The Actuarial Network at Cass (TANC) had the pleasure of welcoming Richard Purcell from Hymans Robertson who is ?also editor of The Actuary magazine to speak on Disrupting the life insurance market: What part can behavioural science and technology play? in September.
The Actuarial Network at Cass (TANC) had the pleasure of welcoming Richard Purcell from Hymans Robertson - who is ?also editor of The Actuary magazine - to speak on 'Disrupting the life insurance market: What part can behavioural science and technology play?' in September.
In his presentation, Richard referred to the relative disruption that life and critical illness markets have seen to date.
In particular, he talked about the challenges traditional insurance models face, including the suboptimality of current underwriting and product pricing due to changing risk, and the fact that customers do not value wellness and insurance.
He then discussed new solutions, using case studies to demonstrate early successes where behavioural science and technology have been applied. Related challenges such as tech reliability, customer appetite, regulation, and operational and reputational risks were also described.
The event concluded with a networking session.
At TANC's next event on 9 November, Otto Beyer from Guy Carpenter will talk about cyber risk. For details, visit www.tanc-cass.co.uk