

Director - Claims Technology & Analytics

National General

Wayne Wendling

Vice President -

CNA

Elizabeth Riczko

Westfield Insurance

Munish Arora

Manager - Product Analytics

CSAA Insurance Group

Nora FitzGerald

Vice President - Statistical Reporting,Corporate Actuarial

CAN

Paul Ballew

Chief Data & Analytics Officer

Dun & Bradstreet

Heather Mills Web Analytics Administrator American Family Insurance Shekhar Shastri

Head of Innovation Lab

Sun Life Financial

Wade Bontrager

EagleEye Analytics

Seth Earley

Earley & Associates

Nathan Golia

Senior Editor

Insurance & Technology

Brij Masand

Actionable Analytics Gregory Short President DataDNA John Papadia President

Clarity Solution Group

Sergei Ananyan

Megaputer Sundip Gorai Vice President - Analytics and Information Management L&T Infotech Deepak Ramanathan,

Vice President - Global Consulting, FSI

Fractal Analytics

Aaron Brandenburg

Economist & Statistical Information Manager

NAIC

Robert Passmore

Senior Director - Personal Lines Policy

Property Casualty Insurers Association of America

(4)

Insurance Industry Outlook

Conference Chairman: Stephen Applebaum, Insurance Claims Solutions

Matured Role of Analytics – A Chubb

Perspective

Analytics has evolved substantially in the P&C insurance industry. Implementation of analytics isn’t just an easy issue to solve. The team needs to have a keen understanding of technology and operationalization issues. Additionally, analytics is disruptive. However, it is good only in the way our business would want to process it. Humility and the ability to listen to business users are needed to succeed. Analytics is turning out to be more of a combination of common sense, empathy, maturity and patience rather than mathematical science alone. Upendra Belhe takes us through his journey and evolution of the Chief Analytics Scientist role.

Upendra Belhe, Chief Analytics Technology Officer, Chubb

Differentiation is Critical in the New

Insurance Landscape

The operating background carriers face remains extremely challenging due to the tepid economic recovery, pronounced structural change led by rapid technological innovation and increasing competition in most business lines. In response carriers are searching for new approaches to deepen customer relationships, improve operating efficiencies and find additional ways to

differentiate in the marketplace. In this session Paul Ballew, Chief Data and Analytic Officer, will provide his unique perspective on:

• Leveraging big data through analytics capabilities to provide actionable insights • Adopting a transformational approach to analytics

• Uncovering what’s next in the “big data” journey and where analytic methods and capabilities are heading for insurance carrier

• Acquiring the necessary components to accelerate the entire analytic journey

Paul Ballew, Chief Data & Analytics Officer,

Dun &Bradstreet

Bring analytics strategies to life

The key to successful analytics strategies starts with the technology, people and plan in place. In order to track the performance of personal and commercial lines proper measurable must be implemented.

• Explore trade-offs between better solutions and the best solution

• Discuss what works and what does not – how to work around setbacks

• Deﬁne a roadmap for eﬀective communication to multiple stakeholders

David Zona, Chief Underwriting Officer, Fireman’s Fund Insurance Company

Lead or Follow: How to build your

analytics dream team to drive insight,

impact, and innovation

• Understand the different roles that can be configured within an analytics team to solve business problems across the insurance value chain.

• Review examples of short-term and longer-term disruptions that are changing the insurance industry

• Learn how you can institutionalize and increase analytical sophistication to enable a data-driven enterprise

• Explore ways to conﬁgure your analytics dream team to address underwriting, pricing and claims across business analysts, data science, big data engineering and visual story-telling.

Deepak Ramanathan, VP, Head Insurance Practice, Fractal Analytics

Define analytics success & the

customer life cycle

From claims, pricing, marketing, fraud and actuarial functions, understanding your customers is paramount for every business cycle.

Collaboration between departments ensures customer understanding is at its best. Feeding insights into other departments to achieve the ultimate “360 degree view” is what will lead to a complete understanding.

• Move decision-making to a more a collaborative and semi-automated system

• Utilize analytics to asses which customers are a “good bet” through claims, risk, and pricing integration

• Measure and monitor customer satisfaction and loyalty to feed back into pricing

• Make better pricing and marketing decisions by understanding policyholders’ purchasing, retention and conversion behavior

• estimating future customer tenure and life time value

Moderator: John Papadia, President, Clarity Panelists: Wade Bontrager, CEO, EagleEye Analytics

Brij Masand, CEO, Actionable Analytics Corp Munish Arora, Senior Manager, Product Analytics,

CSAA

Analytical Use Cases and Methods across

P&C Insurance Company Functions

Predictive modeling is often spoken of as if it was a unified discipline. However, business problems, outcomes, tools and methods can vary greatly by functional area, as well as the business and technological knowledge required by the analysts. Explore how analytics must be approached differently for common functional departments in a P&C insurance company.

