Spotlight on…
Our Pricing and Actuarial Team Article written by Lucy Eruero
as working on telematics programmes with clients around the world to enable them to advise and work closely with clients; sharing experiences and know-how whilst also taking the time to listen and learn from every new engagement. On any typical day, the team will be talking with prospects or clients about how they can help them build scoring solutions that are appropriate to their customer demographics and how they can work with their internal teams to develop their own unique IP. When they are not out on the road or on conference calls with clients or prospects, they review the scoring management information and audit reports from data science to ensure that everything is working as expected and present
The Floow’s Pricing and Actuarial team help clients maximise the value from their telematics programme. They act as the key lynchpin between the client’s actuarial teams, our analytics teams and industry developments, and as such aim to collaborate with our clients to innovate and generate insights that improve underwriting and therefore drive competitive advantage and commercial success. Telematics gives clients insights into risk that are far more granular and predictive than traditional rating factors, however, telematics is the new kid on the block and often lacks the volume of real world data that insurers like to see when building risk and pricing models. Our P&A team therefore use their vast experience of running actuarial teams within insurers as well
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these results to our clients. They spend a lot of time working with the business development and client development teams to understand the technical requirements of our clients and feed this back internally, whilst managing expectations. But perhaps more importantly they work with the data science teams to develop new and enhanced scoring and other analytics including elements that are requested by our clients, as well as advising on and checking claims analysis regressions where they try to improve our scores and make them better at predicting our clients’ claims experience. We talked to Andy Goldby and Jonathan Smith from our Pricing and Actuarial team to find out more about what they do, their experience and what they enjoy about working at The Floow.
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