A huge increase in data generation, data capture & data storage combined with significantly increased computing power is providing insurers with a unique opportunity to re-evaluate the value their data can provide; & the technologies available to do that.
Enabling actuaries to embrace modern-day data science tools & to work closely with data scientists is an important link that could give strategic advantages to insurers in the further development of actuarial modeling software.
The current economic & pandemic situation is causing insurers to assess the impact quicker & use modern-day tools available to respond & adapt. The actuary will continue to evaluate key sources of data & need to find ways to incorporate data science that uses state of the art machine-learning & data technologies together with the actuary’s business insights. We need to refresh our methods & make use of emerging technological advances.
Some are turning to programming languages like Julia, Python,R, etc. With the rise of open-source execution environments computational notebooks programming is becoming more accessible & easy to use.
This provides an interesting alternative for actuaries to execute large amounts of statistical calculations & see the results with the latest data visualisation techniques.
In this webinar, we explore:
- Examples of how insurers are making sense of & using new data sources & technologies, including an exploration of data strategy
- Exploration of practical applications of data science within actuarial work
- The benefits of data-driven decisions to solve business problems using the power of data and technology
- The role actuaries can play to harness the benefits of data science including an overview of the ethical considerations for practitioners in data science
Webinar Speakers: Valerie du Preez & Rodwel Mupambirei
AI has become more and more popular within the financial industry, and many insurers have started out on their AI journey. We will talk about some of the worries around delegating decisions to machines, and how to overcome some of these challenges.
The challenges faced at the moment given the global pandemic is causing actuarial teams to change their operating models significantly. How ready have we been for this change and what issues have we been experiencing?
Explainable Machine Learning Machine learning techniques have become more and more popular within the financial industry mainly because of the potential to capture complex interactions from data the potential for better predictive models than traditional statistical models the ability to capture non-linear interactions within a range of inputs
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.
We 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.
IFRS17 has been deferred by another year.... The IASB decided that IFRS 17 will come into force on January 1, 2023. Join our webinar as we look at what this means for insurers. We will look back at recent progress made on IFRS 17 implementation by insurers. We will also look at the opportunities available to insurers to make the most of the extra year.
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.
How can life insurers address low persistency? How can data and analytics help? Join our webinar on Friday 12 March 12pm as we discuss how the full cycle of actuarial analysis is evolving
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.
Improvements in computational power has 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.
In the current economic climate, insurers need to improve their processes continually – making them more efficient and cost-effective while maintaining the agility to deal with new requirements. At the same time, technological change is providing new ways of achieving these objectives. In particular, the term ‘robotics’ appears to be used everywhere, and it is important to grasp the impact and potential use of these new technologies.
Listen to Valerie du Preez, founder and Managing Director of Actuartech, on the panel for Legerity's IFRS 17 webinar discussing, "Can IFRS17 help deliver digital transformation?".
In a world of high volume and varied datasets, data science techniques can add valuable tools to an actuary’s toolkit to provide actionable insights from data.
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.
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