• Addressing methods, tools and outcomes in pricing, underwriting, fraud, security, risk management, and customer analytics

Bob McPherson, Director, P&C Actuarial Research Analytics, Nationwide

Five New Buzz” - Soul of a Future

Integrated Advanced Analytic Ecosystem

related to Insurance Business

Applications

• The “5 new buzz” - Machine Learning, Complex Event Processing, Big Data, Mobile BI and Cloud BI, coupled with Business Intelligence and Data Warehousing solutions will boost Analytic Intelligence applications for insurance related to Fraud, Claim Intelligence from Machine Sensor data, Customer Analytics and other areas. • The future of analytics will be driven by a combination of analytic constructs – Predictive Mining, Complex Event Processing, Rule based Alerts, Data Warehousing and Business Intelligence and knowledge dissemination via cloud and mobile BI applications. The session will discuss some of the business applications for the above construct.

Sundip Gorai, Head of Analytics & Insurance Practice, L&T Infotech

Investment Risk Analytics

Life insurance firms build asset portfolios to match expected liabilities far out in future. Tracking error between the portfolio assets and the hedges are an ongoing challenge for the portfolio manager. On another front, investment risk analysis is generally based on discrete theoretical scenarios or historical relationships, which are not adequately rich to predict future portfolio behavior, especially in times of crisis. • Driving Predictive analytics to transform buy-side portfolio management through modeling of investment risk

• Leveraging diverse data sets

Shekhar Shastri, Head of Innovation Lab,

Sun Life Financial

Find a happy medium between

regulatory & ethical standards

Working within the confines of regulatory barriers can make it difficult to spur innovation and improve customer intimacy. How do we drive innovation and new insights while streamlining with legislation? At what point do you know your customers too well before sacrificing the B2C relationship?

• Explore the diﬀerences between personalized and de-personalized data

• Ensure your data fosters customer consent and trust

• Share data across borders – examine the role of competition law

Moderator: Bob Passmore, Senior Director – Personal Lines Policy, PCIAA

Panelists: Aaron Brandenburg, Economist & Statistical Information Manager, NAIC

Paul Ballew, Chief Data & Analytics Officer,

Dun &Bradstreet

PANEL

(5)

Successfully implement data

analytics into your day-to-day

operations

The challenge for many companies is to overcome their natural inclination to be intimidated by the perceived complexity of building a successful data-driven strategy. In fact, once you get beyond the fancy vocabulary, a good data-driven strategy requires operating executives to understand the data they want to analyze. In order to achieve this strategy you must better understand the process and tools you can use to integrate data analytics into your operations for maximum results.

Insurance data and analytics skills,

competencies and Roles

An explosion of volume and variety of information, and desire to consume such information at the same speed as it is produced at, creates a unique opportunity and challenges for the insurance companies. To overcome the challenges and maximize the returns, the insurance analysts are diversifying into variety of roles, skills and competencies to build competitive edge for their enterprise. This session will review what such roles look like as the data driven culture embeds deeper in the insurance enterprises

Munish Arora, Senior Manager, Product Analytics,

CSAA

Set up the information and

organizational infrastructure to deliver

maximum value from all your internal

data

In a perfect world, if underwriting were to tap into marketing, claims and actuarial databases they could ultimately achieve the holistic view of the customer. How can we use analytics to improve customer transparency, organizational efficiency and overcome siloed departments? Additionally, how do we mine data out of legacy systems to extract value from customer data to improve

business decisions? • Move from siloed systems to work across

organizational borders

• Mine data out of legacy systems to support granular data

• Address issues and challenges around integration of structured and unstructured data • Deﬁne leadership accountability and responsibility with a company-wide analytics strategy

Moderator: Seth Earley, CEO, Earley & Associates Panelists: Elizabeth Riczko, Group Analytics Leader, Westfield Insurance

Gregory Short, President, DataDNA Nora Fitzgerald, VP, Statistical Reporting, Corporate Actuarial, CNA

Bob McPherson, Director – P&C Actuarial Research, Nationwide

Text and Data Mining Solutions for

Insurance

Business operation of an insurance company generates wealth of data about contracts, claims, arbitrations, litigations, regulations, customer communications and survey responses. These data can provide invaluable business insights and facilitate informed decisions. However, the amounts of data one needs to analyze are enormous, its semantics complex, and the main portion of these data is stored in the form of free text documents, which cannot be efficiently processed by traditional analytical tools. This talk illustrates how innovative advanced analytics techniques are used to address typical data analysis challenges in insurance. We provide an outline of key text and data mining steps and techniques and present in more detail several important business solutions incorporating analytics as their cornerstone.

