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Gaining Trust in Predictive Models—an Actuarial Perspective
Actuarial Perspective This article provides an overview of activities that should be considered by an actuary ... provides an examination of various methodologies that can be implemented in the validation process. By ...- Authors: David Alison FSA (David)
- Date: Sep 2021
- Competency: Communication; External Forces & Industry Knowledge; Results-Oriented Solutions; Strategic Insight and Integration; Technical Skills & Analytical Problem Solving
- Publication Name: The Financial Reporter
- Topics: Predictive Analytics>Modeling techniques; Predictive Analytics>Quality control & model governance; Technology & Applications>Artificial intelligence & machine learning
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When Affordability Savings Do Not Reduce Costs
Affordability Savings Do Not Reduce Costs Regression to the mean is a phenomenon that arises when comparing sequential ... closer to the average. Health care actuaries need to understand and be able to mitigate the effects of regression ...- Authors: Tony Pistilli
- Date: Dec 2020
- Competency: Results-Oriented Solutions; Technical Skills & Analytical Problem Solving
- Publication Name: Health Watch
- Topics: Modeling & Statistical Methods>Forecasting; Modeling & Statistical Methods>Regression analysis; Predictive Analytics>Modeling techniques; Predictive Analytics>Quality control & model governance
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What Actuaries Can Learn from Data Scientists
Actuaries Can Learn from Data Scientists A description of Data Science best practice tools and how they can ... without a data science background, there are a lot of small things to learn from data scientists that can ...- Authors: Nicholas Hanewinckel
- Date: Aug 2021
- Competency: Relationship Management; Technical Skills & Analytical Problem Solving
- Publication Name: Predictive Analytics and Futurism Newsletter
- Topics: FinTech & InsurTech; Predictive Analytics>Programming languages & tools; Predictive Analytics>Quality control & model governance
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GET BETTER ACQUAINTED WITH YOUR KNOWN UNKNOWNS
YOUR KNOWN UNKNOWNS Uncertainty of a predictive model is a fact of life that many insurers could be ... framework for assessing it. The article provides a framework to understand the prediction uncertainty, which ...- Authors: Dan Kim, Boyang Meng
- Date: Apr 2020
- Competency: Results-Oriented Solutions
- Publication Name: Predictive Analytics and Futurism Newsletter
- Topics: Experience Studies & Data>Mortality; Predictive Analytics>Modeling techniques; Predictive Analytics>Quality control & model governance