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Modelling, Analytics and Insights from Data

This cross practice working party was established to investigate “Big Data”. Primarily focused on the latest and emerging thinking associated with modern mathematical tools and techniques, the working party will explore how the actuary may utilise these techniques to remain practical and add value to the businesses it serves

The GI Board will supervise the strategic outputs of this working party however, it remains a cross practice initiative with regular input from other practice area boards and members.

Key objectives:

This Working Party was created to:

  • further understanding of the latest in data science, big data, predictive analytics, machine learning and an ever wider range of mathematical techniques based on operational research, probability and statistics
  • develop a tool kit for members of the profession dealing with techniques now associated with colloquial terms including but not limited to data science, predictive analytics, machine learning and big data
  • consider where such tools and techniques are currently used; what sort of actuarial problems they might be applicable to; their implications for education, exams and continual professional development or the various codes of conduct
  • outline ways in which this work can be made continual - and identify emerging areas that offer special opportunity in current or new domains
  • undertake any other work and research as relevant and appropriate.

Keep up to date with the most recent developments in the data science realm, including outputs of the MAID Working Party, with the Data Science Digest.

Outputs

2019

Presentations from MAID Working Party Wrap Up Event, 21 May 2018

Outputs from GIRO 2017

Outputs from 12 May 2016 Data Science Universe Event:

Other outputs

Chair: Michael Tripp
Membership: 30+
Established: 2016

 

Contact Details

If you want more information about this research working party please contact the Communities Team.

professional.communities@actuaries.org.uk

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Start date
E.g., 28/07/2021
End date
E.g., 28/07/2021

Events calendar

  • Asia Conference 2021 webinar series

    Online webinar series
    26 July 2021 - 30 July 2021
    Spaces available

    We have made it through 2020 but the COVID-19 crisis continues to have a significant impact on individuals, societies, businesses and the wider economy across the globe. Navigating the world post COVID-19 in an uncertain and highly unstable time brings along many uncertainties, challenges and exciting opportunities. Hence the theme of this year’s IFoA Asia Conference Webinar Series is “Risk. Adapt. Thrive.”

  • CMI Income Protection

    30 July 2021

    Spaces available

    In April 2021, the CMI Income Protection Committee published Working Paper 149, which detailed the changes to analysis methodology for the Income Protection Investigation and the impact of past data issues. This webinar will provide an overview of the changes in the analysis approach and discuss the adjustments to the IP11 claim inceptions graduations.

  • Spaces available

    Louise Pryor, IFoA President, will chair this free-to-view session, in which Alex Darsley, TPR, Actuarial Regulatory Policy, will be discussing the regulator’s Climate Change Guidance Consultation, which is seeking views on new guidance designed to help trustees meet tougher standards of governance in relation to climate change ri

  • Spaces available

    Risk Management Webinar ProgrammeInternal audit is often the Cinderella of the audit world. It’s a regulatory requirement for insurance companies to have an internal audit function, so why not make it as useful as possible?  This session will look at how to link an internal audit plan to the risk register, and how that helps audit committees and boards to spot problems and fix them.

  • Spaces available

    Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.