AI in Actuarial Departments: Real-World Applications

Alexandre Boumezoued leads Milliman’s European AI Centre of Excellence. In this session, Alexandre will demonstrate how a sophisticated AI framework can augment actuarial capabilities - moving beyond process automation to deliver deeper, more strategic insights from existing data. Drawing on real-world case studies, he will present some successful AI implementations within actuarial departments, including:

• A tool that assists with the analysis of change for technical provisions, producing a summary narrative explaining the movements in reserves and commenting on second order effects and interaction drivers within the movements.
• An expert-domain chatbot, capable of assisting actuaries in various aspects of the work, including production, control and analysis tasks.

The session will also address the benefits of these AI projects, as well as the practical considerations involved in developing and maintaining such models.