Actuarial science for non-actuaries: What the models can and can’t tell us

In this engaging IIL reinsurance fireside chat, Amrit Santhirasenan joins Ken Norgrove to explore the evolving role of actuarial science in today's insurance market. Together, they will discuss how actuarial models support underwriting and risk management, where their boundaries lie, and how developments in data science and AI are redefining the profession.

In an industry increasingly shaped by data, analytics and artificial intelligence, understanding what models can and cannot tell us has never been more important. While actuarial science remains at the heart of insurance decision-making, the rapid rise of data science, machine learning and new forms of risk modelling is changing both the tools available to insurers and the expectations placed upon them.

In this session, Armit and Ken discuss the opportunities and limitations of actuarial models, the increasing overlap between actuarial and data science, the challenges of modelling emerging and uncertain risks, and the impact that AI is likely to have on the profession. This session will also provide practical insights for brokers, underwriters and insurance professionals seeking to make better-informed decisions while balancing modelled outputs with professional judgement.

Learning objectives:  

• Understand the difference between actuarial science and data science, how the two disciplines are evolving, and where they increasingly overlap

• Explore what actuarial modelling can and cannot tell brokers and underwriters, including the opportunities, limitations and common misconceptions surrounding models

• Review the major trends shaping the actuarial profession and their implications for insurance, particularly the growing role of AI, new modelling techniques and emerging risks

Chair: Ken Norgrove FCII, Chief Executive Officer, Intact Insurance UK & International, President of the Insurance Institute of London 

Registration & Security

CPD events are open to CII and PFS members
Registration closes at 12pm two working days before the event date
For events held in The Old Library, Lloyd's pass holders may also attend and do not need to register
Original Photo ID (Driving Licence, Passport, Work ID with company logo and full name) is required to gain entry to all venues

Conditions:

• Email confirmations and original photo ID must be produced to security staff at the lecture venue
• Attendance confirmations are non-transferable to any other person or lecture
• All venues have limited capacity and registration and/or a Lloyd's pass does not guarantee admission

Please let us know what we can do to make our events fully accessible to you.

Contact:
Please contact Patricia Pedraza (07463 028327) with any queries regarding the CPD events programme.

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