Machine Learning in Reserving Working Party – members

Application closing date: 14 December 

The general insurance Machine Learning in Reserving Working Party is a group of over 70 volunteers, bringing together a range of data scientists, actuaries and academics from around the globe.

When we started out in 2019, our premise was to find out why, while machine learning techniques are widespread in pricing, they are not being adopted ‘on the ground’ in general insurance reserving (certainly in the UK). 

Since then we have been working to help general insurance reserving actuaries develop data science skills, and are looking at ways that machine learning can be incorporated into reserving practice.

Our current priorities are to carry out further research, keep abreast of the relevant literature, and support and encourage actuaries to learn ML. Our full scope is reflected in our range of workstreams.

We would particularly like to hear from those who:

• Have tried using our neural network framework and are interested in applying it out on their own data, or have an interest in helping us develop/scenario test it (including using GBMs). 
• Have experience of, or interest in, time series approaches such as LSTM, RNNs or transformers
• Could help with reviewing and recommending papers, providing feedback on our learning materials or maintaining our blog site 

Experience in general insurance reserving is expected, however the working party is open to everyone with enthusiasm for the subject and time to commit. Applications are welcome from both IFoA members and non-members.

Time commitment

It is estimated that volunteers will be asked to devote at least one or two days per month to the research, developing models and/or writing up findings. 

Next steps

To see where you might be best able to help, before applying please look through our past work. 

If you are interested in this role and would like an informal conversation before applying, please email us at engagement.team@actuaries.org.uk.

If you have read all the above and would like to apply, please send us:

• brief details of your relevant experience
• your reasons for wishing to get involved
• your ARN (if you are a member)
• a brief copy of your CV and full contact details (if you are a non-member)
• confirmation that you have read, understood, and agree to the information and requirements laid out in our volunteer information pack (please be aware that until we have received this confirmation, we will not be able to appoint you as a volunteer)

Please email all the above to engagement.team@actuaries.org.uk. Please note, we are unable to accept late applications.

We are committed to promoting diversity, equality of opportunity, and inclusion, within all our vacancies and we actively encourage applications from a diverse range of potential candidates. Recognising and embracing the unique and diverse talents of our volunteers is fundamental to the success of our organisation.

What you need to know

Volunteering provides you with a wide range of opportunities. With all rights and opportunities come responsibilities and we ask all our volunteers to comply with the terms of the IFoA’s governance manual and volunteer information pack. Before offering to provide support, please read through: what you need to know.