Are we in the era of actuarial data science?

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

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