Explore utilising advanced data science techniques in the context of pricing and reserving, including traditional actuarial methods, and data cleaning, in this end to end walkthrough of predicting the frequency of claims for non-life insurance contracts to assess risk.
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If you’re looking to learn how to utilise advanced applications of Python in an insurance context, this course is ideal for you. An individual subscription gives you 3 months’ online access to:
As Well As
Our Industry and Actuartech Resource Libraries which feature curated additional content to assist you on your data science journey.
You can also request to access to a coding project to practice the skills you learn in this course.
In this case study, we utilise data science techniques to analyse motor claims. This case study is designed to give a broad overview of basic machine learning techniques that can be used to model data in the context of a non-life insurance company.
By fitting advanced data science models, we aim to predict the frequency of these claims to assess risk in the context of pricing and reserving. These techniques will be applied to a particular dataset in conjunction with more traditional actuarial techniques, including a comparison of performance in both instances with the results produced explained. In addition, we will touch on how certain models could potentially be fine tuned to yield better and more explainable models.
If you're not already familiar with Python, we recommend that you start with our Foundations in Python course.
Chapter 1 is the Introduction & Problem Specification, which discusses the business context and provides further readings and resources.
Chapter 2 addresses Data Collection & Data Management, in which we discuss the libraries we use in the course and provide an overview of the data.
Chapter 3 outlines Model Building, addressing the training and testing sets split, “Dummy” estimators, automating the process, and various models.
Chapter 4, the Conclusion, concludes the course by discussing visualisations and next steps.
Chapter 5 is the Appendix & Further Reading.
We have tailored packages available to ensure that corporate teams have the option to attend structured live lessons by our tutors, and the option to request a practical assignment and bespoke feedback. Invoicing option available.
