Home insurance premiums have jumped by 28 per cent in the past year – the biggest rise in two decades – raising concerns that many Australian households may abandon their…
IFRS 17, the new standard for ‘insurance contracts’, becomes effective from 1 January 2023. What are the key changes of the transition from IFRS 4 to IFRS 17, and how will the financial information presented by insurance companies change in the new year?
Secretary to the Treasury, Dr Steven Kennedy PSM, has given a post-Budget economic briefing to the Australian Business Economists, outlining recent economic developments, the surge of inflation, and shocks to global and domestic economies.
How can we predict building claims costs in Small Medium Enterprises (SME) across Australia using advanced statistical machine learning techniques? Or group and price hundreds of different industries based on data and business knowledge? How should we deal with sparse data spread across hundreds of categories? Commercial insurers are searching for solutions to these ongoing industry challenges, as well as young talents to contribute to their solutions. Dr Fei Huang describes the UNSW Business School’s Sandbox Project, which aims to do just that.
