What’s the greatest thing since sliced bread? In the insurance industry, it’s insurtech! The “technology” of insurtech is cutting edge and fairly new, and the “insurance” is rooted in tradition.
That’s why the executive team at Atidot, a leader in big data and predictive analytics tools for the life insurance industry, has expanded to include leading insurance experts. An exciting addition is Martin Snow, a former actuarial executive at Prudential, TIAA, and MetLife, who now serves as Atidot’s Vice President and Chief Delivery Officer, and Member of Atidot’s Advisory Board.
Martin is a member of the Big Data Task Force of the American Academy of Actuaries and led the development of the industry’s first ULSG priced with Principle Based Reserves, as well as the conversion of the pricing models to a new platform.
Martin’s CDO appointment complements the founding team of data scientists and actuaries, including the former Chief Actuary at the Israel Ministry of Finance. The expanding team is working with leading insurance providers to enable them to take control of their existing data to strengthen policyholder retention, sales, and in-force management driving both top-line and bottom-line growth.
The Israel-based startup caters to the unique requirements of its customers and harnesses advanced artificial intelligence, machine learning, and predictive analytics to enable life insurers and annuity writers to make data-driven business decisions. Atidot focuses specifically on the life insurance industry (valued at $597 billion in the US alone), offering insurers an easy-to-use and secure SaaS predictive analytics platform. The company utilizes underused and often neglected sources of data as well as open access information, to enhance existing business models.
Martin says, “I am delighted to join the fast-growing team of actuaries, data scientists, developers, and product professionals at Atidot. Together we are building industry-specific predictive analytics tools, providing life insurers with new strategies to meet the opportunities and challenges they are facing.”
Dror Katzav, CEO and Co-Founder of Atidot — and its lead data scientist — says that Atidot was founded to enable insurers to become more client-centric and is very excited that Martin has joined the team. “By using existing policyholder data, combined with open sourced information, we build a complete picture of a policyholder and predict their behavior, allowing carriers to offer the best possible service and develop the best business strategy.”
How exactly will insurers benefit from the Atidot platform? Martin sees it this way: “Life insurers and annuity writers can develop new strategies for their in-force management and new business activities through the insights generated by predictive analytics.”
Martin is a frequent speaker at Society of Actuaries meetings. Most recently he spoke at the Society of Actuaries Life and Annuity Symposium in Baltimore, Maryland on May 7 and 8. Martin moderated and presented at Session 36 on the Risk Management Process in Product Development” and led a workshop at Session 81 on How AI is being used in Distribution, Product Development, Pricing, and Underwriting.
Keep an eye out for future Atidot executive spottings – coming soon!