Don Mango and Matt Mosher on Innovation

My guests for this episode (player, youtube) are Don Mango, Global Head of Actuarial Pricing and Modeling at Everest Insurance, Two-term Casualty Actuarial Society Board Member and former CAS Vice President of Research and Development and Matt Mosher, EVP and Chief Operating Officer of A.M. Best Rating Services, responsible for rating operations globally.

For these heavyweight guests we tackle a heavyweight issue: are actuaries innovating enough? How would we innovate more?

We discuss:

  • whether innovation is greater in pricing or reserving, 
  • whether risk classification is the seat of all innovation, 
  • how AM Best sees its role in innovation
  • the impact of driverless cars on insurance innovation (the answer might surprise you!), 
  • what happened in the UK? 
  • how should the formal Standards of Practice influence the identity of actuaries and innovation in the field. 

And much more!

Here are some links:

ASOPs (including the historical archive!)

AM Best’s innovation criteria

Morris review of UK Actuaries

Kingman review of UK Financial Regulation

I’m fascinated by the tension between actuarial work and government regulation and this came up as a sub-topic in our discussion today. It will not drive traffic but expect more from me on these incredibly important issues in the future!

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