December 2019 Newsletter

Insights
Author
Valerie Du Preez
Download PDF


Hi Actuartech,

The Actuary in a World of Data and Technology: Webinar 19 Dec 2019

Register here.

19th December 12 pm GMT

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.

Enabling actuaries to embrace modern day technologies and data science tools and to work closely with other experts in these fields are important links that could give strategic advantages to insurers in the further development of insurance.

For actuaries the rise of data at large is a sign that their role is more crucial than ever. 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 other technologies together with the actuary’s business insights. Do we need to refresh our methods and make use of emerging technological advances?

Join us for a recorded panel discussion to explore: Where do actuaries fit within the data science and technology picture?

We will be covering, among other:

   - What are the skills actuaries need to learn to take advantage of the exponential increase in data?

   - Are data scientists and the rise of big data, ML and AI a threat to the actuarial profession

   - How best can the two communities work together?

   -  What other opportunities does this open for actuaries outside of insurance?

The views presented will be the presenters’ own.

Please note this will be a pre-recorded session.

List of presenters:

Geoff Keast co-CEO Montoux

Valerie du Preez, MD Dupro Advisory & actuartech.com

Anna Spender, Director of Actuarial & DataAnalytics, Psyon

Jaco Oosthuizen, co-founder and Chief Insurance Officer YuLife

Marguerite Fevrier, Head of Client Management - Life Reinsurance, AON

Register here for the 19 December Role of the Actuary webinar here.

The Evolution of Actuarial Modelling

Insights Article

We explore the history of actuarial modelling in life insurance and consider modern day alternatives to traditional software.


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.
Read the article here

Exploring Ethics & AI within Financial Services

17th January 2020 12pm GST

Actuartech is delighted to present a talk on Exploring Ethics & AI within Financial Services. This talk will take the form of an online webinar, with each of the speakers presenting, followed by a Q&A session.

Talk Details:

Improvements in computational power have given rise to the use of data science and artificial intelligence techniques in a wide variety of areas, including finance, driverless cars, image detection, speech recognition etc. This is directly impacting business practices within the financial services through its application within banking, insurance and asset management.

It also gives rise to a wide range of ethical questions and the importance of integrating ethical considerations within business.

We will explore:

1. Why ethical challenges are increasing as the volume and variety of data increases?      

2. The impact of ethics within data science

3. Emerging ethical issues within the field of AI

4. The role that technology can play

5. Exploring the changing role of professionals and government/regulators within financial services

This talk will cover ethical considerations at a high level and the views presented will be the presenters’ own.

Register for the 17 Jan Exploring Ethics & AI Webinar here.


For further information about any of our webinars, please email info@actuartech.com.

Upcoming Events

South Africa

Insurance and InsurTech Roundtable Event

We are very excited to announce that our next round table discussion with finance and actuarial leaders from across the insurance spectrum will be held in Cape Town and Johannesburg.


The roundtable, hosted by Dupro and Actuartech, will bring together business leaders from Insurance and Technology - providing a platform for collaboration on the challenges and opportunities of the digital insurance technology landscape.

This event will explore opportunities created by new Insurtech innovations as well as look at how companies are responding.

Insurers have the opportunity to optimise their processes and create new sources of revenue by rethinking their traditional business models with the use of modern day technologies.

Key topics that will be discussed:

1. How will actuarial and finance functions adapt in the new digitally driven environment?

2. An update on the changing technology landscape given regulatory, statutory, operational and legal pressures including

IFRS 17, Impact of Data Science, and Digital delivery models

3. Emerging roles for finance leaders

Roundtable objectives:

1.Learn about the latest research in this field
2. Leave with an understanding of what digital technologies are and how developments are impacting the insurance industry from a finance and actuarial perspective
3. Appreciate the impact these developments could have on the finance and actuarial function of the future
4. Understand where organisations and individuals may need to change to benefit from the advances
5. Impact on the workforce
6. Interact with peers and colleagues in a discussion of this topic


Event Dates

2nd April 2020 7:30am - 9:30 am in Cape Town More info here

3rd April 2020 7:30am - 9:30 am in Johannesburg Register here

Please keep visiting our website
www.actuartech.com for further updates regarding this event.

Introduction to Data Science in Insurance:  One day training events

South Africa

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.

The event, hosted by Dupro and Actuartech, will aim to provide:

  • 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.

Who will benefit from the training?

Actuaries or other insurance professionals working in insurance looking to learn how:

  1. Improved data and computational capabilities can tackle insurance related business challenges with increasingly sophisticated approaches
  2. The insurance professional can expand their toolkit by learning practical data science skills
  3. 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 Dates:
2nd April 2020 10 am - 5 pm in Cape Town More info here.

3rd April 2020 10 am - 5 pm in Johannesburg Register here.


Please keep visiting our website www.actuartech.com for further updates regarding these events.

The Power of Computational Jupyter Notebooks: On demand content available

On the 8th November, Actuartech was delighted to present a webinar on The Power of Computational Jupyter Notebooks.

Computational notebooks provides a modern day coding environment for users to perform data cleaning, data analysis, statistical modelling, numerical simulation and data visualisation.

Jupyter provides a free, open source interactive web tool for combining various coding and data analysis resources in one single document.

We discussed:

1. An overview of computational notebooks

2. An introduction to the Jupyter ecosystem

3. The power of Jupyter

4. Application use cases for actuaries

5. A short interactive demo in a notebook showing code execution

6. Practical tips to get started

We will also provide an opportunity for participants to ask questions.

Access the webinar on demand here.

An introduction to Data Science for Actuaries - Recap of event

On the 21st November, Actuartech hosted An Introduction to Data Science for Actuaries training event at Spaces V&A Waterfront in Cape Town.

Data Science is rapidly developing and quickly becoming an essential tool for modelling and statistical investigations. It opens up a world of data discovery, data visualisation and predictive power. Therefore, there has never been a better time to explore the benefits of data science.

The evening was hosted by Michael Jordan (FASSA/CERA) from Actuartech, who is known for explaining complex topics in an easily understandable way.

The evening was a huge success and we were pleased to receive some incredible feedback...

" I had a (happy emoji) evening it was a life changing event "

"Thanks a lot for sharing your knowledge with us personally.  I'm not confused anymore. I know exactly what it means and [thank you for] defining data science"

"I loved the event. It was amazing for me."

Thank you to all who attended and Michael Jordan for hosting such a fantastic event.

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.

Book a free 30 minute consultation with our experienced in house tech actuary Michael Jordan here.  

Cape Town Actuartech   Meet-up Group...

We have a new WhatsApp group for Cape Town to share regular topics of interest and to be notified about upcoming events.

Ask us to join here:

info@actuartech.com

Monthly Coffee Meetup in Cape Town - last Friday of every month, back in 2020!

No need to book. Join us for a cuppa on a Friday - every last Friday of the month, back in 2020, Cape Town: info@actuartech.com for any questions

Sponsorship Options

Find out more about sponsorship opportunities with Actuartech for upcoming podcasts, videos, and events, info@actuartech.com.

Get in Touch

Actuartech wants to hear from you!

We would love to hear your thoughts on our newsletter and the articles featured and any suggestions you may have for next month.

Our Facebook page is now live - please take a look and give us a Like!

You can email us at info@actuartech.com or visit our website to learn more about Actuartech and access our unique database of vendors for specific technology solutions.

We look forward to hearing from you and thank you for reading.

Actuartech, December 2019


You may also like these...

Newsletter

Keep up-to-date

Sign up to our newsletter for the latest in Actuarial technology

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.