Really honored to be first Ambassador Spotlight, and what a great experience to be working with all the talented individuals at #AWSEducate!
Ambassador spotlight from #AWSEducate
A Look at the Role of Data Analytics in the Insurance Industry
Insurance executive Perry Beaumont has enjoyed a successful career that includes the successful launch of a fintech firm and the publication of several business books. Currently, Perry Beaumont administers risk mitigation initiatives and analytical efforts at Distinguished Programs in New York City, where he serves as the head of data science.
A leading insurance program manager, Distinguished Programs maintains a strong commitment to its data and actuarial science department. Data analytics offers a number of competitive advantages for companies operating in the insurance industry. For one, the use of data analytics allows providers to quickly identify gaps in coverage and offer customized, client-centric solutions.
Data analytics can also help providers accurately price policies and premiums for their clients by tracking behavior at the individual policyholder level. The use of predictive modeling can maximize this benefit by informing re-priced policy premiums to ensure policyholders pay a fair price. Finally, data analytics can also help identify fraud and eliminate waste by providing actionable intelligence while also improving efficiencies and reducing waste within internal operations.
The Greenhouse Residency at SPACE on Ryder Farm
The head of data science at Distinguished Programs in New York City, Perry Beaumont holds a PhD in economics and statistics from the University of Illinois. Outside of his professional work, Perry Beaumont supports nonprofit organizations focused on culture and the arts, such as SPACE on Ryder Farm.
A nonprofit residency program, SPACE on Ryder Farm operates on the grounds of a 225-year-old farm in Putnam County, New York. The organization, which has served more than 1,400 residents to date, seeks to foster creativity and invigorate artistry while preserving the historic Ryder Farm.
Currently, the organization offers a number of residency programs, including creative residencies, family residencies, and greenhouse residencies. The greenhouse residency caters to aspiring playwrights who lack access to traditional theater companies. A 6-day residency, the program offers a chance for residents to develop original works while attending workshops and enjoying three farm-fresh meals daily. In addition, residents have access to theater experts and other mentors from the theater field.
For additional information on the program, visit www.spaceonryderfarm.org/greenhouse-residency.
#Tableau offers great teaching resources
The #Tableau for Teaching User Group is a tremendous resource!
An insightful infographic by #DataFlair
How Data Science is Shaping the Insurance Industry
A data scientist, Perry Beaumont is the head of data science of the Distinguished Programs Group. In charge of a variety of revenue-generating initiatives, Perry Beaumont leverages decades of experience in the insurance space to help contribute to the company’s strategic vision.
Similar to other sectors, insurance relies on strong and accurate data to create products and provide their services. One of the biggest contributions of the advances in data science is price optimization. The actuarial process is often complex and new techniques and tools in data science are making it faster and easier to establish reliable premiums in short periods, even for custom products.
Another highly specialized task, lifetime value prediction, is far more accurate thanks in part to newly-developed data science models. Data scientists can design behavior-based models that predict cross-buying and retention with relative accuracy.
Furthermore, data science models can be used to produce the ideal offer for a customer within seconds. While actuaries can develop countless insurance propositions, sometimes it’s difficult to match those up effectively with the right customer. Data science helps those customers find the right product by examining their choices and other information about them.
Tableau Data Scientist Certification
The Tableau Data Science Certification program is one of the best I’ve encountered, and would strongly encourage anyone interested to check it out for its completeness and attention to detail on solutions for today’s most complex data science challenges #Tableau
Thank you Taylor & Francis for selecting Digital Finance as a finalist
Honored to have Digital Finance selected as a finalist for “2019 Outstanding Book and Digital Product Award in the Reference Category”. A huge shout-out to everyone who contributed, and thank you!
A nice Tweet from #ColumbiaUniversity
A nice Tweet sent out by #ColumbiaSPSFaculty about supporting #AWSEducate initiatives and Digital Finance… Thank you!
Trends in Regulatory Technology
Dr. Perry Beaumont is a university lecturer with extensive experience in insurance and the finance sector. The author of Digital Finance: Big Data, Start-Ups, and the Future of Financial Services, Dr. Perry Beaumont specializes in financial analysis of the digital transformation and the fields of FinTech, InsurTech, PropTech, and RegTech.
Among the salient trends in RegTech (regulatory technology) is the move to cloud deployment. As cloud operations become more commonplace and accessible, real-time compliance-as-a-service tools are being developed and will increase in the near future.
Further, the application of RegTech tools to assess the regulatory impact of business decisions is becoming more mainstream. Digital tools allow companies to identify and implement laws relevant to business strategies and anticipate which solutions need to be developed.
Perhaps more than any other trend, the application of RegTech in tax solutions is gaining significant ground. As tax authorities become more draconian, RegTech is stepping up to offer tax-efficient investment data and advice.
Perry Beaumont 