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  #11  
Old 02-06-2018, 03:35 PM
Fracktuary Fracktuary is offline
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Originally Posted by Colonel Smoothie View Post
I usually have an answer in mind when I post questions like this, but I want to see different perspectives. Sometimes I simply want to see how people will react.

I was aiming to see if anyone would start generalising to the more common situation of needing to hire someone outside of your domain or expertise for subject X, but I guess that didn't happen.
My initial thought was that that was your intention.
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  #12  
Old 02-06-2018, 04:17 PM
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I was aiming to see if anyone would start generalising to the more common situation of needing to hire someone outside of your domain or expertise for subject X, but I guess that didn't happen.
In a previous professional life, I had to hire a team of developers to create a mobile application. There are a lot of things that made that situation different than what you're describing: they were students, it was for a short-term project, and there was a "learning experience" aspect to it. But I similarly had no expertise in software development (my background was in finance/consulting) and was going to be managing their team.

I asked a friend of our organization who was an experienced developer to sit in on interviews with me. For the interviews, we asked them to bring the code from a project they had worked on and been proud of, and asked them to walk us through it. My concern was that the candidates could communicate their work effectively to a non-expert, and my colleague focused more on the quality of their work and ability level.

Out of five hires, I ended up with one dud, two that were fine, and two that were excellent. With an imperfect hiring process like that, I wouldn't be surprised to see a similar distribution if I were to do it over again.
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  #13  
Old 02-06-2018, 06:09 PM
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I have a question for you. When a claim happens, it's typically handled by multiple parties, even multiple companies who each do their part to verify that the provisions in the indemnification contract between insured and insurer are satisfied, from the point of occurrence to settlement.

As a result, each party gets paid, passing on the expense to the insured via higher premiums.

This is the type of problem that blockchain tech aims to solve and disintermediate.

Why shouldn't we, as members of a profession that like to brand ourselves as leaders within our industry, be the ones who are the main drivers of developing and implementing these new technologies?
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  #14  
Old 02-06-2018, 06:54 PM
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Quote:
Originally Posted by Colonel Smoothie View Post
I usually have an answer in mind when I post questions like this, but I want to see different perspectives. Sometimes I simply want to see how people will react.

I was aiming to see if anyone would start generalising to the more common situation of needing to hire someone outside of your domain or expertise for subject X, but I guess that didn't happen.
So just to be clear you posted a question that was really not your real question but an attempt to see how people would react? And, apparently, also, an attempt to ask a different question hidden in your initial question...about hiring outside of your expertise?

I have that right?
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  #15  
Old 02-06-2018, 07:16 PM
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Quote:
Originally Posted by Colonel Smoothie View Post
I have a question for you. When a claim happens, it's typically handled by multiple parties, even multiple companies who each do their part to verify that the provisions in the indemnification contract between insured and insurer are satisfied, from the point of occurrence to settlement.

As a result, each party gets paid, passing on the expense to the insured via higher premiums.

This is the type of problem that blockchain tech aims to solve and disintermediate.

Why shouldn't we, as members of a profession that like to brand ourselves as leaders within our industry, be the ones who are the main drivers of developing and implementing these new technologies?
because you are an actuary.
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  #16  
Old 02-07-2018, 10:52 AM
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Why shouldn't we, as members of a profession that like to brand ourselves as leaders within our industry, handle claims adjusting?
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  #17  
Old 02-07-2018, 11:10 AM
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Quote:
Originally Posted by Colonel Smoothie View Post
I have a question for you. When a claim happens, it's typically handled by multiple parties, even multiple companies who each do their part to verify that the provisions in the indemnification contract between insured and insurer are satisfied, from the point of occurrence to settlement.

As a result, each party gets paid, passing on the expense to the insured via higher premiums.

This is the type of problem that blockchain tech aims to solve and disintermediate.
OK, I totally missed the point of your original question. And, on the life side, things are not quite so complicated regarding claims. So for SOA types, my answer may still stand. But this raises a couple more questions:
1. Why is block chain better than other forms of process management techniques for dealing with this kind of thing??
2. How does a person prepare for a job as a blockchain developer? Are there college classes, perhaps in the computer science curriculums? Are there online courses? And are there certifications?


Quote:
Why shouldn't we, as members of a profession that like to brand ourselves as leaders within our industry, be the ones who are the main drivers of developing and implementing these new technologies?
3. Just because of some branding campaigns, do you really think that actuaries are leaders in our industry?
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  #18  
Old 02-07-2018, 12:09 PM
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I mean, I think actuaries often take positions of leaderships, and often provide leadership in several areas.

But not technology. Actuaries are not leaders in technology.
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  #19  
Old 02-07-2018, 12:09 PM
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Quote:
Originally Posted by Neutral Omen View Post
Why shouldn't we, as members of a profession that like to brand ourselves as leaders within our industry, handle claims adjusting?
I cackled!
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