Category Archives: Medical

Fraud Detection: How can Machine Learning Help?

An insurance company processes millions of claims, knowing that some of these might be fraudulent. Fraudulent claims that get paid out can cause insurance companies unnecessary and sometimes massive losses. One question that is often posed, and one that is …

Health Pricing Project

Diabetes Management Program We took on a new client seeking to implement a chronic disease management program in the region, starting with the UAE. We were tasked with analysing the internal data available to identify eligible members for the program …

Machine Learning – Applications to Insurance Pricing

 Introduction Say you’ve just received data for motor insurance pricing for a new company. You want to model claim counts, but you’re not quite sure what rating factors really affect counts just by looking at the data, because there’s 2 …

An Actuary’s Advice to Medical Insurers

An Actuary’s Advice to Medical Insurers Shivash Bhagaloo is a Fellow of the Institute and Faculty of Actuaries and Consulting Actuary at Lux Actuaries & Consultants Changes in GCC regulation over recent years have necessitated the Actuary playing a central …

SAMA 2015 Financial Condition Report Requirements

  SAMA – FCR 2015 Circular The Saudi Arabian Monetary Agency distributed the FCR 2015 Circular on 18 September 2015. Key changes in requirements are highlighted below. Most new requirements align with the draft Circular that was circulated earlier in September, albeit with …