Ai In Actuarial Science
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Artificial Intelligence and Actuarial Science
This book aims to explore how to automate, innovate, design, and deploy emerging technologies in Actuarial work transformations for the insurance and finance sector. It examines the role of artificial intelligence with process automation in daily monitoring solvency, governance, compliance, data processes, etc. It also explores the usage of Machine learning, telematics system, AI- AI-enabled claim processing software, Big Data and Algorithms, Explainable AI, AI-enabled risk management tools in various actuarial processes. - Presents case studies and best practices with real-world examples of successful and unsuccessful actuarial work transformation initiatives and transformation with emerging technologies - Offers deployment solutions for different applications of AI in actuarial work - Discusses how organizations can effectively incorporate AI into their current practices of Actuarial work - Covers diverse emerging technologies, practices and processes of actuaries from around the globe - Elaborates upon a framework for comprehending how big data and AI developments may affect insurance offers and their supervision - Explains how insurance companies may review and modify their current Risk Management Framework (RMF) to take into account some of the significant differences while implementing AI use cases This reference book is for scholars, researchers and professionals interested in Artificial Intelligence and Actuarial Science.
AI in Actuarial Science
Rapid advances in Artificial Intelligence and Machine Learning are creating products and services with the potential not only to change the environment in which actuaries operate, but also to provide new opportunities within actuarial science. These advances are based on a modern approach to designing, fitting and applying neural networks, generally referred to as “Deep Learning”. This paper investigates how actuarial science may adapt and evolve in the coming years to incorporate these new techniques and methodologies. After providing some background on machine learning and deep learning, and providing a heuristic for where actuaries might benefit from applying these techniques, the paper surveys emerging applications of AI in actuarial science, with examples from mortality modelling, claims reserving, non-life pricing and telematics. For some of the examples, code has been provided on GitHub so that the interested reader can experiment with these techniques for themselves. The paper concludes with an outlook on the potential for actuaries to integrate deep learning into their activities.
Artificial Intelligence and Actuarial Science
This book aims to explore how to automate, innovate, design, and deploy emerging technologies in actuarial work transformations for the insurance and finance sector. It examines the role of artificial intelligence with process automation in daily monitoring of solvency, governance, compliance, data processes, etc. It also explores the usage of machine learning, telematics system, AI-enabled claim processing software, Big Data and Algorithms, Explainable AI, and AI-enabled risk management tools in various actuarial processes. This book: • Presents case studies and best practices with real-world examples of successful and unsuccessful actuarial work transformation initiatives and transformation with emerging technologies • Offers deployment solutions for different applications of AI in actuarial work • Discusses how organizations can effectively incorporate AI into their current practices of actuarial work • Covers diverse emerging technologies, practices, and processes of actuaries from around the globe • Elaborates upon a framework for comprehending how big data and AI developments may affect insurance offers and their supervision • Explains how insurance companies may review and modify their current Risk Management Framework (RMF) to take into account some of the significant differences while implementing AI use cases This reference book is for scholars, researchers and professionals interested in Artificial Intelligence and Actuarial Science.