Terms of reference
Scope: Communicate, investigate, prepare and educate for a smooth transition and integration of Data Science & Artificial Intelligence into the pillars of actuarial work.
Goals:
I. Communicate: A link between the institute and external parties.
- Regulators (e.g. EIOPA, BNB, FSMA).
- Actuarial associations / institutes (e.g. IAA, AAE).
- Universities and research institutes.
II. Investigate: How AI and DS will change the actuarial fundamentals (Pricing, Reserving, Solvency).
- Investigate (research) Mathematical Modelling using e.g. topological aspects and extension of probability measures with the aim to make justifiable use of them in actuarial work.
- Impacts of IT developments.
- Integrating 'uncertainty' in DS for explicit use by actuaries.
III. Prepare: Evolution of the role of the actuarial profession with respect to Data Science & Artificial Intelligence.
- Reflection on what an actuary is expected to do versus a data scientist.
- Right balance skillset between IT, Statistics & Business.
- Assure appropriate integration of the core actuarial pillars activities (pricing, reserving, capital) in DS & AI environment.
IV. Educate:
- Trainings program at IA|BE (data science related).
- Program of universities.
- Links to Open Sources (e.g. Python, R)
