Tag Archives: Donal McGinley

Making better use of available internal data

Data science is a term given to the broad array of activities used to gain insight and extract value from existing data sources, including techniques such as data analytics, predictive analytics, machine learning, data mining and artificial intelligence. The use of data science techniques enables the extraction of value from increasingly diverse sources of data.

The cost of storing data has been falling exponentially for decades, and many companies have started storing lots of potentially valuable internal data. Computing speeds have been increasing exponentially for decades, and data analysis software has been steadily improving, making it feasible for companies to analyse and gain insight from these larger data sets.

In this briefing note, Milliman’s Donal McGinley, Bridget MacDonnell and Eamon Comerford provide a high-level overview of how insurers can make better use of internal data to gain insight and drive competitive advantage.

EIOPA’s opinion on the impact of Brexit on the solvency position of (re)insurers

EIOPA has published an opinion paper focusing on the impact of Brexit on the solvency position of EU (re)insurers. It focuses on the scenario where the UK leaves the EU and is classified as a third country. The paper lists a number of issues which could affect the solvency position of EU undertakings if this particular scenario occurs, and it calls on National Supervisory Authorities to ensure that undertakings under their supervision are prepared for this scenario. This briefing note by Ellen Matthews and Donal McGinley summarises the main points in the EIOPA paper.