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Article

New Academy Issue Brief Provides Actuarial and Regulatory Considerations on Use of Data, Predictive Modeling, and Risk Classification in Insurance Practices

WASHINGTON—A new issue brief from the American Academy of Actuaries Data Science and Analytics Committee (DSAC) and Property/Casualty Racial Equity Task Force provides a clear and thorough…
Date Published: 07/06/2022
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Article

Academy Paper Examines Emerging Issues Brought About by the Increased Use of Big Data and Algorithms in Insurance

WASHINGTON—A new public policy paper published by the American Academy Actuaries, Big Data and Algorithms in Actuarial Modeling and Consumer Impacts, provides a framework for consumers, regulators,…
Date Published: 11/05/2021
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Article

Actuaries’ Use of Big Data Grows With New Applications to Insurance and Pension Risks

WASHINGTON—Big Data techniques and methods are increasingly being used to more effectively assess risks within insurance and pension and retirement systems, providing actuaries with powerful…
Date Published: 06/05/2018
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Academy in the News

NAIC’s Big Data Task Force Sets Charges for 2017

JD Supra Business Advisor
Date Published: 01/05/2017
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Related Resources

Comment / Letter

DSAC Comments to IAIS on a Public Consultation on AI

The Data Science and Analytics Committee (DSAC) submitted comments to the International Association of Insurance Supervisors (IAIS) on IAIS’ public consultation draft application paper on the…
Date Published: 02/27/2025
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Issue Brief

Defining Big Data

The Data Science and Analytics Committee released an issue paper, Defining Big Data. The paper is intended to build a shared language and concepts of big data and associated themes for the actuarial…
Date Published: 09/25/2024
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ASOP NO. 56

Modeling

[glossary_exclude] STANDARD OF PRACTICE TRANSMITTAL MEMORANDUM TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons…
Date Published: 09/23/2024
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ASOP NO. 41

Actuarial Communications

[glossary_exclude] STANDARD OF PRACTICE TRANSMITTAL MEMORANDUM December 2010 TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other…
Date Published: 09/23/2024
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ASOP NO. 25

Credibility Procedures

[glossary_exclude] TRANSMITTAL MEMORANDUM December 2013 TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in…
Date Published: 09/23/2024
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ASOP NO. 23

Data Quality

[glossary_exclude] TRANSMITTAL MEMORANDUM December 2016 TO: Members of Actuarial Organizations Governed by the Standards of Practice of the Actuarial Standards Board and Other Persons Interested in…
Date Published: 09/23/2024
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ASOP NO. 12

Risk Classification (for All Practice Areas)

[glossary_exclude] TRANSMITTAL MEMORANDUM December 2005 TO: [glossary_exclude] Members of the American Academy of Actuaries and Other Persons Interested in[glossary_exclude] Risk Classification…
Date Published: 09/23/2024
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Issue Brief

DSAC Issue Brief Examines Data Bias

The Data Science and Analytics Committee (DSAC) released an issue brief, An Actuarial View of Data Bias: Definitions, Impacts and Considerations. The issue brief—the first in a new DSAC series…
Date Published: 07/18/2023
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Issue Brief

An Actuarial View of Data Bias: Definitions, Impacts and Considerations

This issue brief examines the key types of data bias that actuaries may encounter and focuses on the kinds of biases found in modeling data and the implications for algorithmic outcomes. 
Date Published: 07/01/2023
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Comment / Letter

Life Practice Council and Casualty Practice Council Submit a Joint Comment Letter to the NAIC’s Big Data and Artificial Intelligence (H) Working Group

The Life Practice Council and the Casualty Practice Council submitted a joint comment letter to the National Association of Insurance Commissioner’s Big Data and Artificial Intelligence (H) Working…
Date Published: 02/13/2023
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