• Help Center
  • Future Actuaries
    What is an Actuary?
    Why Become an Actuary?
    How to Become an Actuary?
    Affiliate Membership
    Access Affiliate Benefits
    Candidate Events
  • Education & Exams
    Designations & Credentials
    Exams & Requirements
    University Resources
    Educational Pathways Associate of the Society of Actuaries (ASA) Fellow of the Society of Actuaries (FSA) Chartered Enterprise Risk Analyst (CERA) Micro-Credentials
    Exam Registration Exam Results New ASAs, CERAs and FSAs Past Exams and Solutions Validation by Educational Experience (VEE) General Information CIA Candidate
    Universities & Colleges with Actuarial Programs (UCAP) CAE: Centers of Actuarial Excellence University-Earned Credit (UEC) Program Hickman Scholars Program Academic Benefits
  • Professional Development
    Major Meetings
    Professional Development Edge
    PD Tools & Resources
    Asia-Pacific Symposium China Symposium Health Meeting ImpACT Conference Middle East, Africa, S. Asia Symposium ReFocus Conference ValAct Meeting
  • Research Institute
    Research By Topic
    Experience Studies Pro
    Tables, Calculators & Modeling Tools
    Research Opportunities
    Actuarial Research Clearing House (ARCH)
    NAAJ Practical Application Essays
    About the SOA Research Institute
    Aging & Retirement Artificial Intelligence Catastrophe and Climate COVID-19 Disability Diversity Equity & Inclusion Finance & Investment General Insurance Global Health Care Cost Trends Innovation & Technology Life & Annuities Long-Term Care Mortality & Longevity Predictive Analytics & Modeling Risk Management U.S. Population Valuation/Illustrations
    Sponsorships Proposal Requests Data Requests Calls for Papers Funding & Grants Competitions & Awards Academic & Student Research
    Strategic Research Programs Trending Research Recently Published Research Volunteer with the SOA Research Institute
  • Sections & Communities
    Explore Evolution to Communities
    Sections
    Emerging Topics Community
    Evolution to Communities Community Governance Communities FAQs
    About SOA Sections Actuary of the Future Education & Research Entrepreneurial & Innovation Financial Reporting Health International Investment Joint Risk Management Leadership & Development Long Term Care Insurance Marketing & Distribution Modeling Predictive Analytics & Futurism Product Development Reinsurance Retirement Smaller Insurance Company Social Insurance & Public Finance Taxation Technology
  • Tools & Resources
    Connections
    Actuarial Practice
    Other
    Publications
    SOA Explorer SOA Engage SOA Cares Actuarial Clubs Actuarial Directory Listservs Employers
    Mortality and Other Rate Tables (MORT) Relative Risk Tool Annuity Factor Calculator
    Longevity Illustrators Actuaries Climate Index Predictive Analytics MentorLink
    The Actuary Magazine North American Actuarial Journal (NAAJ) SOA E-Newsletters Actuarial Books Writing Opportunities With the SOA
  • About SOA
    About SOA
    Governance
    Membership
    Newsroom
    Topics in the News
    Volunteer Program
    Contact SOA
    Job Opportunities
    Legal Center
    Strategic Plan Diversity, Equity & Inclusion Societal Purpose
    Strengthening Our Board Board of Directors Elections Staff Leader Disciplinary Determinations
    Dues for Membership CPD Requirement Join an SOA Section or the Emerging Topics Community Read Member Obituaries
    SOA News SOA Board of Directors Communications
    Predictive Analytics InsurTech
    Volunteer Opportunities SOA Awards
    Customer Service Center Department Directory
    Job Center Careers at SOA
Log in / My SOA
search
  • Help Center
  • Future Actuaries
    • What is an Actuary?
    • Why Become an Actuary?
    • How to Become an Actuary?
    • Affiliate Membership
    • Access Affiliate Benefits
    • Candidate Events
  • Education & Exams
    • Designations & Credentials
      Educational Pathways Associate of the Society of Actuaries (ASA) Fellow of the Society of Actuaries (FSA) Chartered Enterprise Risk Analyst (CERA) Micro-Credentials
    • Exams & Requirements
      Exam Registration Exam Results New ASAs, CERAs and FSAs Past Exams and Solutions Validation by Educational Experience (VEE) General Information CIA Candidate
    • University Resources
      Universities & Colleges with Actuarial Programs (UCAP) CAE: Centers of Actuarial Excellence University-Earned Credit (UEC) Program Hickman Scholars Program Academic Benefits
  • Professional Development
    • Major Meetings
      Asia-Pacific Symposium China Symposium Health Meeting ImpACT Conference Middle East, Africa, S. Asia Symposium ReFocus Conference ValAct Meeting
    • Professional Development Edge
    • PD Tools & Resources
  • Research Institute
    • Research By Topic
      Aging & Retirement Artificial Intelligence Catastrophe and Climate COVID-19 Disability Diversity Equity & Inclusion Finance & Investment General Insurance Global Health Care Cost Trends Innovation & Technology Life & Annuities Long-Term Care Mortality & Longevity Predictive Analytics & Modeling Risk Management U.S. Population Valuation/Illustrations
    • Experience Studies Pro
    • Tables, Calculators & Modeling Tools
    • Research Opportunities
      Sponsorships Proposal Requests Data Requests Calls for Papers Funding & Grants Competitions & Awards Academic & Student Research
    • Actuarial Research Clearing House (ARCH)
    • NAAJ Practical Application Essays
    • About the SOA Research Institute
      Strategic Research Programs Trending Research Recently Published Research Volunteer with the SOA Research Institute
  • Sections & Communities
    • Explore Evolution to Communities
      Evolution to Communities Community Governance Communities FAQs
    • Sections
      About SOA Sections Actuary of the Future Education & Research Entrepreneurial & Innovation Financial Reporting Health International Investment Joint Risk Management Leadership & Development Long Term Care Insurance Marketing & Distribution Modeling Predictive Analytics & Futurism Product Development Reinsurance Retirement Smaller Insurance Company Social Insurance & Public Finance Taxation Technology
    • Emerging Topics Community
  • Tools & Resources
    • Connections
      SOA Explorer SOA Engage SOA Cares Actuarial Clubs Actuarial Directory Listservs Employers
    • Actuarial Practice
      Mortality and Other Rate Tables (MORT) Relative Risk Tool Annuity Factor Calculator
    • Other
      Longevity Illustrators Actuaries Climate Index Predictive Analytics MentorLink
    • Publications
      The Actuary Magazine North American Actuarial Journal (NAAJ) SOA E-Newsletters Actuarial Books Writing Opportunities With the SOA
  • About SOA
    • About SOA
      Strategic Plan Diversity, Equity & Inclusion Societal Purpose
    • Governance
      Strengthening Our Board Board of Directors Elections Staff Leader Disciplinary Determinations
    • Membership
      Dues for Membership CPD Requirement Join an SOA Section or the Emerging Topics Community Read Member Obituaries
    • Newsroom
      SOA News SOA Board of Directors Communications
    • Topics in the News
      Predictive Analytics InsurTech
    • Volunteer Program
      Volunteer Opportunities SOA Awards
    • Contact SOA
      Customer Service Center Department Directory
    • Job Opportunities
      Job Center Careers at SOA
    • Legal Center

