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CILA Webinar - Are we in the Era of Actuarial Data Science Modelling?

Wednesday 29 July 2020 09:00 - 10:00

Part of the Current Issues in Life Assurance webinar series

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 others. 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. Join us for an exploration session on the use of data science in insurance companies today. 

During this presentation we will be exploring among other:

• Examples how insurers are making sense of and using new data sources and technologies
• 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 that actuaries can play to harness the benefits of data science.

View the full CILA Conference webinar series

Event organiser

Contact Niki Park for more information.

Niki.Park@actuaries.org.uk

020 7632 2152

The webinar will be 60 minutes to alow time for Q&A.

Speakers: Valerie Du Preez, Dupro Advisory and Rodwel Mupambirei, Lloyd's Banking Group

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