Description: With the unprecedented proliferation in the size and complexity of data over the past decade, actuaries have invested considerable time and energy in the development of new skills and expertise in order to be able to understand and use “big data” to its fullest potential in the development of actuarial work product.

Description: In this session, we will explore the opportunities and challenges of leveraging AI tools to support valuation actuaries in their work. We will begin by introducing the concept of large language models (LLMs), discussing their capabilities, limitations, and potential errors. We will then delve into case studies that demonstrate how LLMs can be effectively utilized to reference actuarial documents. The session will also address key considerations when developing AI tools to mitigate errors, enhance safety and security, and improve overall efficiency. The case studies will cover fine-tuning and information retrieval techniques such as retrieval augmented generation (RAG). Our goal is to provide attendees with a foundational understanding of the nature of LLMs and offer practical insights and ideas for actuaries to build their own processes and tools that ensure accountability, safety, and efficiency.

Description: We will first present a few very practical use cases of GenAI tools that could help the daily life of an actuary. Then we will demonstrate the power of these tools in coding (e.g. Cursor, but also ChatGPT) - improv style. Taking a suggestion from the audience - a publicly available dataset - we will demonstrate how you can ask questions to a large language model, which will write code and provide the insight you are looking for.

Description: The SOA’s Artificial Intelligence Working Group explored the role of AI in actuarial practice, focusing on risk management, regulatory compliance, and ethical considerations. The discussion highlighted the importance of the NIST AI Risk Management Framework and Generative AI Profile in ensuring responsible AI development and deployment in insurance and healthcare.

Description: This session will discuss basic and advanced hedge modeling concepts. It will explain common hedge strategies used to support guarantees and options embedded within life and annuity products and the materiality of these products within the US. Attendees will learn how Machine Learning acts to reduce the computer processing needed to simulate the dynamic hedging of product liabilities projected in the future across many stochastic scenarios. Actuaries working in consulting, software development, and a large life insurance company will provide a wide range of hedging viewpoints ranging from a broad industry perspective to a hedging practitioner. Attendees will obtain a comprehensive understanding of a novel ML approach to modeling dynamic hedges and the hedge optimization opportunity it presents.

Description: This session will discuss essential theories and practical applications of deep learning for actuaries. Participants will gain insights on leveraging these cutting-edge techniques to enhance actuarial models and drive predictive accuracy.

Description: This session aims to equip life insurance actuaries with the insights and tools needed to prepare for and navigate the sweeping changes that generative AI is poised to bring. Attendees will gain deeper awareness and understanding of how Gen AI will impact more broadly across their organization. They will be prompted to think more broadly on the subject rather than specific use cases, to consider wider operational and human impacts of Gen AI. This will include both positive impacts, to be capitalized, and negative impacts, to be understood and mitigated. The session will also afford the opportunity for the audience to share views and join in the discussion through polling and questions, and will therefore provide attendees with an opportunity to hear how others are considering these challenges.

Description: Join our expert panel for a deep dive into the evolving role of actuaries as technology and innovation reshape the insurance industry. This session will cover the impact of insurtech startups and emerging business models, as well as the competencies actuaries need to thrive in this changing environment. You'll gain insights from industry leaders, futurists, and experienced actuaries who have navigated significant changes in their careers. Learning Outcomes: Understand the key trends in insurtech and other emerging technologies affecting the actuarial profession. Identify the skills and knowledge actuaries need to adapt to the evolving landscape. Explore potential career paths and opportunities for actuaries in insurtech and other innovative areas. Learn strategies for staying resilient and relevant in a rapidly changing industry.

Description: In this session, actuaries and data scientists will describe how the Cleveland Clinic has utilized large language models to support caregivers with difficult end of life conversations with patients and their loved ones. While artificial intelligence is often prefaced with words of caution, it can also be harnessed for good.

Description: Join a dynamic two-part panel, where we'll delve into organizational and personal innovation strategies, tactics, and success stories. Begin by uncovering how venture studios, payor/employer partnerships, and startup business units can propel your company's innovative edge.