We discuss solutions performing the prediction of litigation and subrogation probability, and fraud detection based on claims data, the analysis of customer communications and surveys data, collaborative databases, and social media data.

Sergei Ananyan, CEO, Megaputer

Claims analytics

Part 1: Overcome the challenges to win

big with claims analytics

Claims Departments all have an ocean of data and mountains of reports. Unfortunately, most struggle to go beyond basic reporting and are poor at delivering "actionable information” – why is this so difficult?

• Learn the single most important thing you can do with claims systems and supporting systems • Understand what must be done to successfully deploy predictive analytics

• It starts with a team: who to hire and how to align them?

• Hear best practice for setting KPI’s, report distribution, dashboard creation and scorecard implementation

• Share information eﬀectively to Establish a Claims Analytics Culture

Moderator: Stephen Applebaum, Insurance Claims Solutions

Panelists: Grant Little, Director of Claims Technology & Analytics, National General Wayne Wendling, VP, Actuarial/Strategic Research & Economics Modeling, CNA

Web Data 101: Learn what’s out there

and how to use it

New to web data analysis? Not sure what data points to ask for? In an evolving world of cross channel analysis and DMP adoption, the online world meets offline. Find out the robust amount of information included in most web analysis tools, and learn how data can be leveraged for risk assessment, discounts, and more.

• Factor in online behavior when create pricing models

• Use online activity to evaluate attrition factors • Leverage site and social media data to bring propensity models up to speed

Heather Mills, Web Analytics Administrator,

American Family Insurance

Beyond Phones: A World of

Potential in Smart Devices

Insurance companies are by now fully aware of the transformative effect the smartphone has had on consumers’ relationships with their insurers, their personal data, and their digital lives. But the effects don’t end at the rounded corners of the latest must-have mobile handset. A wealth of commonly used items, from cars to refrigerators to blood-pressure cuffs, are being equipped with location-aware, always-on, data-collecting (and –transmitting) sensors. The availability of that kind of data has the potential to rewrite the way insurers evaluate and monitor risk. In this panel discussion, we’ll discuss extant and theoretical uses of data from smart devices, as well as well as privacy, security, regulation and infrastructure.

Moderator: Nathan Golia, Senior Editor, Insurance & Technology

Panelists: Piyush Singh, Chief Information Officer,

Great American Insurance Group

Partha Srinivasa, Chief Information Officer,

Houston Casualty

Shekhar Shastri, Head of Innovation Lab, Sun Life Financial

For more information on the event visit the conference homepage at:

www.datadrivenbiz.com/insurance-analytics

FOCUSED SESSION CASE STUDY

PANEL

(6)

Analytics for Insurance USA provides you with a remarkable opportunity to showcase your products and solutions to a host of key potential clients with real spending power.

Ensure your company is represented at this

exceptional event!

Contact Data Driven Business to take advantage of our sensational sponsorship packages and get your products or services seen by the right people!

• Drive home your message - limited speaking slots available • Pre, during and post conference exposure on marketing material and web site to 100,000+ contacts

• Assure 1:1 interactions with a private dinner or workshop • Branding and marketing exposure through lunch, coﬀee or networking party sponsorship

• Showcase your products and services with an exhibition booth

• Cost eﬀective messages with inserted mail pieces

Stay ahead of the competition and secure your place

now!

You will benefit from multiple opportunities to talk with the clients and prospects you want to do business with and kick start your sales. All under one roof and all in just two days - saving you both time and money!

Call me now to find out how you can get involved! Brian Smith

Vice President, Business Development Data Driven Business

Telephone: 201-234-4764

Email: [email protected]

DO YOU OFFER AN ANALYTICS

SOLUTION?

HERE IS A SAMPLE OF THE

LEADING BRANDS WHO ATTENDED

DATA DRIVEN BUSINESS EVENTS IN

THE PAST:

Group Discounts

More heads are better than one! Make sure you have

the capacity to take full advantage of networking &

learning opportunities!

