Applying data science in the life insurance industry -- a perspective from a qualified actuary

To summarise, this use case presents a way for actuaries to automatically classify free-text claims causes data into pre-defined categories for further analyses. Ultimately, with the help of BERT, computers are able to understand human language. For this instance, computers are able to understand and compare medical terms or description of a claims event, which can be messy at times. The alternative which is manual filtering in Excel is not practical, especially for large number of claims. As mentioned previously, Excel has been the primary ETL tool for most life insurance actuaries.