Episode 101: Actuaries in Software
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Episode 101: Actuaries in Software
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Narrated by:
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By:
About this listen
The theme for the episode is 𝗔𝗰𝘁𝘂𝗮𝗿𝗶𝗲𝘀 𝗶𝗻 𝗦𝗼𝗳𝘁𝘄𝗮𝗿𝗲.
Marcela and I covered the following topics:
✅ Marcela’s motivation for pivoting to tech/software
✅ Why a software company would need an actuary
✅ The cloud and how it enables insurance modernization
✅ How generative AI can help yield value for insurance companies
✅ Using unstructured data for underwriting, claim, marketing, and distribution
✅ Marcela’s experience learning R and Python
✅ Programming and coding proficiency actuaries need today
✅ Tips for actuaries, data scientists, and data engineers to work collaboratively
✅ Origins and motivations for the Organization of Latino Actuaries
Time Markers
1:30: Transition from consulting to tech/software (impact of legacy systems on consumer sentiment, shifting policyholder expectations, and personalized experiences).
5:21: Where actuaries add value in tech/software (strategic conversations, becoming trusted advisors, speaking language of insurance, and understanding customer pain points).
7:10: Connecting horizontal product features to vertical insurance functions, understanding and quantification of customer use cases.
12:10: Databricks as a data and AI platform for ingestion, transformation, curation, servicing, and consumption into downstream applications.
14:40: Databricks’ compute capabilities (moving beyond batch to streaming), separating compute from storage, and evolving from ETL to business outcomes.
16:11: Global Head of Insurance role (qualifying opportunities, briefing executives, influencing product direction, building solution accelerators, and demonstrating platform capabilities).
24:01: Databricks’ customer profile, the rise of semi-structured data, and integration with other technologies.
30:25: The cloud, the rise of big data (volume, variety, and velocity), modernization, and cloud migration trends.
37:18: Generative AI explanation and homeowner’s premium modeling illustration (GLMs vs. neural networks).
44:10: Generative AI use cases (accident descriptions, product recommendations, coverage verification, underwriting appetite, claim reporting, measuring intent, and customer triaging).
49:36: The importance of programming and coding, open-source (R and Python), and combining programming languages with generative AI (ex. CoPilot).
54:56: Collaborative illustration with actuaries (business hypothesis and analysis), data scientists (model fine tuning and algo testing), and data engineers (building data pipelines).
1:01:18: The Organization of Latino actuaries, origins, and motivations.
If you are an actuary seeking to work in technology/software, you want to listen to this.
My Website: maverickactuary.com
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In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.