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On demand Webinar: Are we in the era of actuarial data science modelling, and high level exploration of the impact of covid-19 - now available on demand
On demand Webinar: Machine Learning Application for Non Life Pricing and Profitability Analysis - now available on demand
On demand Webinar: Beyond theoretical data science: application to actuarial work: lapse analysis - now available on demand
Actuartech and Montoux Content Series: The Modern Day Actuary
Actuartech and Montoux are partnering on a content series that digs into the heart of what the modern actuary looks like, the challenges and opportunities facing the profession today, and what the actuaries of tomorrow could look like. Read more later on, below...
Virtual Executive Data Science (incl Covid 19) Awareness Series - Learn more
Insurance TechLAB: the programme which supports insurers in benefiting from innovative emerging technologies in a commercially viable way, launched by Actuartech and Venture Agenda
We live in unprecedented times. The challenges faced at the moment given the global pandemic is causing a complete re-think of life as we know it.
Now, more than ever insurers must adapt to change and rethink business models to move to digital tools and capabilities.
How ready have we been for this change and what issues have we been experiencing?
Examples in the media and from experts in the industry include, among other:
Predictive modelling to develop early warnings of the spread of the virus
Predictive modelling to predict the survival curve
Data Analysis to Identify clusters of vulnerable people
Dashboards are being developed that uses data visualisation to track the spread
Data Visualisation techniques are also being used to identify trends and detect anomalies
Natural language processing is helping to identify changes in public sentiment, among other
We know that there will be a significant impact on insurance companies from cover for business interruption and event cancellations, through to health and life insurance claims as well as the economic impact and the need for businesses to operate digitally and manage the new risks associated with that very carefully.
Actuartech, as an insights driven sight is committed to bring you industry relevant content and insights and views on the impact on our roles but also on examples of how, by combining actuarial insight with the data and technology available we can continue to develop solutions and opportunities, even in the current environment.
We will continue to offer our these virtually - see below for examples of online events to take part in today.
Please reach out to hear how you could get involved or if you have examples of how the insurance and technology industry is responding, that you would like to share.
In light of the current situation regarding COVID-19 and government regulations preventing indoor gatherings, we have made the decision to turn our upcoming conferences into VIRTUAL EVENTS.
The conferences will have to be accessed from your notebook/desktop. This will mean more people can join the event, since there’s no travel involved or venue capacity restrictions in place. Whilst there will not be face-to-face audience contact, we will aim to make the virtual event as interactive as possible.
In this new, digitally-driven environment, we hope you will be able to join us virtually and help maintain a sense of community in these challenging and uncertain times, wherever you are in the world.
We can also offer bespoke CPD sessions to actuarial teams, globally in a modern and professional way. Contact us to find out more - feedback received on one of our recent events below:
"I just wanted to say what an interesting presentation that was. Thank you so much for taking the time to put this on for us, it is very much appreciated by all – especially the flexibility around hosting as a webinar instead of the original [in person] format. It worked very well indeed!"
Introduction to Data Science in Insurance: 1 Day Training
21 APRIL 2020 | 9AM - 4PM UK TIME | VIRTUAL CONFERENCE
Improvements in computational power have given rise to the use of data science techniques in a wide variety of areas, including finance, driverless cars, image detection, speech recognition etc. In a world of high volume and varied datasets, data science techniques are invaluable to an insurance professional's toolkit to provide actionable insights from data
An overview of the impact of Data science and possible applications within the Insurance Sector.
An understanding of the main techniques of Data Science including data management, machine learning, text mining, scraping and data visualisation.
Initial insight on how to address hot business topics in different fields of the Insurance Sector by leveraging data, in particular in response to the current Covid 19 economic and pandemic scenario that we are facing at the moment.
Who will benefit from the training? Actuaries or other insurance professionals working in insurance looking to learn how:
Improved data and computational capabilities can tackle insurance related business challenges with increasingly sophisticated approaches
The insurance professional can expand their toolkit by learning practical data science skills
Data Science can be applied in an insurance context, using practical business examples.
We will also provide a high level overview of the various machine learning techniques that are used covering the key supervised and unsupervised learning methods. This will include examples of how data science techniques can be applied in insurance.
Event InformationTuesday 21st April 10 am - 5 pm Virtual conferencing details to be released nearer the time.
For further information or to register for the event click here.
ARE WE IN THE ERA OF ACTUARIAL DATA SCIENCE MODELLING?
A huge increase in data generation, data capture and data storage combined with significantly increased computing power is providing insurers with a unique opportunity to re-evaluate the value that their data can provide; and the technologies available to do that.
