AI Tools for Actuaries (work in progress)

Mary Pat Campbell

Link: https://aitools4actuaries.com/

SSRN link: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5162304

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About This Project

This project aims to empower the actuarial profession with modern machine learning and AI tools. We provide comprehensive teaching materials that consist of lecture notes (technical document) building the theoretical foundation of this initiative. Each chapter of these lecture notes is supported by notebooks and slides which give teaching material, practical guidance and applied examples. Moreover, hands-on exercises in both R and Python are provided in additional notebooks.

Author(s): Mario V. Wüthrich, Ronald Richman, Benjamin Avanzi, Mathias Lindholm, Michael Mayer, Jürg Schelldorfer, Salvatore Scognamiglio

Accessed: 24 Apr 2025

Publication Site: AI Tools for Actuaries 

Fecal Immunochemical Test Screening and Risk of Colorectal Cancer Death

Mary Pat Campbell

Link: https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2821348

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Key Points

Question  What is the colorectal cancer mortality benefit of screening with fecal immunochemical tests (FITs)?

Findings  In this nested case control study of 10 711 individuals, completing a FIT to screen for colorectal cancer was associated with a reduction in risk of dying from colorectal cancer of approximately 33% overall, and there was a 42% lower risk for left colon and rectum cancers. FIT screening was also associated with lower risk of colorectal cancer death among non-Hispanic Asian, non-Hispanic Black, and non-Hispanic White people.

Meaning  This study provides US community-based evidence that suggests FIT screening lowers the risk of dying from colorectal cancer and supports the strategy of population-based screening using FIT.

Author(s): Chyke A. Doubeni, MD, MPH1,2; Douglas A. Corley, MD, PhD3; Christopher D. Jensen, PhD3; et al

Publication Date: July 19, 2024

Publication Site: JAMA Netw Open. 

2024;7(7):e2423671.

doi:10.1001/jamanetworkopen.2024.23671

Modeling the Casualty Exposures in Epidemics

Mary Pat Campbell

Link: https://ar.casact.org/modeling-the-casualty-exposures-in-epidemics/

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A casualty actuary might be forgiven for thinking that illness and disease are what those “other” actuaries worry about.

Though risk of illness is usually considered the province of the life-health actuary, a session at the 2017 CAS Annual Meeting in Anaheim, California, showed how epidemics can affect property-casualty risks. The session also described how to approach modeling those exposures.

….

Milliman actuary Cody Webb, FCAS, began by demonstrating how big the insurance gap is, particularly in developing nations. He explained that the spectrum of losses ranges from minuscule (loss of a single strand of hair) to catastrophic (sudden, instant death) and can affect a single person or every entity in the universe across eons. But the insurable losses share some traits, Webb said, including:

  • a large number of similar exposures.
  • a definite loss, driven by some sort of accident.
  • the ability to create an affordable premium to reimburse after such a loss.
  • the ability to accurately quantify the amount of loss sustained. This is the most important shared trait.

In showing a chart of property-casualty insurance as a percentage of GDP — with the wealthier countries better insured than others — Webb noted that insurance companies need to “quantify and develop products that meet all criteria of insurability.” (See chart below.)

Author(s): James P. Lynch

Publication Date: 16 Jan 2018

Publication Site: Actuarial Review, Casualty Actuarial Society