Society of Actuaries

Transcription

1 Society of Actuaries CAE Student Webcast April 25, 2018 Agenda Introduction to the SOA and its University Programs Tiffany Tatsumi SOA Academic Administrator Curriculum Changes Overview Stuart Klugman, FSA, CERA, PhD - SOA Senior Staff Fellow, Education Predictive Analytics and the Actuary Kyle Johnson, FSA, CERA Assistant Actuary, Principal Financial Group

2 The SOA and its University Programs Over 30,000 Members worldwide 44,000+ Candidates Three-fold commitment: Education, Research and the Profession 3,800+ Volunteers

3 SOA University Programs University Outreach 154 schools visited to date Hickman Scholars 5 Stipends awarded annually renewable for 4 years SOA Candidate Connect Newsletter Subscribe at: SOA.org/candidateconnect

4 SOA Candidate Connect Events Stand-alone events Events at larger SOA meetings Candidate Connect sponsors other student events Midwest Actuarial Student Conference Actuarial Student National Association (ASNA) convention & case competition Gamma Iota Sigma Upcoming Events: Baltimore, MD, May 7 Charlotte, NC, May 25 Austin, TX, June 25 SOA Resources SOA Explorer Tool

5 SOA on Facebook, Twitter, & LinkedIn ASA Curriculum Changes Update

6 ASA Pathway Key Events P and FM July and August use old syllabus, but changes are minor Instant, unofficial, results IFM, STAM July and October with new syllabus No instant results LTAM October with new Same protocol as MLC

7 Key Events SRM First administration in September, then every four months Computer-based multiple choice, no instant results PA First administration in December schedule yet to be determined Computer-based project, no instant results Predictive Analytics Exam Five hours Complete a project and write a report Use R/RStudio Exam SRM is a prerequisite Regression, time series, principal components analysis, decision trees, clustering

8 Learn more at Predictive Analytics and the Actuary KYLE JOHNSON, FSA, CERA Assistant Actuary, Principal Financial Group

9 About Me Received FSA Dec Quant. Finance Track Work at Principal Financial Group in Advanced Analytics department Actuarial focus: Mortality and Dental Pricing Text Analytics, Customer Segmentation What is Predictive Analytics (PA)? Predictive Analytics encompasses a variety of statistical techniques from predictive modelling, machine learning, and data mining that analyze current and historical facts to make predictions about future or otherwise unknown events. - Wikipedia

10 Successful PA Applications To be successful with Predictive Analytics, the practitioner must have good technical understanding and subject area expertise to produce optimal results. - Kyle Johnson (your presenter) PA in Action

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12 Movie recommendations adapted to each individual Previously viewed Mood Time of day Watching with someone else? What makes a good compelling story?

13 Traditional Rating Approach High Medium Low More Granular Rating Approach High Medium Low High 3 High 2 High 1 Medium 3 Medium 2 Medium 1 Low 3 Low 2 Low 1

14 Track fitness levels through FitBit (free) or Apple Watch (as low as $25) Accumulate points throughout year with healthy activities Earn Vitality Status each year based on points Get premium discounts and discounts on other products Ability lower annual premiums up to 15% Savings on healthy food purchases

15 Industry View WTW Big Data and PA Survey Source: Results/2016/04/infographic-how-life-insurers-are-using-or-plan-to-use-big-data-and-predictive-analytics

16 Why the PA Exam? PA is an important field that is growing in many areas Helps candidates in the job market Competencies align well within actuarial toolbox Companies are demanding people with these skills! Let s Discuss

17 Questions? Thank you!