Pacific Life Re creates a new medical analytics team
Pacific Life Re has created a new medical analytics team, with the aim of strengthening its analytics and emerging risk capabilities.
The team will be led by Ian Collins, who has more than 20 years of experience in the life reinsurance industry, having previously worked at Mercantile & General and Swiss Re prior to joining Pacific Life Re in 2010 as a senior product development actuary. He has previously held roles in a variety of departments, including: sales and marketing, risk, pricing, corporate actuarial and research & development.
The creation of the medical analytics team follows the establishment of the strategic analytics team in 2019. Pacific Life Re said its investment in this area will help ensure the company has leading-edge analytical and data science capabilities in assuming insurance risk and contributing to innovative product design and insurance solutions across the markets it operates in.
The medical analytics team is responsible for developing Pacific Life Re’s medical research strategy across the business, enabling both existing and new risks to be managed and quantified appropriately. The team will supplement Pacific Life Re’s core research and development expertise in relation to data, modelling and analysis by providing insight relating to new treatments, medical innovations and other emerging risks and developments.
The company said that working within its research and development function and collaborating closely with other areas including underwriting and claims will provide a pool of resources and expertise, covering medical knowledge, insurance product development, underwriting/claims practices and modelling.
Ian Collins, head of medical analytics, commented: “I am really excited to have set this team up and I feel privileged to be working with such a group of experts across the business. Our initial focus will be around the ongoing COVID-19 developments and longer-term impacts including reviewing the company’s approach to shock risk capital in the light of the pandemic.”
Matthew Smith, head of research and development, added: “I have worked with Ian for a number of years and am delighted to have him in this newly created role. I look forward to working with Ian and his team to help the company maintain its market-leading position and to provide the very best support and guidance to our clients.”
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