WE ARE IN THE ERA OF ACTUARIAL DATA SCIENCE MODELLING - LEARN THROUGH CASE STUDIES WITH R
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.
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.
Some are turning to programming languages like Julia, Python and R; among other. With the rise of open-source execution environments computational notebooks, programming is becoming more accessible and easy to use.
This provides an interesting alternative for actuaries to execute large amounts of statistical calculations and see the results with the latest data visualisation techniques.
Participation is flexible: you can sign up for Day 1, Day 2, Day 3 or all days according to your needs and availability. Please see below a brief outline of each training day with a link to the relevant event and additional course information.
Introduction to Data Science in Insurance: Johannesburg
Training Event | 21 April 2020
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.
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 Information Tuesday 21st April 10 am - 5 pm, Hilton Sandton Johannesburg
For further information or to register for the event click here.
Insurance & Insurtech Breakfast Johannesburg
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 at the Hilton Sandton in 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
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 Information Tuesday 21st April 07:30-09:30 am, Hilton Sandton Johannesburg
For further information or to register for the event click here.
Exploring Ethics & AI within Financial Services Webinar
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.
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
Demand Driven Innovation - Insurance Tech Lab is an industry-specific SME engagement programme which connects insurers with emerging technologies and early stage businesses that can solve real-world challenges to deliver measurable insights and ROI.
“Insurance techLAB’s framework introduces processes and technologies ensuring that insurers can increase value and efficiency and achieve a measurable ROI from their innovation activities.”
We live in a world of constant change and unlimited opportunity, where the insurance industry is constantly seeking to achieve and master transformational and value-added innovation, we see collaborative, ROI-focused innovation as the path which will shape the future. We have made it our mission to help forward-looking leaders in the insurance industry to collaborate safely, and effectively, with the innovators and emerging technologies that will shape the world of tomorrow.
Insurance techLABis currently on-boarding insurers and programme sponsors worldwide and will solve industry-specific challenges ranging from efficiency to growth, compliance and value creation.