Louis DiModugno, Chief Data & Analytics Officer at AXA, outlines how AXA incorporates external health and wearable data into life insurance underwriting.
“Our actuary, ah, efforts and our predictive underwriting efforts have really started to take advantage of the information that we're collecting at the point of sale, augmenting it with additional information that's accessible maybe through prescription databases looking at down the road electronic health records maybe even using Fitbit type information to really give us a much better understanding of our customers going forward.”
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More from Louis DiModugno
AssertionNot checkable as stated
AXA spends 90% of data project time on preparation, 10% on modeling
“One of the biggest challenges that we've had in this two years of existence is that of the biggest projects that we've been working on, it's been, you know, 90% data access and preparation, 10% model building.”
Louis DiModugnoMay 23, 2016▶ 16:32Big Data in Insurance // Louis DiModugno, Chief Data Officer at AXA US [FirstMark's Data Driven]
Disclosure
AXA leverages telematics in Europe for auto insurance pricing adjustments
“Ah, we also have a big, ah, initiative in Europe as well with telematics right now. So in the property and casualty space, specifically in auto, we get a much better, ah, capability to get better pricing based on how How people are using their automobiles and …”
Louis DiModugnoMay 23, 2016▶ 4:31Big Data in Insurance // Louis DiModugno, Chief Data Officer at AXA US [FirstMark's Data Driven]
Opinion
DiModugno: Diabetes patients are a heavily underserved community in the insurance industry
“In the insurance space, it's a very underserved community.”
Louis DiModugnoMay 23, 2016▶ 22:56Big Data in Insurance // Louis DiModugno, Chief Data Officer at AXA US [FirstMark's Data Driven]
Disclosure
AXA aims to deploy algorithmic risk scoring across its entire book by 2017
“Our intent is that within the next, ah, year to 18 months, this scoring mechanism will be essentially across our entire book of business.”
Louis DiModugnoMay 23, 2016▶ 25:27Big Data in Insurance // Louis DiModugno, Chief Data Officer at AXA US [FirstMark's Data Driven]
Disclosure
AXA converts younger actuaries into internal data science roles
“What we found is that, quite frankly, we had some data scientists essentially within our midst, and so the actuaries that we had within our organizations, especially some of the younger ones, it was a very nice conversion for them to be able to pick up R codin…”
Louis DiModugnoMay 23, 2016▶ 2:59Big Data in Insurance // Louis DiModugno, Chief Data Officer at AXA US [FirstMark's Data Driven]
Disclosure
AXA US builds its analytics infrastructure on a Cloudera Hadoop stack
“So the one that we've got here in the U.S., it's primarily a Cloudera Hadoop stack that we've used a blueprint that was essentially blessed by our brethren over in French, in France and with that, we've got R and Python and Spark. We use some Dataiku along the…”
Louis DiModugnoMay 23, 2016▶ 10:44Big Data in Insurance // Louis DiModugno, Chief Data Officer at AXA US [FirstMark's Data Driven]
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