Machine Learning (ML) methods are also becoming more and more important in the insurance industry. But ML is a broad field or even a science in its own right. It is therefore not easy for those interested to know where to start. For this web session series, we have selected three interesting and important facets to shed more light on.

The second web session deals with “Artificial Neural Networks Basics” (Dr Axel Kaiser & Dr Stefan Nörtemann). We would like to give an elementary introduction to the idea, the mathematics and the implementation of artificial neural networks. In addition to the theoretical foundations, we implement artificial neural networks in R and Python as examples and apply them to concrete problems.