Data, data, data is the new mantra.
Insurer LV= sure is adapting to the times, creating a new role to handle advanced analytics. Pardeep Bassi (pictured) has been appointed head of data science for general insurance.
Bassi, who was pricing manager at warranty provider Domestic & General, will be under LV=’s personal lines pricing director Hugh Kenyon. The new head of data science was also with
AXA for four years.
He is tasked with creating and delivering LV=’s advanced analytics strategy as well as identifying opportunities related to machine learning. Bassi will be responsible for implementing the appropriate data architecture and systems for strategy delivery.
“There are plenty of opportunities within insurance to do more with advanced analytics but one of the key challenges that companies face is motivating people and the wider business to adopt the newest tools and effectively use them,” he commented.
Bassi said he hopes to help LV= overcome this challenge by developing a comprehensive strategy. “I’m looking forward to working with Hugh and the wider company to ensure we make the most of advanced analytics,” he said.
For Kenyon, he believes advanced analytics has the potential to transform how business is done and wants to take advantage of the latest technological advancements.
“Both in his time at Domestic General and AXA, Pardeep led on a number of projects that used data and analytics to enhance the performance of the business, all of which delivered very positive results,” he said.
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