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Philip S. Borba, PhD, CSPA

Principal and Director-Economics Consulting
New York, NY, US

Tel: +1 646 4733404

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  • BA (with honors), Economics, University of California at Berkeley
  • MS, Labor Economics, Cornell University
  • PhD, Labor Economics, Cornell University
  • CSPA, Certified Specialist in Predictive Analytics, Casualty Actuarial Society

Current Responsibility

Philip Borba is a principal and director, economics consulting. He joined Milliman’s New York office in 1989.


Philip has been working with data mining and insurance analytics companies to develop software that processes, organizes, and performs analytics on unstructured insurance data. The free-form text data has included claim adjuster, diary, auditor, and payment transaction notes, as well as reports from external sources. Philip has developed techniques that enable clients to score and rank claims for claim segmentation, claim triage, and recovery potential, among other outcomes. The data processed through the software cover the major lines of property and casualty insurance lines, including personal and commercial automobile, homeowners, workers compensation, and general liability.

Philip has worked extensively on the development and analysis of large databases for property and casualty insurance industry applications. He has been the project manager for an assignment with a leading national research organization to assemble data from more than 20 property and casualty insurers, third-party administrators, and medical bill review firms.

Philip has performed similar projects for individual national and regional workers compensation insurers, employer associations, and workers compensation state funds. He has also worked on other lines of insurance, including private passenger automobile, homeowners, general liability, crop, and life.

Prior to joining Milliman, Philip was an assistant vice president in the economics research department of the National Council on Compensation Insurance. He has worked extensively on the development and analytics of large databases and the application of economic and financial models to property and casualty insurance issues.


Philip has made presentations at public seminars and conferences sponsored by the Casualty Actuarial Society, the Society of Actuaries, and other insurance organizations on matters concerning text mining (e.g., data analytics, and the association between cell phone use and automobile accidents), cost of capital, and workers compensation public policy issues (e.g., preauthorization for medical care and use of medical treatment guidelines).


Philip has been a co-author for research studies completed by Milliman, Inc. concerning the estimated costs of Hepatitis-C claims on workers compensation insurance programs and the potential economic impacts of pandemic influenza on individual employers. Philip has been a co-author with a national research organization on four studies concerning workers compensation insurance, including the impacts of preauthorization of medical care, permanent partial beneficiaries, return-to-work outcomes, and the impact of provider choice laws and network involvement on workers compensation medical costs.

  • Work at Milliman

    • “I was offered a chance to come in, shake things up, create something."
    Work at Milliman