2017 & 2018 saw significant losses for Lloyds due to a mixture of Natural Catastrophes causing a high exposure to risk.
How in this time of uncertainty can we effectively realize risk, and turn losses into wins?
Whilst we cannot be certain a Nat Cat event will definitely take place, we do have greater control over other elements; two of those are data and a pinpoint accurate understanding of address location. Bad data can put £billions of policies at high exposure risk and past efforts to actuarially spread the risk across the portfolio is only hiking prices unnecessarily and potentially pushing net new business away.
This Roundtable is positioned to bring 15 thought-leading Executives together to work through the key challenges of this critical topic area.
Key Challenges to be discussed whilst enjoying a splendid three-course meal include:
Speed & Accuracy – How are you currently handling the requirement for Speed and Accuracy to understand your risk?
During the crucial pre-bind stage, there is a need to act swiftly and accurately in order to get the best price and risk understanding. However, with a plethora of data this can be challenging to navigate in an effective way and with pressure to provide a quote rapidly.
Consistency & Risk – Where are you on your journey to consistent risk management?
With the constant pressure of avoiding overexposure and accumulation – there needs to be a better understanding of what can be done to ensure losses can be turned into wins with regards to consistently betting against the big risks and providing a clearly communicated understanding of those risks for governance purposes
Operationalize – What are you currently utilizing to visualize, code and analyze location-based data?
Insurance companies today have more location-based data available to them than ever — yet operationalizing that data across the business remains a significant challenge. Being able to clearly visualize data, from postcode to address level is crucial to turning losses around as well as to being able to communicate accumulations of risks within an insurer.
Our CDAO Roundtables are invitation-only meaning that you only meet with your most senior peers.
Our facilitated discussion format enables you to hear from experts on the hottest topics, as well as share your own innovation stories.
We know that time out of the office is valuable, which is why our roundtables are just 3 hours long with networking & discussions packed in.
Whether it's a breakfast, lunch or dinner, our roundtables include fine dining and drinks in a private and intimate setting.
Best of all, in order to best bring together the brightest minds, our roundtables are completely free-of-charge to attend.
Our roundtables are designed to ensure you go home with practical solutions to your biggest problems.
"The CDAO Roundtable, Boston, and others like it, accomplish the hugely important goal of providing an open and professional platform for industry peers to share experience and guidance on the emergence of enterprise data science. In 90 minutes, professionals from publishing, education, health, and financial services with varying backgrounds held a very productive discussion on common challenges and opportunities, including strategies to monetize enterprise and third-party data, where to find and how to grow the best talent sources, and data model governance. Excellent way to send a few hours...”
Michael Versace, Digital Strategy, Global Research, IDC