2023 ImpACT Conference- VIRTUAL - Session 4C: Explainability of AI Models and their Application in Credit Risk 11.08.23 Recording

On-Demand

Online

Subscription Info

  • Event Overview

Artificial intelligence (AI) models have become increasingly popular in various industries, including finance. Such models can help lenders assess the risk of loan applicants, identify potential defaults and make better decisions about granting credit. However, the complexity of many machine-learning and, particularly, deep-learning models makes it difficult to understand how they arrive at their decisions. This lack of interpretability can be a significant problem in the legal and ethical realms, as it hinders transparency and accountability. Join us to learn interpretability techniques that are essential to address the challenges of using complex AI models in credit risk modeling. These techniques aim to provide a better understanding of how an AI model arrived at a particular decision or prediction. Techniques include surrogate models, which aim to provide a simpler model that approximates the behavior of the original model, and decision trees, which show the decision-making process in a more transparent way. However, applying interpretability techniques to AI models can be a challenging task. For example, some techniques can reduce the performance of the model, which can be unacceptable in applications where high accuracy is critical. Additionally, some techniques may only be effective for certain types of models or datasets, which limits their applicability.Despite these challenges, interpretability techniques are becoming increasingly important in the field of credit risk modeling. Financial regulators have recognized the importance of interpretability, and are starting to require financial institutions to use models that can be explained and validated. In addition, interpretability techniques can be used to improve the performance of credit risk models. By understanding how a model makes decisions, it is possible to identify areas where the model can be improved or where additional data may be needed. TRACK: Technology/Model Development/ Artificial Intelligence/Machine Learning;Predictive Modeling

    Recording Details

  • Competency:
    • Data Science, Analysis & Predictive Analytics
  • Credit:

    1.20 SOA CPD

    1.00 CIA

  • Note:
    This product is now part of the recording library subscription.
  • Customer Service Center
  • Department Directory
  • Newsroom
  • Job Center
  • Careers at SOA
  • Sponsorship Opportunities
  • Be An Actuary
  • Actuarial Directory
  • Actuarial Foundation
  • The Actuary Magazine
Go to Homepage
© 2025 Society of Actuaries
Linkedin
X
Facebook
Instagram
YouTube
WeChat
Weibo
Terms of Use
Privacy Policy
Cookie Policy
Transparency in Coverage