Support from the Society
One of the strategic objectives of the Society is to support members who wish to develop their skills in non-traditional areas of work such as data analytics.
Continuing Professional Development for members working in Wider Fields
A Member working in wider fields can elect to be in “Category 2C” and thereby qualify for reduced Continuing Professional Development (CPD) requirements if they satisfy the definition of a ‘wider fields member’. In ASP PA-1 Continuing Professional Development a ‘wider fields member’ is defined as shown below.
‘wider fields members’ means members of the Society who do not:
(a) work in the financial services sector, or
(b) provide advice or services in relation to pension funds, or
(c) provide actuarial education.
For full details of Category 2C please see the CPD section of the website.
To enable members to fulfill their CPD requirements, the Society is actively organising events and talks in non-core actuarial areas mainly via the Wider Fields Committee and the Data Analytics and Aviation Finance Subcommittees. This way interested members can benefit from a variety of data analytics sessions and support materials not to mention opportunities for networking and sharing experiences.
Subscription rates for members working in Wider Fields
Reduced subscription rates are available to Fellows/Associates who do not work in the financial services sector and do not provide advice or services in relation to pension funds. In addition for the 2018/’19 subscription year, the Wider Fields subscription rate is available to members working in the field of Aviation Finance. If you wish to apply for a reduced subscription rate please email email@example.com.
Benefits for employers
The benefits to members, outlined here, who wish to develop their skills in data science extends also to their employers who gain from the newly honed skills.
The Data Analytics Subcommittee is running a series of training sessions to help actuaries familiarise themselves with the tools and theory behind data analytics.
Some examples of the training sessions and other related events organised to date on the statistical program language “R” and its applications are listed below and on the website1:
- R for actuaries - What, why and where? – Pedro Ecija Serrano, FSAI and Kiaran Walsh, FSAI (26 October 2017)
- R for actuaries - Graphing better with R – Conor Byrne, FSAI and Sean Cahill, BAFS (27 November 2017)
Further training sessions are planned including sessions on Python and other applications.
Past Society events in the field of data analytics
We provide links below to events organised by the Society related to data analytics:
Disrupt or Be Disrupted - Owen Lewis & Jean Rea
The fast-moving world of Insurance Telematics –Brian Foley and Andy Goldby
Digital Finance –Blockchain beyond the hype - Paula Butler
- Role of data in transforming PMI analytics – Neha Taneja & Natasha Singhal (14 December 2017)
- Sessions on the 2017 Annual Convention of the Society (8 June 2017):
The Duckworth-Lewis method – Conor Byrne, FSAI
- Predictive Modelling for Costumer Targeting – Pedro Ecija Serrano, FSAI (23 February 2017)
- Who is the driver? - Applying data analytics to actuarial and insurance challenges? - Gabor Stikkel, Senior researcher at Eriksson, Stockholm (25 June 2016)
- Sessions on the 2016 Annual Convention of the Society (2 June 2016):
Data Analytics Tools & Practical Applications, Conor Byrne and Peter Maher
Data Science – a new frontier for actuaries, Michael Crawford
- Review of the Titanic competition - Winning teams of Zurich and Deloitte, - Wider Fields Committee of the Society (15 February 2016)
- Data Analytics Workshop for Society Competition (Survivors of the Titanic) - Conor Byrne (2 September 2015)
- For a full list of events please see the website.
1See https://web.actuaries.ie/events/past and filter by “Data Analytics”.