Society of Actuariesmedia01.commpartners.com/2018/SOA/ChicagoApr2018...Introduction to the SOA and...
Transcript of Society of Actuariesmedia01.commpartners.com/2018/SOA/ChicagoApr2018...Introduction to the SOA and...
April 2018 CAE Student Webcast April 25, 2018
Society of ActuariesCAE Student Webcast
April 25, 2018
Agenda
Introduction to the SOA and its University ProgramsTiffany Tatsumi – SOA Academic Administrator
Curriculum Changes OverviewStuart Klugman, FSA, CERA, PhD - SOA Senior Staff Fellow, Education
Predictive Analytics and the ActuaryKyle Johnson, FSA, CERA – Assistant Actuary, Principal Financial Group
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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
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SOA University Programs
University Outreach154 schools visited to date
Hickman Scholars5 Stipends awarded annually
renewable for 4 years
Subscribe at:SOA.org/candidateconnect
SOA Candidate Connect Newsletter
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SOA Candidate Connect EventsStand-alone eventsEvents 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 7Charlotte, NC, May 25Austin, TX, June 25
SOA Explorer Tool
SOA Resources
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SOA on Facebook, Twitter, & LinkedIn
ASA Curriculum Changes Update
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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
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Key Events
• SRM• First administration in September, then every four
months
• Computer-based multiple choice, no instant results
• PA• First administration in December. 2019 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
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Learn more at www.soa.org/curriculumchanges
Predictive Analytics and the ActuaryKYLE JOHNSON, FSA, CERAAssistant Actuary, Principal Financial Group
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About Me
• Received FSA Dec. 2017• 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
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Successful PA Applications
“To be successful with Predictive Analytics, the practitioner must have good technical understandingand subject area expertise to produce optimal results.”
- Kyle Johnson (your presenter)
PA in Action
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April 2018 CAE Student Webcast April 25, 2018
• Movie recommendations – adapted to each individual
• Previously viewed
• Mood• Time of day
• Watching with someone else?
• What makes a good compelling story?
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Traditional Rating Approach
High
Medium
Low
More Granular Rating Approach
High
Medium
Low
High 3
Medium 1
Low 3
Medium 2Medium 3
Low 2Low 1
High 1
High 2
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• 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
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Industry View
WTW Big Data and PA Survey
Source: https://www.towerswatson.com/en-US/Insights/IC-Types/Survey-Research-Results/2016/04/infographic-how-life-insurers-are-using-or-plan-to-use-big-data-and-predictive-analytics
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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
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Questions?
Thank you!