Technical Issues in General Insurance provides content across all key areas of the general insurance sector whilst also offering cross-practice area technical topic deep-dives. Due to the COVID-19 we are running the programme as a series of six webinars commencing 22 June. The webinars cover current and topical issues including data science approaches and their relevance and use in actuarial pricing, best practices for developing and deploying web-based pricing tools, outcomes of the Lloyd’s Validation Review 2019, and much more.
To view the full list of webinars in this series, please select the 'Programme' tab below where you can book by clicking on the individual titles. More webinars will be added shortly.
Although primarily aimed at actuaries, the webinars may also be of value to others who have an interest in General Insurance.
Contact Niki Park for more information.
020 7632 2152
|Date: 22 June|
09.00-10.00: Lloyd’s Validation Review Outcomes 2019
The Lloyd’s syndicate capital team would like to present the findings of the recent market validation review. The presentation will cover themes from across the market, such as common areas where improvements are required, as well as some examples of best practice. We intend to look at a few areas of validation in some detail, as opposed to covering an overview of all areas.
Speakers: Mirjam Spies and Rebecca Soraghan, Lloyds
|Date: 24 June|
Backtesting is one of the more valuable tests performed when validating internal models: it tells us something about model output relative to results observed historically (hopefully that the two are in agreement!)
However, validating dependencies in this way is often challenging. For any pair of risks, we can calculate the historical correlation, but this only provides a single data point to rely on. There is also no guarantee that this figure will bear much resemblance to the selected correlation being modelled.
Our overall aim is to discuss a framework for validating this aspect of capital models in a useful and structured way, based on a recent case study.
The main areas of the talk will be as follows:
We will also discuss some potential other uses for the methodology, focusing on enhancements to a typical ESG validation exercise.
Speaker: Neil Gedalla, LCP
|Date: 1 July|
12.00-13.00: Pricing like a Data Scientist
The presentation will cover a summary of my findings over the past few years of working on the boundary between data science and actuarial. I will describe and review several data science approaches and discuss their relevance and use in actuarial pricing. I will present a list of recommendations ranked by reward/effort. Examples presented will be based on the R statistical language but the presentation will not be code-heavy, more a discussion of approaches and techniques, and importantly, what we can learn from our colleagues in the data science field.
Approaches discussed will include:
Much discussion is around GLM's and related techniques but examples from commercial lines will also be included, where the issues of data paucity and accuracy are more important.
Speaker: Matthew Evans, EMC Actuarial and Analytics
|Date: 2 July|
Machine learning can significantly enhance insurers’ reserving processes. However, moving to business as usual can be challenging.
We will openly share practical applications and lessons learned from embedding machine learning in reserving, including:
No prior technical knowledge of machine learning techniques is required.
Speakers: Tom Durkin, LCP and Hazel Beveridge, Pioneer
|Date: 6 July|
Across the General Insurance market actuarial pricing tools are being migrated from Excel to web-based technologies. Web based pricing technology offers many synergies with AI and Machine Learning. But they are often hampered by poor design and practically always perform worse than their Excel counterparts!
The following will be presented:
This talk will be accessible without prior knowledge of web-technology or actuarial pricing.
Speaker: Edward Anderson, Probitas 1492
Nearest Public Transport
Members - £15.00
Non-members - £35.00