Much like with auto insurers in the early 20th Century, it’s only been recently that the insurance industry has realized how significant—in both size and importance—cyber exposures are. Further, this significance will likely continue to increase for the foreseeable future, as businesses continue to become more technology-driven and hostile actors continue to find new ways to commit cybercrimes that steal from and disrupt businesses.  

On the May 2020 Pinnacle APEX Webinar, “The Importance of Data Management and Data Quality,” we addressed a critical business issue:  the costs of poor data, reasons for data management, and ways to improve how data is managed in an organization. The webinar also took a deep dive into methods to address the major challenge of missing data.

On Pinnacle’s September 2019 APEX webinar, “Digging Into the Modeling Lifecycle,” we discussed the importance of understanding all of the steps involved in the modeling lifecycle—far beyond simple model construction. That includes understanding the business question, anticipating the potential constraints of implementation, and staying ahead of model usage from a change management perspective. Management of those issues are among the most critical contributors to the model’s best chance for success.

In the February APEX, “The Actuary’s Evolving Role in Today’s Dynamic Industry Landscape,” we discussed the ever-evolving professional expectations of today’s actuary. We also discussed our outlook on the future of predictive analytics in light of so many technological changes. As a follow-up to the February APEX, we’re sharing the results of the live polling questions.

Last week we presented an APEX webinar on changes in technology that will impact the insurance industry in the coming years. We would like to thank everyone who participated and responded to our polling questions, and we’ll now answer a few participant questions we lacked sufficient time to address during our presentation.