Digitising the Claims Assessment Process in Emerging Markets: Introducing MALCOLM

Digitising the Claims Assessment Process in Emerging Markets: Introducing MALCOLM Emerging markets are notoriously complex environments to administer non-life insurance products. Claims assessment processes in these markets tend to be constrained by paper-based data collection, excessive touchpoints and interactions, and limited availability of assessors. This leads to slow turnaround times and unnecessary costs, as well as limited ability for analytics to reduce fraud and improve risk assessment and pricing. Ultimately, this translates to inefficient operational models, client dissatisfaction, limited growth, and exclusion of low- and middle- income consumers. Looking at the penetration of non-life insurance in Africa as an example,
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The Role of Actuaries in Inclusive Insurance

The Role of Actuaries in Inclusive Insurance By Nigel Bowman It was a huge privilege to attend the 13th International Microinsurance Conference (IMC) in Lima, Peru, earlier in November and participate in a panel discussion on the role of actuaries in inclusive insurance. You may be wondering “What, actuaries in inclusive insurance? Are they even necessary for such simple, short-term covers?”. An interesting observation after having attended a number of the annual IMC’s is the slow but steady increase in participation from actuaries and organisations that provide actuarial services. The reason frequently expressed to me is that actuarial skills are
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