October 2019 Newsletter

Insights
Author
Valerie Du Preez
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Practical Data Science Event

Recap

On the 19th and 20th September, Actuartech and Reacfin hosted "An Introduction to Data Science in Insurance", a training event.

The event was a huge success and we would like to thank all those who attended and for their valuable input, some feedback below: "....it was a really good introduction to Data Science and afterwards I felt that I now have a platform that I could use to further my understanding in this area."  

We look forward to hosting our next training event in the coming months - dates and further information will be available on our website shortly.

Adopting AI in Insurance  

Risk Management Perspective

On the evening of the 19th September, Actuartech hosted a roundtable discussion on the above topic over dinner at an exclusive Members Club in London.

We explored how AI can become a source of competitive advantage in insurance - and the role the actuary and risk management function can play.

We discussed:

  • Whether a different mindset is needed when it comes to modern day enterprise risk management?
  • How to develop a modern day approach to risk management including exploration of a revised Target Operating Model?
  • The impact digital technologies could have on the risk management function of the future?
  • Where organisations and individuals may need to change to benefit from digital advances?
  • The potential Impact on the workforce?

And much more!

The event was a huge success and the discussions were engaging, thought provoking and insightful - and not to mention an incredibly delicious dinner also.

"Thank you for having me along. I really found it the most motivating conversation I’ve had in a while, and made me think about what I’m trying to achieve within this area...  We all need evenings like that to get some perspective on what we *think* is going on and what actually is.  It was a very good evening."

We would also like to thank our guest speaker, Isaac Alfon and all our attendees for their valuable and inspiring input.

Interpretable machine learning Webinar

On the 13th September, we hosted a webinar on, "Interpretable Machine Learning live webinar."


Sophisticated machine learning models have the potential for high predictive accuracy but their complexity may sometimes result in black box models, which, in some cases, may appear to be a trade-off between accuracy and interpretability.  For the actuary, the ability to articulate the outputs of a model is important and becomes crucial where models are used to inform important business decisions or where stakeholders need to understand the underlying dynamics of a system, and the impact of the results.

The presentation covered:

  • The importance of interpretability
  • What it means to have an interpretable machine learning model
  • Examples of approaches that have been used to provide interpretability  
  • A practical case study showing an example approach to explain model predictions.
  • Q&A

The webinar was extremely well received and we had some fantastic feedback:

"I attended the webinar you hosted last week on ML. Really good presentation, and great to see actuaries pushing the frontier."

"It was really helpful for me, you have explained clearly the steps to reach a phase of Interpretable algorithms."  

Many thanks to all our guest speakers for their wonderful input.

Listen to the webinar on demand here.

Upcoming Webinar - IFRS 17: How Digital Transformation Impacts the Role of Finance and Actuarial

On Thursday 3 October 10 am, BST, we will be joining Legerity and a panel of experts on the topic of Digital Transformation and the role of the Actuary.

The Agenda will cover:
The future of finance in a digital world
The changing role of the actuary
Can IFRS17 help deliver digital transformation
Should IFRS 17 be approached from a finance or an actuarial systems perspective
How technology supports collaboration between finance and actuarial

Sign up here...

Upcoming Events           South Africa 2020

After recently hosting successful events in London, we are pleased to announce that we are planning to host events on Data Science and IFRS 17 in Cape Town and Johannesburg.

DETAIL TO BE RELEASED SOON.

To be kept up to date and to register your interest by emailing info@actuartech.com.

Important Update: Our Consultation Portal Goes Live

We are pleased to announce that we have launched our On Demand Consultation Portal.

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.  Anyone is welcome to join!

Ask us to join here:

info@actuartech.com

Coffee in Cape Town

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

No need to book. Join us for a cuppa on a Friday - every last Friday of the month, Cape Town.

Sponsorship Options

Find out more about sponsorship opportunities for 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, October 2019

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