Insights

Farewell to 2020

Author - Valerie Du Preez

Farewell to 2020‍

In this newsletter...
As we say farewell to 2020 we are pleased to announce Actuartech sponsors The Insurance Pricing Game, put your actuarial and data science skills to the test - take part in this exciting competition here‍

Or if you need to develop or improve your data science skills register your interest via our website here‍

Also in this newsletter:

On-demand Webinar: The Evolving Role of the Actuary (a South African Perspective) Watch on demand here
Evolving Role of the Actuary Findings paper - read it here
On-demand Webinar: COVID19 - Operational Resilience, Lessons Learnt: Insurance
On-demand Webinar: The Impacts of Insurtech: Image, Video and Audio applications
Previous webinars available on demand

For more information about any of the above please contact us‍

Season's Greetings and a Happy and Healthy 2021!

From Actuartech

Season's greetings to all of us at Actuartech. The coronavirus pandemic has affected all of us this year in many different ways.

We would like to take this opportunity to thank all the health care staff and key workers who are risking their lives to help others, and offer wishes of hope, health and positivity for 2021!

However you spent the festive season, we hope you enjoy it.

Thank you for reading and subscribing to our updates - your support is greatly appreciated.

Actuartech are proud sponsors of.....
The Insurance Pricing Game

The Pricing Game is a global data science competition with real motor insurance data.

#Active tracks

Real motor insurance data

Build a prediction model for claims

Play in a simulated marketplace

The competition launched in December and closes in February 2021. Results will be announced in March 2021.

Please click on the link below for further information or email info@actuartech.com

Actuartech Data Science Academy Offers

Training Platform designed by actuaries for actuaries
Powerful Web based coding interface supporting multiple languages-no need to install software
Case studies and Assignments relevant to actuarial work, based on relevant datasets provided
Track your progress
Do it yourself - learn on the go, practically and in your own time
Option to Interact and Network with other professionals using the Actuartech Foundation in R Forum
Access to a rich library of resources and further training material, specifically focussed at the actuary.
Training on practical considerations of data science including Data Science Risk, Risk Management, Validation and Interpretability
Access to our team of experts for technical support
Assignments and Certification option available

REGISTER YOUR INTEREST to receive further details.

The Role of the Actuary (a South African Perspective)

Now available on-demand!

In our most recent webinar, we discussed the following topics with our South African Panelists:

What makes an actuary? Our technical and professional skills, the areas we work in and our wider responsibility to society.
The impact of COVID-19 on the actuarial profession, the challenges of remote working, the reliance on technology.
The main industry challenges and changes actuaries are facing and how we can use our skills to respond and adapt.
The role of the actuary yesterday, today & tomorrow - how has the actuaries’ role evolved, the challenges and opportunities facing the profession today, and what the actuaries of tomorrow could look like.
How can data science add additional value to an actuary’s role and what ethical responsibilities does this generate with regards to data?
How can actuaries prepare themselves for these future changes and developments impacting their role?

The discussion is aimed at actuaries but open to a wider audience.

Our expert panelists included:
Lusani Mulaudzi, President Actuarial Society of South Africa
Shabbeer Omar, Head of Advanced Analytics at Sanlam
Pamela Hellig, Director of Client Services at MBE-International
Valerie du Preez, Director Dupro Advisory, Actuartech

Listen on-demand here

Actuartech and Montoux have partnered 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.

We’re excited to share with you the preliminary results from the ongoing survey ahead of our in-depth industry study, which will be published later this year. These preliminary findings include responses from 70 respondents from around the world.

“There have been multiple technology driven changes that have helped us automate various repetitive tasks, thus leaving quality time to be spent on analysis and helping with an organisation’s strategic decision making.” Survey Respondent

By investigating the evolving role of the actuary, we wanted to better understand the value actuaries add within their roles today.

Respondents commented on the importance and value-add of their technical and professional expertise coupled with their foundational analytical skill set, which is increasingly finding new influence and credibility within organisational strategy and decision making. As companies accelerate and diversify how they use data and incorporate more sophisticated analytical techniques, actuaries have found themselves as a logical resource to rely on when companies make strategic decisions.

Read more of our preliminary findings here ....

On-demand Webinar The Impacts of Insurtech: Image, Video and Audio applications

In this webinar, we continue to explore opportunities created by new Insurtech innovations as well as look at how companies are responding.

Insurers have the opportunity to utilise new sources of data and associated technologies and utilise these technologies and other Insurtech innovations to drive better pricing decisions, managing claim costs and reducing operating expenses.

We discuss a brief history of Insurtech and how it is likely to develop in the future. We also explore the application of image, video and audio in the financial services industry and in insurance.

Speakers included Ed Plowman, Experienced international GI actuary, Hugo Clugston, Head of Portfolio Management and Business Planning at Talbot Underwriting Ltd and Cherry Chan., Partner at Barnett Waddingham LLP. The webinar was facilitated by Valerie du Preez, Founder and Managing Director at Dupro & Actuartech.

Listen on-demandOn-demand Webinar COVID-19: Operational Resilience Lessons Learnt: Insurance

As a result of COVID-19, the insurance industry is being affected through the combination of lockdown measures, changing product demand, increased mortality, health & event cancellation claims, & volatile financial markets, among others.

With hindsight, the UK regulators’ focus on operational resilience, as opposed to simple disaster recovery planning, has thus proven to be prescient. It seems likely that regulators will expect firms to report – in some form or other – on their takeaways from the pandemic experience.

In this webinar, we speak with Cresendo Advisors to obtain input on the findings from their Lessons Learnt Operational Resilience benchmarking study.

Crescendo Advisors conducted structured interviews with a selection of risk professionals from insurance firms to understand the impact that Covid-19 has had on their firms & to assess how they responded, what they did well, what lessons they learned, & changes they anticipate as a result of the pandemic experience.

We explore among other:

The impacts on insurance businesses’ operations
After the pandemic experience, what regulators are likely to expect from firms
The challenges that new world of working from home will pose for the design, implementation and documentation of an appropriate functional control environment; and
The likely change the cost-benefit dynamic of outsourcing / off-shoring so that many firms could find it beneficial & desirable to bring activities back in-house.

Speakers included: Isaac Alfon Founder & Managing Director at Crescendo Advisors, Shirley Beglinger Advisory Board Member at Crescendo Advisors, & Helio Correa Head of Risk & Compliance at NHBC (participated in the research that will be discussed). The webinar was facilitated by Valerie du Preez, Founder and Managing Director at Dupro & Actuartech.

Listen on-demand
Available on-demand

Listen to our recent webinars on-demand here: Exploring Ethics & AI within Financial Service | Interpretable Machine Learning

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