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EAA Newsletter
Stay Updated with our Latest Web Sessions |
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Welcome to
the latest edition of our newsletter! In this issue, we're thrilled
to unveil our recently released EAA trainings, a comprehensive
collection tailored for actuaries:
- Valuation of Hybrid Financial and Actuarial Risks,
- Open Source Tools R and Python: Extending the Tool of the
Actuary,
- LLM Principles and Case Studies for Insurance,
- System Migrations of Life Insurance Contracts: DON'T JUST
MIGRATE,
- Socio-Economic Mortality Curves,
- Hands-on Adaptive Learning of GLMs for Risk Modelling in R
and
- Cyber Risk and Insurance.
We invite you to seize the opportunity to enrich your knowledge by
participating in these upcoming web sessions ans seminars. Be sure
to keep an eye on our continually expanding lineup for 2024.
Dive into the content, and stay informed with EAA! |
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Web Session 'Valuation of Hybrid Financial and
Actuarial Risks'
on 27 June 2024 |
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The objective of this web session is to present
various recent researches developed in the actuarial literature, in
order to valuate complex cash flows mixing financial and actuarial
risks. After an introduction presenting the main challenges, we
develop several approaches recently proposed. All the techniques
will be applied to a typical participating life product and
numerical illustrations will be given.
further details |
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Seminar 'Open Source Tools R and Python: Extending the
Tool of the Actuary' in Prague
on 30 September/1 October 2024 |
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Organised by the EAA - European Actuarial Academy GmbH
in cooperation with Česká společnost aktuárů.
The goal of this two-day training is to introduce the participants
to both open source ecosystems and to get a good understanding of
both languages. However, since both ecosystems are way too vast to
be covered in merely two days, the participants will be asked to go
through the basics of both languages themselves, prior to the
seminar. During the first three hours of the seminar, these basics
which will be shortly revised, but at a higher pace. In this way,
the presenters can focus more on examples and on providing more
hands-on experience to the participants. The course material,
containing the basics of both languages, will be provided by the
organizers several weeks before the beginning of the seminar, such
that the participants will have plenty of time to go through the
material at her/his ease.
A jump start on how to truly use these languages in practice will
be provided to the participants, by focusing on solutions for
problems that they will surely regularly encounter in their
day-to-day job, by handing over lots of links to online resources
and a very rich course material and with a strong focus on hands-on
experience and exercises.
further details |
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Web Session 'LLM Principles and Case Studies for
Insurance'
on 24/25 October 2024 |
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This workshop is designed to provide a comprehensive
introduction and hands-on experience with Large Language Models
(LLMs), covering their theoretical underpinnings, practical
applications, and the broader ecosystem in which they
operate.
Participants will embark on a journey from understanding the
basics of what LLMs are, including an overview, specifications,
evaluations, and their pros and cons, to mastering how to
effectively utilize them through various techniques such as
prompting, and fine-tuning strategies.
A dedicated part will focus on strategic implementation, featuring
case studies and real-world challenges to equip attendees with the
knowledge to initiate their own projects or integrate LLMs into
existing workflows.
By the end of the workshop, participants will have a solid
foundation in the operational and strategic aspects of LLMs,
enabling them to harness these powerful tools for a wide range of
applications in insurance and risk management.
further
details |
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Web Session 'System Migrations of Life Insurance
Contracts: DON'T JUST MIGRATE'
on 4 November 2024 |
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During the seminar, we will illustrate a migration of
a very diverse classic life insurance portfolio (with guaranteed
life and/or death performance in various combinations). On the one
hand, we will go over the different steps (actuarial and
non-actuarial- in a migration project and on the other hand, we
will demonstrate how this portfolio can a) be migrated to a modern
generic cash-flow-driven management platform (universal life + unit
linked), and b) at the same time the life insurance policies can
also be renewed. During the seminar participants will understand
that the underlying renewal is fundamental to make the migration a
real success: both for the insurer and for the policyholders and
beneficiaries.
Although the aforementioned will be illustrated from Belgian
practice, we believe that this innovative migration strategy is
useful, relevant and innovative in many other countries.
further details |
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Web Session 'Socio-Economic Mortality Curves'
on 13 November 2024 |
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Mortality curves are a critical ingredient for the
valuation of any longevity-related product (for example, pensions,
life insurance, reverse mortgages). Typically, several statistical
agencies provide mortality curves differentiated on gender per
country. However, it has been documented that people's mortality
prospects differ beyond their differences in gender. Income,
education, job type, etc might all have an impact on mortality. In
this online training, we present 1) how such distinctive
characteristics can be considered in a mortality model, 2)
empirical results (based on Belgian data) and 3) the implications
for retirement products valuations. Though the empirical results
are based on Belgian data, many results are qualitatively in line
with other European countries.
The goal of the session is to clarify the impact of various
socio-economic factors on mortality and its impact on the valuation
and risk-management of retirement products. At the end of the
session people will have a good understanding of
- Impact of socio-economic status on mortality rates
- Impact of differences in mortality curves on product
valuations
- Adjusting mortality models to take socio-economic factors into
account.
further details |
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Web Session 'Hands-on Adaptive Learning of GLMs for
Risk Modelling in R'
on 14/15 November 2024 |
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During the web session, we will first explore the
theoretical foundations of both the bias-variance trade-off in
predictive modelling and general GLM regularisation. We will then
study the explicit design of the algorithm. The remainder will be
hands-on as we provide extensive code that implements the algorithm
in the statistical programming language R. We will discuss and run
the code using a realistic case study in actuarial claims frequency
modelling. You will learn how to use the programme and apply the
algorithm to non-life claims data for pricing. Further focus will
be on the visualisation of the results, especially on the insights
gained from the learned meta-results of the algorithm, e.g., the
implicit way how we selected, prioritised and pre-processed
variables.
further
details |
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Web Session 'Cyber Risk and Insurance'
on 21/22 November 2024 |
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In this session, the impact of cyber risk on various
steps of the value chain is analysed, including (but not limited
to) modelling and risk management. The focus of this session is to
provide a hands-on approach to actuarial challenges within cyber
insurance and to highlight practical solutions. There will be
discussions and group interaction, we would appreciate participants
willing to actively contribute and therefore recommend to prepare
for the agenda items.
The purpose of this session is to give an overview of current cyber
insurance topics from a practitioner's perspective. The following
agenda items will be covered:
- Introduction
- Coverage of cyber policies
- Challenges in claims and exposure management
- Modelling approaches
- Risk management
- Conclusion and outlook
further details |
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Further
Trainings in 2024 |
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18-20 April 2024 in
Vienna
Actuarial Data Science - Basic
further details
30 Apr 2024
Climate Risk Stress Testing for Physical Risk from Natural
Hazards
further details
6 May 2024
Emerging Risks
further details
14 May 2024
EAA e-Conference on Data Science & Data Ethics
further details
15 May 2024
The Scientific Basis of Climate Change
further details
16/17 May 2024 in Lisbon
Actuarial Methods for Cyber Insurance
further
details
22 - 24 May 2024
50 Shades of Product Development Reloaded (Business Game
Included)
further details
27/28 May 2024
Understanding IFRS 17
further details
29 May 2024
Comparing IFRS17 and Solvency II
further details
... and a lot more! Explore our website for more
information. |
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