Enabling actuaries to embrace modern day data science tools and to work closely with data scientists is an important link that could give strategic advantages to insurers in the further development of actuarial modelling software.
The current economic & pandemic situation is causing insurers to assess the impact quicker and to use modern day tools available to respond and adapt.
Looking forward, the actuary will continue to evaluate key sources of data and need to find ways to incorporate data science that uses state of the art machine- learning and data technologies together with the actuary’s business insights. We need to refresh our methods and make use of emerging technological advances. On Demand Webinar Available Now
Actuartech and Montoux Content Series: The Modern Day Actuary
Actuartech and Montoux are partnering on a content series that digs into the heart of what the modern actuary looks like, the challenges and opportunities facing the profession today, and what the actuaries of tomorrow could look like.
This series will include views from actuaries from around the world. It will seek to answer a couple of key questions, including:
• What is the impact of technology and data science on the actuarial profession?
• What is the role of the actuary in the current Covid 19 environment and the impact on insurers and society?
• Is actuarial training adequately preparing actuaries for the new challenges they face
• How have the tools and technologies available to actuaries changed, if at all?
• What are some major expectations and trends actuaries foresee for the future of the profession?
Some initial views from our respondents are included here:
"We’re facing new challenges today, especially in respect to data science, and this is a problem because we need to be able to collaborate and in order to do this we need a better understanding of IT. And create teams of actuaries and data scientists."
"I think today’s challenges are hard, and while the training process is quite good but it’s mostly a theoretical one. I think we need more practical experience. “
" I think the market today needs more actuaries with IT skills, but in the past it wasn’t like this.”
"Our tools and technologies have not [changed] as much as they should have, there’s still far too much reliance on spreadsheets. I know we’re trying to boost data science and data analytics and some people are starting to adopt that, but I don’t think we’ve really embraced it enough yet."
"Tools and technologies can make sure that we don’t just focus on turning the handle to calculate numbers. I think back in the day, building a model was just to put in random data and see what would come out, but if we can move a little bit further from that and start interpreting data in a different way, and be able to project forward and understand what could happen...it’s forward looking instead of backwards looking."
How can life insurers address low persistency? How can data and analytics help?
We will demonstrate, with the use of a practical case study how the full cycle of actuarial analysis is evolving - from data collection and data enhancement, feature engineering, modelling, verification and ultimately application and communication.
We provided an example application of data science applied to actuarial work
Methods used in non-life pricing are evolving at a fast pace and more advanced actuarial and statistical techniques are being used in pricing, competition analysis and profitability analysis.
Machine Learning and AI techniques are the continuation of the evolution of tools and technologies used by actuaries and statisticians to analyse historical claims data with the aim of; improving the predictive power of models; solving the same problems with new methods; more data and computer power available.
Insurance Data Science Training | Executive Virtual Lunch Series
Introduction: The aim of the executive lunch is to support the leadership or executive team of a particular function or of the company to develop an awareness of the data challenges and opportunities the insurer is facing. It consists of round table discussions over lunch on a regular basis.
As a short-term measure, due to current government restrictions on gatherings in relation to the Coronavirus, these will be held virtually.
The lunches support the executive team to identify and develop key themes related to DataStrategy for their particular function.
The Goal of the training is for Leaders to:
Develop an awareness of Insurance Data strategy trends in 2020, for that particular function or leadership team;
· Share different perspectives and feedback about data topics within their team (s);
· Enrich their understanding of data techniques and practices.
Examples Topics being covered:
•What are the key impacts of Covid 19 on insurance today (and tomorrow)?
•Demystifying statistical learning models
•How to target key, valuable and realistic business cases for the company
•Unleash the power of external and unstructured data
•Big Data, Machine Learning and AI: what is possible and what is not?
•Communication, storytelling and communication power in AI
•Evolution of technologies and processes : operational, effective and scalable approaches
All of our webinars are available on demand and information regarding future webinars and how to register can be found by visiting our website www.actuartech.com/webinars
We are the home of actuarial technology for insight, training and networking.
Actuartech provides leading insights and research on the topic of actuarial technology.
We take technology and data science beyond the theoretical and can uncover, and explain, in simple to understand language the impact it will have and the problems we are trying to solve and ultimately what value it will bring to the organisation. We cut through the noise and bring you the simple, easy to understand insight and practical examples.
Ask us A Question
We are pleased to announce that our On Demand Consultation Portal is now live.
The portal is designed to provide start-ups, individuals and teams with valuable insight, advice and support, on the topic of actuarial technology, where and when you need it most.