Automate Monitoring of Actuarial Assumptions vs. Experience

Regularly comparing actual experience (e.g., claims frequency, severity) against the assumptions used in pricing or reserving is crucial for model validation and updates. LLMs can assist in automating parts of this experience monitoring process by extracting relevant data from reports, calculating key metrics, and generating summary comparisons highlighting significant deviations from assumptions. This flags areas needing deeper actuarial review more quickly.