Business Models for Actuaries

PRESENTERS

    Andrew M. Webster, M.S., ASA, MAAA
    Founder and Actuary at Validate Health

REGISTER

Registration deadline:  August 4th, 2017
Cost:  $25 for paid-up members and subscribers  (please login to get this price)
           $30 for other attendees

SESSION DETAILS / WHAT ATTENDEES WILL LEARN

Actuaries are in a unique position to capture entrepreneurial opportunities within the insurance and insuretech industries. They are well-equipped to develop and test new business models and receive growing venture capital funding. However, many actuaries are not capitalizing on the opportunity. The goal of this presentation is to introduce entrepreneurship and technology to actuaries so that they can better access these opportunities.

The first hour and fifteen minutes of the presentation will focus on fundamentals of business models and business model testing. The discussion will be tailored to business models in the insurance and insuretech industries. Prototypical business models for software tools, predictive models, data products and professional services will be covered. The current investment landscape in insuretech will also be covered.

The final half hour of the presentation will delve into detail on a business case study developed by an actuarial founder in the healthcare space. Business model testing results, financial results and operational and legal considerations for launching a business will be covered. By the end of the case study, the audience will understand the practical issues around testing a business model in the wild.

PRESENTATION SLIDES:

2017_08_08_business_models_for_actuaries_ansy_presentation_080817_v4.pdf 

TARGET AUDIENCE: Actuaries who are interested in taking their general business and entrepreneurship/intrapreneurship skills to the next level.  The content applies to actuaries who are interested in founding a business, actuaries working in a corporate environment who are interested in developing their intrapreneurial skills, and actuaries who are considering working for a startup in the insuretech industry.

SUMMARY BIOGRAPHY

Andrew M. Webster has a decade of healthcare software and actuarial experience having previously worked at Epic, a large supplier of electronic medical records, Willis Towers Watson and Presence Health, a large hospital system in Illinois.  In mid-2014, Andrew founded Validate Health, a software and consulting firm empowering healthcare providers participating in risk contracts.  In 2015, Validate Health was the first company to participate in the SOA non-traditional actuarial internship program.  In 2016, Validate Health was selected as a Python start-up row company and co-published a comprehensive study on provider risk with the AAMC.  Andrew was selected as a 2016 pioneer in predictive analytics by the SOA.  He holds Bachelor degrees in Materials Science and Engineering and Mathematics from the University of Illinois Urbana-Champaign and a Master’s degree in Actuarial Science from the University of Wisconsin Madison.

DATE: Tuesday, August 8, 2017