Thomas M. Prince

FCAS, MAAA

Principal, Consulting Actuary

Denver, CO, US

Tom Prince is a principal and consulting actuary with Milliman's Property and Casualty Practice. He joined the firm in 2005, and lives in Denver, Colorado.

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Experience

Tom's project experience includes economic and financial modeling, reserving and variability analysis, reinsurance analysis, large loss modeling, ratemaking, appraisal and due diligence related to mergers and acquisitions, medical fee schedule repricing, mortality analysis, software development, and special project work. He recently led the development of an AI-powered actuarial chatbot

Tom specializes in commercial property and casualty lines reserving and pricing with a focus on long-tailed lines of business, including workers’ compensation, general liability, automobile liability, medical malpractice, reinsurance, cyber liability, and construction defect insurance.

Tom's clients include insurance and reinsurance companies, rating bureaus, insurance regulators, state funds, self-insurance groups and pools, captive insurers, and individual public and private self-insured employers.

Publications and Presentations

Tom regularly presents at industry and internal forums on generative AI in insurance and also speaks on broader property and casualty actuarial topics. Recent presentations include AI security, governance, and regulatory readiness and risk quantification and mitigation of AI systems at venues, including the Korean Insurance Development Institute (KIDI), the NAIC Big Data and Artificial Intelligence (H) Working Group, AASCIF Annual Conference, and the Intelligent Insurer Generative AI in Insurance Conference. In 2023, Tom co-authored "Exploring Large Language Models: A Guide for Insurance Professionals," published through Milliman Insight.

Professional Designations

Fellow, Casualty Actuarial Society
Member, American Academy of Actuaries

Education

BA, Mathematics and Economics, University of Colorado at Boulder

Affiliations

Milliman Property & Casualty Steering Committee, Artificial Intelligence Representative
Milliman Marketing Committee

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Publications

Read their latest work

Article

Exploring large language models: A guide for insurance professionals

03 October 2023 - by Nickolas Alvarado, Deborah Yin, Thomas M. Prince, Erin McFaul

In this introduction to large language models (LLMs) for insurance professionals, we discuss how these components of artificial intelligence are trained to produce accurate results.

Article

Developments in federal marijuana policy and workers’ compensation insurance

04 November 2015 - by Thomas M. Prince

This paper examines the current status of medical marijuana policy and highlights some of the resulting challenges that the insurance industry faces.

Thomas M. Prince

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Experience

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Read their latest work

Exploring large language models: A guide for insurance professionals

Developments in federal marijuana policy and workers’ compensation insurance

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Thomas M. Prince

Experience

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