Actuarial Review is often packed with good information that even a non-actuary can use — something that never ceases to surprise me.
For example, you don’t have to be an actuary to recognize conflict resolution is a great skill to have in your toolkit. From time to time, you will have to go up against someone who thinks that you don’t know what you are doing. You have to learn to paddle through predicament-filled ponds to come to resolution, and, if you are lucky, you’ll emerge a bit wet but free of pond scum, and something will actually get done. Grover Edie gives a good refresher on keeping the ego in check while getting the work done for people who think they know the answer. (Haven’t we all been that person at one time or another?)
I found a lot of value in Jim Lynch’s coverage of the recent RPM Seminar. In particular, his article on finding the right insurtech partners reminds me how crucial it is to “kick the tires” of an innovative concept or product before incorporating them into your work life. The time put into vetting and picking a potential partner can be off-putting, but the rewards can be great. And if it doesn’t work out, go on to the next firm or idea. Today, it’s about being open to change.
Goin’ Mobile
Vehicles are a big part of our everyday lives, and commercial vehicles are figuring in even more prominently. Whether you’re driving on a highway, hiring a plumber or ordering goods online, a commercial vehicle is usually involved. Which is why I am so surprised to learn from our cover story that there is so little data available on the ubiquitous commercial vehicle.
The idea for the story, written by Annmarie Geddes Baribeau, came about from a discussion I had with CAS Staff Actuary Ken Williams. As the story was being developed, I learned something quite unexpected from him: Commercial auto is the poster child for unprofitability. With all the emphasis on big data and predictive analytics, I was amazed to learn that not more is being done to collect statistics on commercial vehicles.
Amazing, indeed.
So, I invite you to be amazed and read our cover story. Also, be sure to look up from your smart phone and check both ways before crossing the street.
