Artificial Intelligence and Actuarial Science: Applications and Case Studies from Finance and Insurance

This book aims to explore how to automate, innovate, design, and deploy emerging technologies in actuarial work transformations for the insurance and finance sector. It examines the role of artificial intelligence with process automation in daily monitoring of solvency, governance, compliance, data processes, etc. It also explores the usage of machine learning, telematics system, AI-enabled claim processing software, Big Data and Algorithms, Explainable AI, and AI-enabled risk management tools in various actuarial processes.

This book:

Presents case studies and best practices with real-world examples of successful and unsuccessful actuarial work transformation initiatives and transformation with emerging technologies

Offers deployment solutions for different applications of AI in actuarial work

Discusses how organizations can effectively incorporate AI into their current practices of actuarial work

Covers diverse emerging technologies, practices, and processes of actuaries from around the globe

Elaborates upon a framework for comprehending how big data and AI developments may affect insurance offers and their supervision

Explains how insurance companies may review and modify their current Risk Management Framework (RMF) to take into account some of the significant differences while implementing AI use cases

This reference book is for scholars, researchers and professionals interested in Artificial Intelligence and Actuarial Science.