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Michael Paczolt
ACAS, FCAS, MAAA
Principal & Consulting Actuary
Chicago, IL, US
Mike Paczolt is a principal in the Chicago Property & Casualty Practice of Milliman. He joined the firm in 2007.
Experience
Mike manages Milliman Nodal®, a comprehensive property, and casualty claim analytics platform that uses AI to identify claims for early intervention to manage and reduce claim costs optimally.
Mike also practices as an actuary for insurers, captives, self-insured/large-deductible programs, pools, MGAs, and start-up ventures. Mike's expertise is in property and casualty insurance, including workers' compensation, professional liability, general liability, auto liability, products liability, warranties, extended warranties and service contracts, and other unique risks.
Publications and Presentations
Professional Designations
- Fellow, Casualty Actuarial Society
- Member, American Academy of Actuaries
Education
- BS, Actuarial Science, University of Illinois at Urbana-Champaign
- MS, Predictive Analytics, Northwestern University
Publications
Read their latest work
Article
Top 5 mistakes in building claims AI for P&C insurance
08 May 2024 - by Michael Paczolt
We explore the top five mistakes that property and casualty insurers make when building claims artificial intelligence, noting the advantages of purchasing a ready-made solution.
Article
損害保険の保険金請求AI構築における間違いトップ5
08 May 2024 - by Michael Paczolt
損害保険会社が保険金請求のための人工知能を構築する際に犯しがちな5つの間違いについて調査し、既製のソリューションを調達する利点についてお伝えします。
Article
Industry survey: Tackling claims department challenges with AI
19 March 2024 - by Michael Paczolt, Matthew Murray
By embracing large language models, claims departments can use AI to enhance accuracy and free up professionals for more complex tasks.
Article
業界調査:AIで保険金処理部門の課題に対応
19 March 2024 - by Michael Paczolt, Matthew Murray
大規模言語モデルを採用することで、保険金処理部門はAIを利用して精度を向上させ、専門家をより複雑な業務に集中させることが可能になります。
Article
Elevate workers' comp claims with medical benchmarking
14 November 2023 - by Michael Paczolt
In workers' compensation, medical claim benchmarking provides clarity on where an organization stands, and offers insights on areas for targeted improvement.
Article
保険金請求管理における大規模言語モデルについて知っておくべきこと
30 August 2023 - by Michael Paczolt
保険会社は、大規模言語モデル(LLMs)の強みを活かすことで、様々な課題を抱える現在の市場で競争優位性を獲得することができるでしょう。
Article
5 things to know about large language models in claims management
30 August 2023 - by Michael Paczolt
By leveraging the strengths of large language models (LLMs), insurers will gain a competitive advantage in the challenging markets they face today.
Article
8 steps to a successful AI adoption strategy for claims departments
10 April 2023 - by Michael Paczolt
We outline eight steps for companies to integrate AI in their claims processes, potentially leading to substantial improvements in efficiency and productivity.
Article
保険金部門のためのAI採用戦略成功のための8つのステップ
10 April 2023 - by Michael Paczolt
AIを保険金請求処理に統合する会社のための8つのステップについてまとめます。 これにより、効率および生産性の大幅な改善につながる可能性があります。
Article
The role of NLP and AI in third-party litigation funding: How insurers can leverage data analytics to level the playing field
10 April 2023 - by Michael Paczolt
To combat third-party litigation funding (TPLF), insurers can invest in data and analytics to make informed decisions about claims handling and strategies.