Growing a Data & Analytics Center of Excellence
Across the insurance industry, the data revolution is in full motion, and AXIS has been scaling up its efforts to grow a Data & Analytics Center of Excellence. The Center's mandate includes helping to facilitate more informed decision-making and free our professionals to focus on higher-value client services, all while enhancing our ability to deliver disciplined underwriting and offer even more value to our clients and partners in distribution.
In 2017, AXIS upped its game, further developing its strategy and dedicating more resources to help strengthen the Company's data & analytics capabilities, which included introducing a new, collaborative approach to evaluate specific business needs. Additionally, the Company invested in new test pilot programs designed to further increase the Company's agility and responsiveness.
The team also leveraged AXIS' relationship with the University of Illinois Urbana-Champaign (see sidebar article, "Future of Insurance Symposium and Hackathon") to garner change management insights and best practices for a number of data and analytics initiatives.
Additionally, AXIS invested in bringing in new talent with deep expertise in data & analytics. A key addition was Meghan Anzelc, Ph.D., a trained physicist and data scientist who joined AXIS in May to build and implement a strategy and roadmap to expand the data & analytics capabilities for the insurance segment.
Dr. Anzelc is now the Chief Analytics Officer for the Company and is an integral part of developing AXIS' new Global Underwriting and Analytics unit (GUA), which is being led by Group Chief Underwriting Officer Eric Gesick. GUA is partnering with AXIS' underwriting, claims and actuarial teams in the Insurance and Reinsurance segments, and will arm them with greater insights, resources and tools to deliver even more value and services to clients and partners. As it continues to grow, GUA will further advance the Company's philosophy of coupling human ingenuity with powerful tools and insights.