Data Analytics

Gender pay gap for actuaries: an update

Jennifer Lang looks at the latest stats on average pay for actuarial men and women and finds that, if female actuaries are discriminated against (which there's no proof of), it's not as bad as it is for accountants!

How artificial intelligence is changing retail value perception

Actuary with Woolworths Group, Jo Chidwala outlines the most popular types of AI, what they can do for retail and why those who invest in cognitive insights will reap long term rewards.

Becoming an Analytics-Based Insurer: A Road Map – Part 1

Stephen Lowe, former managing director at Willis Towers Watson and past President of the Casualty Actuarial Society, shares his views on the benefits of combining actuarial knowledge and data science. This is part one of a two-part series, focusing on the requisite skills and technological advances driving current data science innovations.

Comments:1

A not-so-actuarial look at the marriage equality ballot

David Kwak from Actuarial Edge looks at the demographic data of the marriage equality ballot to find some interesting facts on participation rates, proportion of yes votes and differences in votes across states and territories. 

Automatic machine learning - Zeming's data analytics ‘meetup’ files

It's the year 2025. As an actuary for a major software vendor, you've just been asked by your boss to figure out why the algorithm liability claims are deteriorating.

Data Analytics powers NRL plays, health reform and research - 2017 Data Analytics Seminar report

From determining game-changing NRL plays, to detecting fraud in Australia's $1 billion health care system, data analytics is a powerful force. At the recent Actuaries Institute Data Analytics Seminar, attendees were challenged to think “beyond the data science bubble” and find ways to harness their existing skills in the exciting world of analytics. Michael Storozhev reports.

Introducing meetups - Zeming's data analytics ‘meetup’ files -

Six months ago, Zeming Yu stumbled upon data analytics ‘meetups’ and he’s never looked back. Here, he outlines the wealth of learning (and pizza) he’s gained since making the discovery.

Likes:2

Normal Deviance - A Tale of two CT(O)s

A big data parable, wherein Alice learns steady steps and Bob aims big.

Bringing Analytics to Life

Basem Morris reports on the intersection of predictive analytics and behavioural science to reveal some fascinating insights.

Stats, nothing but stats

Jennifer Lang, author of the blog Actuarial Eye, writes about her recent experiments with the 'Census table builder' - a data tool that includes a map visualisation function. 

Comments:1

Actuary breaks new ground in public health research

Actuary Jananie William explains how she traversed traditional actuarial fields and came to work in public policy. Using actuarial techniques and some amazing data, she provided a detailed analysis of birth-related public health system costs and their drivers – the first ever study of its kind.

Likes:1

Normal Deviance - Why you should totally include data science in your next job search

‘Data scientist’ clearly overlaps with pre-existing jobs like statisticians, business analysts and even actuaries, but as our resident Data columnist Hugh Miller reports, it also carries its own flavour. The proof is in the data.

Financial Advice Innovation – Considerations for Australian players

Future financial advice models that marry the best of technology and human intervention require considered thought and a disciplined approach to development. Here, Angat Sandhu outlines the experience and varied success of robo-advice and face-to-face propositions, and presents some key considerations for players in the Australian market.

Young Actuaries Program (Melbourne) – Data Analytics

After-work on a cold Thursday evening in Melbourne, the Young Actuaries Program (“YAP”) membership gathered for the latest instalment of the ‘Evening Speaker Series’ – Data Analytics. James Morris reports. 

Under the Spotlight - Dr David Lau

Professor at Bond University's Actuarial Science program Dr David Lau, who has experience working for some of the world's leading insurance and regulatory businesses, goes Under the Spotlight to reveal his undying passion for mathematics and some quirky hobbies.

Will there still be actuaries in the year 2049?

You asked, and we listened! In this inaugural 'Ask an Actuary' column (since Bruce and Gae went underground) our anonymous actuary and resident mystery writer answers the burning question: will there still be actuaries in 2049?

Normal Deviance - Burying the GLM

My previous column praised the virtues of the generalised linear model. This month we dismember it and look to more modern approaches to fill the void.

Normal Deviance - In praise of the GLM

In this column, we celebrate the success of the generalised linear model and explore why they are so popular. In its companion column, we’ll look at the model’s limitations and ask whether there are better alternatives.

Ensuring the financial sustainability of the NDIS

Sarah Johnson, Scheme Actuary for the NDIS and the 2016 Actuary of the Year, explains what defines financial sustainability in the NDIS insurance model and the role of actuaries in maintaining it.

Likes:1

InsurTech – what, where, why?

Angat Sandhu outlines the major sectors and geographies 'Insurtechs' are playing in, revealing their potential to impact insurance customer experience, distribution and data analytics, as well as partner with and disrupt the industry.

Also this month