Do you qualify for a group discount?

Contact Brittany Reyes at [email protected]

or (201) 234-4755

• Underwriting

• Pricing

• Claims

• Fraud

• Actuarial research

• Analytics

• Data/science

• Technology

• Operations

• Product

management

• Marketing

• Web/mobile/digital

channels

Who Should Attend?

(7)

Analytics for Insurance USA

Date & Venue

March 19-20th, Hilton Chicago

Hotel Discounts

We have negotiated special room

rates at the hotel. Reservation and

price details will be sent to you when

you register

Group Discounts

Come along with members of your

team and take advantage of Data

Driven Business' special group

discounts. The more attendees you

sign up, the more money your

company saves! Contact us here at

at 201-234-4755

for more details

Cancellation Policy

Passes are transferable without any charge. Cancellations by February 21st, 2014, 2013 incur an administrative charge of 25%. If you cancel your registration after September 6th, 2013 we will be obliged to charge the full fee.

Please note – you must notify Data Driven Business in writing of cancellation or we will be obliged to charge the full fee. All cancellation requests should be emailed to

[email protected]. The organizers reserve the right to make changes to the program without notice.

Terms and Conditions

http://fcbi-data-driven-business.ndpclient. com/terms-and-conditions-0

Online:

https://secure.datadrivenbiz.com/

insurance-analytics/register.php

Email:

Brittany Reyes

[email protected]

Phone:

Brittany Reyes on 201-234-4755

$300

Super Early Bird

(expires Dec. 20th) Full Price

Early Bird (expires Jan. 24th) Last Chance (expires Feb. 21st)

EASY WAYS TO

REGISTER TODAY

3 Vendors/Consultants/Analysts

$300 Platinum Pass

• Access to conference room • Networking lunch and coﬀee breaks • Evening drinks reception access • Access to exhibition hall

• Access to presentation slides post-conference • Access to audio recordings of every conference session

• Access to Pre-conference workshop: schedule TBA

Gold Pass

Conference Materials

• Access to presentation slides post-conference • Access to audio recordings of every conference session $2,195 $1,995 $1,995 $1,795 $1,695 $1,495 $1,795 $1,595 MOST POPULAR Full Price

Insurance Carriers

Platinum Pass

• Access to Pre-conference workshop: schedule TBA

Gold Pass

Conference Materials

• Access to presentation slides post-conference • Access to audio recordings of every conference session $1,795 $1,595 $1,595 $1,395 $1,295 $1,095 $1,395 $1,995 $1,795 $1,495 $1,595 $1,195

Your Choice of Registration Package

Super Early Bird

(expires Dec. 20th) (expires Jan. 24th)Early Bird (expires Feb. 21st)Last Chance Silver Pass

$1,795 $1,595

$1,295 $1,395

Silver Pass

Register In Minutes at:

www.datadrivenbiz.com/insurance-analytics

NO LONGER AVAILABLE

(8)

Analytics for Insurance USA

Accelerate underwriting, pricing & claims functions to

understand your customers, improve decision-making &

reduce risk exposure

2-day Conference & Exhibition | 19-20 March 2014 | Hilton downtown Chicago

Media Partners:

Extensive research:

Three months of meticulous research

with leading financial customer analytics experts has

ensured that this agenda will tell you exactly what you

need to know in order to profit from customer analytics

Real Networking:

Over 250 subject matter experts set to

attend. Learn from, engage, and build your business with

over 10 networking hours built into the agenda

High caliber speakers:

Hear from over 30 nationally

recognized financial experts in analytics and how they’ve

utilized them to increase their ROI

Profitable solutions:

Products showcased at the

exhibition could be exactly what you are looking for to

increase profitability, customer satisfaction, and up-selling

your customers

Stimulating debate:

The conference is structured to

encourage active participation and Q&A. Exchange ideas

with speakers and fellow delegates to get all of your

questions answered

25+ Expert Speakers including:

The world's largest insurance community

December 20th

Brian Cohen

David Zona

Fireman's Fund Insurance Company Upendra Belhe Chief Analytics Technology Officer Chubb Bob McPherson

Director - P&C Actuarial Research Nationwide Insurance Piyush Singh Chief Information Officer Great American Insurance Grant Little Director - Claims Technology & Analytics

National General

Wayne Wendling

Vice President -

CNA

Elizabeth Riczko