Artificial Intelligence (AI) Agents & Actuarial Enablement

Predicting and understanding solvency figures poses major challenges for life insurers. Internal risk models provide realistic representations, but they remain company-internal and make model understanding difficult. This makes it hard to compare new machine-learning methods for prediction and explainability objectively and under realistic scenarios. We developed openIRM, an open-source internal risk model for an artificial life insurer. It combines an economic scenario generator based on the G2++ interest-rate model with a cash-flow projection model. The model supports both outer real-world simulations and inner simulations for determining basic own funds. It has also been calibrated for all trading days from September 2016 to December 2023 and allows the use of direct and indirect valuation methods, which have been shown to produce consistent results. This talk gives a short introduction to risk modelling for a life insurer under Solvency II, outlines how the openIRM model works, and demonstrates its practical use through a concrete example. Speaker: Mark-Oliver Wolf Moderator: Ernst Visser

This webinar introduced the IAA AI Task Force and provide an overview of the “Case Studies & Tools” workstream and its objectives.

The session includes a walkthrough of the Task Force's GitHub account and repositories covering how they are structured, how they function, and how you can explore and contribute to them. A curated collection of GitHub case studies is then presented, with a detailed walkthrough of one fully developed case study illustrating how AI can be applied to a real actuarial problem.

The webinar also touches on the GitHub tools repository showcasing the AI tools through short presentation videos. a more detailed walkthrough of developed case study to illustrate how AI can be applied to a practical actuarial problem.

With the advancement of technology, insurance companies are increasingly adopting usage-based insurance (UBI) supported by vehicle telematics. Vehicle telematics refers to data collected from in-vehicle sensors or smartphone applications during driving, such as speed, acceleration, braking, and steering. It provides a rich, high-frequency record of how a vehicle is driven, offering insights into driving habits, behaviour, safety, and potential risk. However, many current approaches rely on aggregated metrics and do not fully capture the detailed time-series patterns in telematics data. This presentation introduces a flexible framework based on a continuous-time hidden Markov model (CTHMM) to analyze trip-level telematics data directly. Our approach avoids predefined thresholds for harsh events or assumptions about accident probabilities, and uses only telematics data, requiring no traditional demographic covariates. Using an unsupervised anomaly detection technique, we identify deviations from normal driving patterns linked to higher accident risk. The framework is tested on both controlled and real-world datasets, and the results reveal clear behavioural differences between drivers with and without claims, offering practical insights for insurance, accident analysis, and prevention.

Explore how data and AI regulations are evolving across the globe in this insightful webinar hosted by the IAA Data Analytics Virtual Forum (DAVF).

This session brings together perspectives from the EU, UK, Asia, and North America, highlighting similarities, differences, and emerging trends in areas such as responsible AI, data protection, and sector-specific oversight.

Speakers: Alex Waite, Amanda Hug, Esko Kivisaari and Yosuke Fujisawa
Moderator: Kim Steiner

In 2024, the International Actuarial Association established a dedicated Task Force to guide the actuarial profession's response to Artificial Intelligence. After two years of work spanning governance, education, professionalism, and the evolving role of the actuary, the Task Force is proud to present three foundational papers on the responsible use of AI in this webinar.

Speaker: Bernice Lim, Chadwick Cheung, Dorothy Andrews
Moderator: Peter Withey

Unlock how Artificial Intelligence is reshaping pensions and social security work. Join us for an insightful session featuring leading actuarial AI expert Ronald Richman, who will share practical applications of AI in longevity modelling, experience analysis, and actuarial workflow automation. This webinar will highlight real-world use insights, emerging opportunities, and what actuaries doing work in pensions and social security need to know to stay ahead in an AI-driven future.

Be sure to join us for what promises to be an informative and engaging discussion.

Speaker: Ronald Richman
Moderator: John Anderson