The insurance industry is changing – it is particularly affected by (and yet can particularly benefit from) digitalization and automatization. Artificial intelligence makes it possible to improve and accelerate many processes in risk management, marketing and claim settlement. This workshop will provide insight into algorithms for a better prediction and reservation in life and non-life actuarial mathematics.
The course starts with „Generalized Linear Models“ (GLMs), but then introduces more flexible regression models such as „Regression Trees“, „Random Forests“ and „Gradient Boosting“.
In the second half of the course, neural networks and deep learning algorithms are discussed. The aim is to present a kind of „toolbox“ of algorithms, together with various applications in insurance. Exercises and application examples are presented in the programming language «R».
The course is based on the classic: G. James, D. Witten, T. Hastie and R. Tibshirani: An Introduction to Statistical Learning; with Applications in R (2nd edition, 2021) as well as various books in the field of «Actuarial Data Science».