Actuarial Interpretation of Model Output
On August 8th at 12 PM ET, Thomas Holmes, Chief Actuary for the US at Akur8, will present our next Akur8 Academy webinar, "Actuarial Interpretation of Model Output." As actuaries adopt increasingly complex data science techniques, we must always remember that every model corresponds to specific business problems and solutions. Therefore, the best model depends not only on statistical support, but also on business needs and goals. Often, the model with the best test statistics is not the best model for the business and the ability to translate data science results to business outcomes is an essential skill for actuaries. In this presentation, we will share the results of modeling exercises and ask the audience to translate these charts into clear business outcomes. We will also share examples of where the output of a model should be overridden due to actuarial considerations and ask the audience for suggestions. Additionally, we will share good and bad questions to ask about a model.
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Learn more about the speakers
Tom Holmes is Akur8’s Chief Actuary for the US region and is a co-author of the upcoming publication Penalized Regression and Lasso Credibility. He has experience modeling personal and commercial insurance, and volunteers with the CAS on predictive modeling topics. He is a frequent presenter at CAS events and Akur8 webinars, and performs industry outreach to share actuarial modeling methodologies and best practices. Tom is a Fellow of the CAS and holds music degrees from the University of Michigan and Ohio University.
