With the increasing use of AI within both the private and public sectors, regulations and laws to address the appropriate collection and use of data are being proposed and passed within Canada and across the world. Beyond the expected regulatory burden that will face companies using AI, there is an ethical component as well. Insurers have historically built their business on the idea of “fair...
Since 2016, the CIA and its partners have released data from the North American Actuaries Climate Index (ACI) every quarter. The most recent release continues the tradition. But what can you do with this data? What does it mean? We caught up with members of the CIA’s Climate Change and Sustainability Committee (CCSC) to learn more about the ACI and help find out how you can make the most of it.
Data science and actuarial science are both multidisciplinary in nature; they extract insights from data and require strong understanding of the underlying business processes and domain knowledge to be successful at accomplishing the task. A deeper understanding of data science can allow actuaries to leverage data science results in their work and find more applications in emerging practice areas.
A 2020 survey of CIA members shows that just under one third of respondents account for climate change risks in their actuarial work, a proportion similar to that indicated in a 2019 survey. These results point to a continued need in the profession for additional information and guidance on the subject.