Developing mortality, morbidity and lapse rate tables can be fun! In his presentation, Kai Kaufhold, a recently joined member of the SAS, will demonstrate how statistical analysis at the level of the individual can make the crazy responsive actuary even more responsive and provide in-depth insights into the experience of the portfolio of a life or health insurer at a granular level. The statistical methods used in this case study form the missing link between traditional actuarial analysis and predictive modelling.
Retaining information at the level of the individual insured life makes it possible to combine ‘small data’ which is already in the companies’ policy administration systems with ‘big data’ from external data sources to generate powerful predictions on the performance of insurance risks and policyholder behavior.
Kai will give a brief introduction into the theory of advanced portfolio analytics, and then demonstrate a case study in R.