The evolution of the modern data science teams in insurance industry

Most people purchase Life Insurance in an attempt to reduce the financial pressure on loved ones and other beneficiaries when someone dies. However, many individuals fail to realize the Living Benefits found in Life Insurance contracts. Explore benefits the policy owner may take advantage of while still alive. Examine how Cash Values in policies are created, and how they can be extracted by a living policy owner in the most tax advantaged manner. Review the tax consequences of Qualified Retirement Plans. Discover how a business can use the Living Benefits of a Life policy to recruit, retain and reward key employees in a business, as well as to allow the business owner to move business dollars into their personal account for retirement. Briefly review various Life Insurance Riders to focus on their Living Benefits, Viatical Settlements (Life Settlements), and the Annuity side of life contracts.

Cyber insurance has become a common risk mitigation strategy to lessen the financial impact of a cyber incident. However, it's not until an incident happens that we really think about the type of coverage we carry and how it affects our ability to recover. Dickinson Cybersecurity Law Attorney John Lande and consulting and audit firm SBS CyberSecurity first aired a webinar on April 30 to discuss common questions and issues that arise during an incident as well as what information you should know about your policy to quickly take action. It is now available as an on demand resource. The webinar also includes case studies that cover real-world scenarios that will arm your institution against the next incident.

Managing life insurance has been harder this last year than any year in recent memory, with volatile equity markets and historic low interest rates that have damaged policy performance and unprecedented cost of insurance (COI) increases causing premiums on policies to more than double overnight. In this volatile environment most trustees are in need of insight to adequately manage life insurance, which needs specialized knowledge in a number of skill sets, including not only policy management, but TOLI administration.

IFRS17 is likewise the most revolutionizing regulatory journey in the Insurance industry. Since it’s significantly changing the way insurers will report their financial results, it is equally impacting their multi-year business forecasts. How can insurers manage performance in an IFRS17 world? How to model plans in IFRS17? Watch this On-demand Webinar with Insurance and IFRS17 Experts from Deloitte and learn how Anaplan: orchestrates data from across the business in a highly collaborative and open manner to help life insurers’ transition to the new IFRS 17 regime beyond compliance; leverages actuarial model outputs and profiles to simulate cash flow projections and stacking for in-force and new business insurance contracts; facilitates the presentation of financial planning results and key metrics under both IFRS 17 and 4 frameworks to support informed decision making increases collaboration among various teams, including Underwriting, Investment, Finance, and Management, in the process of planning, budgeting and forecasting.