Session: Predictive Analytics in Life Insurance
Speakers: Allen Klein, FSA, MAAA, and Zubair Shams

Predictive analytics has been used by P&C actuaries for some time. It is just now beginning to be used by life actuaries. This session will start with a brief definition of Big Data and predictive analytics and a description of the predictive analytics process. This will be followed by presentations on two case studies using predictive analytics – one on distribution and sales behavior and the other on underwriting. By the end of the session, attendees will see how predictive analytics can be used and applied to some of the issues faced in their work environment today and in the future.

Allen Klein is a principal and consulting actuary with Milliman’s Buffalo Grove / Chicago office. He joined the firm in 2009. Al’s primary responsibilities include industry experience studies and helping clients with mortality, longevity, and underwriting related issues. This may involve product development, assumption setting, and mergers and acquisitions. Al’s expertise on mortality and underwriting includes traditional products, simplified issue, final expense, older age, and preferred. Al received a BS in Actuarial Science and Finance at the University of Illinois, Urbana. Prior to joining Milliman, Al worked for a large stock life insurance company where he was responsible for experience studies across all lines of business. He has also worked for other life insurance companies, a reinsurer and consultant, where he has been responsible for strategic planning, product development and traditional reinsurance. Al is a frequent speaker and currently involved with a number of industry activities, including: Society of Actuaries (SOA) representative and Co-Vice Chair for the Mortality Working Group (MWG) of the International Actuarial Association; MWG Chair of the following projects: Underwriting practices around the world, Future drivers of mortality, and Older age mortality; SOA Longevity Advisory Group; SOA Longevity Illustrator Development Team; Chair of the SOA Underwriting Issues and Innovation Seminar Planning Committee; SOA Life Insurance Mortality and Underwriting Survey Committee; Joint American Academy of Actuaries (AAA) /SOA Preferred Mortality Oversight Group; Joint AAA / SOA Underwriting Criteria Team; 2015 SOA Valuation Basic Table Development Team; SOA Longevity Illustrator Development Team; Longer Life Foundation Advisory Board

Zubair Shams is a director in KPMG’s Actuarial and Insurance Risk practice. For more than 15 years, Zubair has helped various organization implement end-to-end business solutions that are rooted in predictive modeling. He joined KPMG in 2015. Prior to joining the firm, he led the claims analytics initiative for a global insurance carrier and served as a project leader at another Big Four consulting firm.