SOA Podcasts - Society of Actuaries Entrepreneurial & Innovation: Turning Modeling Headaches into an Actuarial Infrastructure Startup
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Apr 1, 2025 In a captivating discussion, Frank Cheung, CEO and Founder of Accorded, shares his journey from actuary to entrepreneur. He dives into the challenges posed by inefficient data management in healthcare and how these inspired him to create a startup. Frank emphasizes the importance of innovative solutions and automation in improving analytical processes. He also discusses the vital role of effective data management and validation as his company strives to enhance healthcare analytics while competing with established firms.
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From Automation to Entrepreneurship
- Frank Cheung's journey began by automating actuarial tasks at Blue Shield of California.
- This led him to identify the need for scalable actuarial analytics in value-based care at Deloitte.
Being Your Own User
- Frank, being an actuary himself, understood the pain points firsthand.
- He leveraged his network within the tight-knit actuarial community to further validate the problem.
The Core Problem
- Healthcare analytics was time-consuming, expensive, and yet critical, especially in value-based care contracting.
- This presented an opportunity to create more scalable and accessible solutions.