Goal of the workshop is the give a practical example of an end-to-end data analytics project implementation.
Many workshops and presentations on analytics are either theoretical or use data from other industries to try and illustrate the benefits in a life insurance context. This leaves the audience often feeling like saying “so what”
This presentation aims to show the actual pricing of a GLA book using life insurance data. The presentation will show each step from importing and cleaning, model building and testing, to visualisation, interpreting and implementation. By doing this, the presenters aim to show the benefit of using analytics over traditional A/E methods. Instead of a detailed coding deep-dive, a high-level show and tell will be followed, in order to cover each of the main steps in the process.
The presenters will also discuss the strategic steps a life company can follow to turn their actuarial function into a team that can focus on analytics that delivers data-driven insights. This aims to give chief actuaries; CFOs and data officers the comfort of knowing that data analytics does not require a redesign of the data and actuarial teams, but can grow organically out of existing resources.