(Gen)AI: What’s in It for Me as a Reserving or Claims Actuary

Reserving is a key actuarial activity at the center of the balance sheet management of an insurance company. Reserving models have been developped for decades by actuaries using run-off triangles to validate or complement assessment performed by claims handlers. (Gen)AI provides new opportunities to actuaries to refine their reservinf approaches. The objective of this presentation is not to navigate the technical details of (Gen)AI but rather to provide some practical examples and ideas. We will cover topics such as data cleansing and anomaly detection, individual claims reserving, features engineering, continuous case reserve estimation and process automation. We will also analyse how actuaries can contribute to the improvement of the claims management practices by becoming claims actuaries. In this context, we investigate a few examples such as routing of claims, smart repair, optimal expertise,…