MSc in Actuarial Science and Insurance Analytics (MSc ASI) Sample Class

Predictive analytics are a staple of contemporary business decision making. This lecture introduces how actuaries make use of such techniques in their everyday functions. We introduce the contexts and business goals which demand the use of predictive analytics by actuaries. We then introduce the predictive models which actuaries use, with a focus on traditional regression techniques and generalised linear models which are a mainstay of the actuarial predictive analytics toolkit. Advanced techniques from machine learning have also become more common, and will be touched on as time permits.