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David Saddington, climate change policymaker and environmentalist, will be delivering the opening address at IFoA’s GIRO Conference 2019. David talks about why he will be travelling by train from London to Edinburgh to attend the conference, rather than by flying…
Author: Dr Alexey Mashechkin
Natural Language Processing is a type of data analysis focused on teaching computers to understand human languages and draw conclusions based on textual input. This article throws light on how NLP techniques can support insurance companies in steering their businesses and better understanding their clients’ needs. We discuss the main benefits and challenges of NLP and an overview of popular approaches, ending with real business cases from the insurance industry.
Next in the series of articles on Data Science.
This article discusses an appropriate framework to approach a data science problem. In the context of a health insurance company, we walk through the necessary sequence of steps: framing the research question; collecting and cleaning the data; exploring the data using graphs and other exploratory techniques; finding appropriate models to fit the data; evaluating each model; and, finally, communicating the results to the audience.
What is data science, where did it come from, and why do we need to learn it? This article discusses the attributes that an actuary would need to develop to be considered a data scientist, unifying into a greater picture the skills that may be learned from textbooks, blogs and online courses. We particularly highlight the areas where additional training may be needed, such as exploratory data analysis, computer science and machine learning. First article of a series on Data Science.
In the fifth of our series on the work of the IFoA’s Practice Area Boards, Mark Williams, Chair of the IFoA’s Pensions Practice Board, blogs about changes and developments in the pensions industry.
Other blogs in this series:
Climate change is one of the biggest challenges facing the world. Scientific research points out that it is predominately driven by human activity. With an increasing focus of attention from regulators, customers and investors, the new “Practical guide to climate change for general insurance practitioners” highlights the impact of these risks on Pricing and Underwriting, Reserving, Reinsurance, Catastrophe Modelling, Investment, Risk Management and Capital Management processes.
Life Board would like to highlight a number of research papers by their working parties which have recently been published in the British Actuarial Journal.
These have included:
The Impact of Wearables and the Internet of Things Working Party investigated the emergence of wearable technology and the internet of things and their current and potential usage within the health and care area. This included considering the impact of wearables on individually underwritten protection products and/or employee benefit schemes. The working party recently completed their research and closed down in January 2019.
In the fourth of our series on the work of the IFoA’s Practice Area Boards, Colin Dutkiewicz, Chair of the IFoA’s Life Practice Area Board, rounds up a busy year for the Board.
Other blogs in this series:
In recent months, some of the biggest insurers in the world have announced their withdrawal of support for the coal industry. Alasdair Smith, member of IFoA’s Resource and Environment Board and general insurance actuary, explores these developments and their implications for actuaries.