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Author: Alex Labram
In our previous article “Statistics vs ML”, we introduced you to the model fitting framework used by machine learning practitioners. We discussed the train / validate / test split, selection of an appropriate accuracy metric, tuning of hyperparameters against the validation dataset, and scoring of the final best-of-breed model against the test dataset.
In this blog, Matthew Edwards, Chair of the Antibiotic Resistance Working Party, discusses the discovery of things unlooked for.
An introduction from John Taylor, President of the IFoA
Both the Royal Statistical Society (RSS) and the Institute and Faculty of Actuaries (IFoA) believe that the emergence of data science – the analysis of large, unstructured datasets often drawing on new kinds of data sources – is an important development.
In the eighth of our series on the work of the IFoA’s Practice Area Boards, Nick Reilly, outgoing Chair, and Chris Reynolds, incoming Chair of the IFoA’s Health and Care Practice Area Board, round up a busy year for the Board.
Other blogs in this series:
Your help is needed to steer research!
As general insurance actuaries, we rely on fresh thinking to take on ever evolving challenges. The practitioner community has mentioned several themes regularly in various forms. How should we continue (or start) tackling them together in the next few years?
The IFoA has published new online content to assist Members to fulfil their Stage 3 PST requirements for the 2019/2020 CPD year under the heading “A Trusted Profession”. This consists of 9 new professional skills videos, each with accompanying discussion videos and related content.
Stephen Redmond, lay Chair of the IFoA’s Disciplinary Board, reflects on how the IFoA’s disciplinary scheme review is a product of collective endeavour.
My first six months as the Chair of the IFoA’s Disciplinary Board have flown by. I have visited the three UK offices and had the pleasure of meeting many of the IFoA’s staff.
By definition, changes in the average human lifespan are realised slowly over time. It can be useful though to reclassify this emergence as the long term result of a series of various trigger events that have occurred at a single point in time. We define these events Longevity Catalysts. Examples of past catalysts could include:
In the seventh of our series on the work of the IFoA’s volunteer-led Practice Boards, Dick Rae, Chair of the IFoA’s Finance and Investment Board, looks at how the Board are honing their outputs to reach and help members working in this area.
Other blogs in this series:
Update to Members on the new AMS Thematic Review Programme
The IFoA has launched its Actuarial Monitoring Scheme (AMS) with the announcement of two thematic reviews.
Other actuary news
Added: Mon, 21/10/2019 - 15:05Empowering actuaries to become data scientists is a key feature of insurance companies successfully harnessing artificial intelligence (AI) to foster change, Microsoft has found.
Added: Mon, 21/10/2019 - 14:45More than £25bn of pension scheme liabilities have been transferred to insurers through eight 'jumbo' transactions in the UK so far this year, analysis by Aon has found.
Added: Fri, 18/10/2019 - 14:25Vulnerability to natural disasters and public infrastructure spending will see the general insurance market in the Philippines grow by more than 25% by 2022, new forecasts suggest.
Added: Thu, 17/10/2019 - 14:18Nearly half of the global reinsurance market is now limiting services for the coal sector after AXIS Capital yesterday became the second US insurer to announce restrictions.
Added: Tue, 15/10/2019 - 12:00The UK, US and China are the most important countries in the world for growth in financial technology over the next two years, new research has suggested.
Added: Mon, 14/10/2019 - 14:20Provisions for collective defined contribution (CDC) pension schemes will be introduced in a Pension Schemes Bill over the next session of parliament, the Queen's Speech confirmed today.
Added: Fri, 11/10/2019 - 12:46The value of mergers and acquisitions (M&A) in the global insurance industry has plummeted over the last year, with new deals also failing to boost share prices.
Added: Thu, 10/10/2019 - 17:15There has been a staggering change in attitude towards the implementation of liability management at defined benefit (DB) pension schemes in the UK over recent years.
Added: Wed, 09/10/2019 - 16:56The governor of the Bank of England has urged major corporations to agree rules for climate risk reporting before mandatory regulations are forced on them.
Added: Tue, 08/10/2019 - 17:50More than two in five UK employers are concerned about the long-term impact that an ageing workforce will have on their business, new research has uncovered.