Experience Study Case Study

Leading life insurer automates experience study workflow

Montoux’s transparent AI-driven automation capability enabled a leading life insurer to shift the experience study process from being an annual activity to being completed in near-real-time based on monthly data feeds.

The Problem

How can we automate the experience study workflow to reduce the drain on actuarial resource?

Our customer's experience study workflow took around three months, consumed significant actuarial resources, and ultimately produced insights that were difficult to derive business value from. Our customer wanted to reimagine the process to automate manual tasks and generate insights suitable for dynamic decision making.

Summary of What We Did

Montoux’s Decision Science Platform delivered the following outcomes:

• Automatically ingest data monthly in a clear, structured format
• Leveraged the processing speed of the cloud to generate flexible, granular analyses
• Created intuitive visualizations designed for use throughout the business
• Integrated outputs into existing financial models

Benefits to Our Customer

The transition from annual to monthly process - data automatically refreshes; trends can be monitored throughout the year

Lapse and claims rates can be viewed across various lenses and easily sliced and diced for different analysis

Transparent, auditable calculations  

Greater alignment between the actuarial and product teams 

Substantial reduction in time (two days) and actuarial resource effort required to complete the experience study process

Get in Touch: To learn more please contact hello@montoux.com

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Automating the experience study workflow; completed in near-real-time based on monthly data feeds.