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The Actuary The magazine of the Institute & Faculty of Actuaries

A lot in the TANC


In November last year, The Actuarial Network at Cass (TANC) held an event with a presentation by Mike Brockman of ThingCo, called ‘From Generalised Linear Models to Intelligent Voice & AI … and Building Three Businesses In Between’.

With close to four decades of experience in the motor insurance sector, Brockman is one of the world’s experts in this field. In his talk, he described the early actuarial challenges to motor insurance pricing and the development of generalised linear models as a pricing tool. Having spent several years as a pricing actuary, in 1993 he co-founded EMB, an actuarial consultancy that grew to encompass 11 offices and more than 300 staff around the world. He was instrumental in developing new pricing techniques and their applications to risk and demand modelling within the actuarial profession worldwide.

Brockman went on to talk about telematics and why he started insurethebox, the world’s first telematics-only motor insurer, selling more than 800,000 black box policies and writing more than $1bn gross written premiums.

Having sold insurethebox to the MS&AD Group, Mike has moved on to his third new venture, ThingCo, with the plan to take telematics to the next level.

TANC is a special interest group that organises events for Actuarial Alumni and friends of Cass Business School and City University. For more information, please visit www.tanc-cass.co.uk