Having achieved its objectives, the IFoA’s Modelling, Analytics and Insights from Data (MAID) Working Party is disbanding and a new Data Science Member Interest Group (MIG) will be formed.
With the practical application of data science moving from the frontiers to the mainstream of the profession, it is essential that actuaries keep pace with advances in technology and methodology, ensuring the profession remains relevant and fit for the future.
MAID Working Party Achievements
The IFoA MAID Working Party was established to identify opportunities and risks presented by the rapid evolution of Data Science to the actuarial profession and has led the way in developing the actuarial application of Data Science. The cross practice MAID Working Party investigated ‘Big Data’ and emerging thinking associated with modern mathematical tools and techniques to better understand how actuaries might use emerging Data Science techniques and harness this opportunity for the actuarial profession.
Research undertaken by the MAID Working Party has laid the foundations for the IFoA to increase awareness amongst actuaries, provide support to build skills and expertise, collaborate with other professionals and take a lead on the ethics and regulation of Data Science.
New Data Science MIG
The new IFoA Data Science MIG will provide a source of Data Science expertise for the Profession. Drawing from across all seven practice areas, the MIG will champion the use of Data Science techniques in traditional and emerging actuarial fields and to encourage collaboration and understanding of wider issues in Data Science.
The role of the new MIG will be to promote debate, research and member awareness, and to assist the IFoA in achieving our objective of having members of the actuarial profession combine their business skills with a deep understanding of data science.
We are currently recruiting across all seven practice areas to appoint a managing committee to oversee the new Data Science MIG and its structure.
Applications close on 25 July
Please visit our Volunteer Vacancies page for further information.
Look out for further recruitment opportunities to the Data Science MIG, which will be posted on the IFoA website in the Autumn.
Discover our data science resources
As part of our commitment to lifelong learning there are a range of Data Science resources available to ensure our members have the skills they need to thrive in this fast-developing field.