The Data Science Practice Area is intended to cover new and emerging fields of practice where actuaries through their particular skill-set and/or experience could play a leading role. The Data Science Forum seeks to both recognise and promote awareness of the existence of such practice areas among membership, would like to give members practicing in these areas opportunities to collaborate and foster Continuous Professional Development relevant to these areas.

By making actuaries aware of the existence of this additional data sources and the emerging means to analyse and new ways to visualise and communicate the results, this sub-committee believes that such knowledge will benefit empower actuaries in multiple fields and promote a relevant profession.

 

Objectives:

• To actively support the development and thought leadership of actuarial practice in the areas where actuaries apply actuarial techniques and theory in the Business Intelligence and Analytics area through the development of various activities generating awareness.
• To contribute to the strategic direction of the Actuarial Society from the perspective of Business Intelligence and, in so doing, to support the Actuarial Society brand promise of “thought leadership”.
• To provide high-level support for the Actuarial Society’s education initiatives in relation to Business Intelligence and Analytics.
• To work closely with other practice areas to ensure integration and knowledge transfer where possible.
• To compile a survey documenting the composition of South African actuarial professionals in the Data Science Field in order to assess any skills absent or underdeveloped in the current actuarial training and education and where such skills could be obtained.
• To allow the Actuarial Society to stay informed about members operating within the Business Intelligence and Analytics field, the nature of their work and how this impacts the profession. To allow the Actuarial Society to remain relevant to members working in non-traditional roles.
• To provide an opportunity for actuaries operating in the Business Intelligence and Analytics area to collaborate, exchange ideas and develop professionally through recognized and relevant CPD events.

 

Objective	Measurement
University presentations	4 University presentations per annum.
Sessional meetings	1 Sessional meeting per annum to expose actuaries to the Business Intelligence area.
Newsletter	Produce semi-annual newsletters containing Sessional information, as well as references to industry information.
Actuarial convention	Create awareness through Business Intelligence presentations at the annual ASSA convention.
Industry survey	Survey aimed at members of the profession working in the Field
Seminar	Host a one or two-day Seminar once every two years that will aim to educate and up-skill actuaries in the Field.
Produce, or drive the production of a piece of research	Drive the production of a research project, or oversee and assist with research pieces by university students or other actuarial professionals.