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Community Driven Data Science in Insurance

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We introduce Kasa AI, a community driven initiative for open research and software development in insurance and actuarial analytics. Open source software has been credited for recent rapid advances in machine learning and its applications in various industries. The insurance industry, being a heavily regulated industry, has been slower to embrace open source, but recent trends indicate that actuaries are shifting their workflows to adapt to new technologies. We discuss motivations for the community, current projects, which span both life and nonlife insurance, and how tooling in the R ecosystem has enabled reproducible research at scale.

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Community Driven Data Science in Insurance

  1. 1. Community Driven Data Science in Insurance #useR2019 Kevin Kuo @kevinykuo RStudio, Kasa AI (kasa.ai)
  2. 2. Tl;dr: Get insurance folks together to do research in the open, create software and workflows, and develop educational materials.
  3. 3. Wouldn’t it be nice if... We had open source state-of-the-art individual claims forecasting models that people can easily adopt for their own data so they can do reserving and claims analytics better?
  4. 4. Wouldn’t it be nice if... We addressed the interpretability issues of ML models for ratemaking and get regulators on board so we can charge more accurate premiums?
  5. 5. Wouldn’t it be nice if... We had end-to-end tutorials for pricing/reserving with realistic messy data for onboarding new actuaries/data scientists?
  6. 6. Or, solving common problems together so we have more resources to focus on our own unique problems
  7. 7. Data scientist / software engineer Actuary “Business stakeholders” Together? Who?
  8. 8. is a new open source community dedicated to making insurance analytics even more fun! * Kasa = Japanese for umbrella. Because insurance.
  9. 9. Shout outs/Inspirations
  10. 10. Current Challenges - Insurance companies typically don’t like to share - Actuaries have some catching up to do in terms of data science/software engineering - Slow ramp up due to limited resources (nights and weekends of a few people) << Insert inspirational quote about how nice things don’t come easily >>
  11. 11. Make the world a better place Contribute / Sponsor / Spread the word
  12. 12. Kasa.ai Blog.kasa.ai @kevinykuo

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