This video, presented by Igor Nikitin, demonstrates how actuaries can apply AI to Pension Risk Transfer (PRT) pricing by using it as an anomaly-detection assistant. Since each RFQ is unique and often contains data issues, AI can act as a reviewer to flag anomalies that actuaries might miss, helping avoid costly reruns of the pricing process. The script outlines how to collaborate with this model through structured prompts, responsible AI adoption, and developing tailored models to actuaries’ needs while ensuring privacy, compliance, and human oversight. Ultimately, AI is positioned not as a decision-maker but as a practical, time-saving tool to improve accuracy and efficiency in PRT pricing.
Contributors: Igor Nikitin, ASA, MAAA; Tom Callahan, FSA, MAAA ; Jon Forster, ASA, MAAA