ASM Webinar Series 2021 – Exploring Data Manipulation & Actuarial Modelling in Python
Past Events

ASM Webinar Series 2021 – Exploring Data Manipulation & Actuarial Modelling in Python

By April 27, 2021 May 21st, 2021 No Comments

Start Date: 18/05/2021 @ 11.00 a.m.
End Date: 18/05/2021 @ 12.30 p.m.
Venue: Microsoft Teams
CPD Hours: 1.50
Member Charge: RM 0
Non-Member Charge: –
Max No. Attendees: –
Invitation Type: Members Only
Sign up link:
Sign Up Start Date: 28/04/2021
Sign Up End Date: 17/05/2021
Write-Up File Download: Not available.
Presentation Slides: Not available.
Synopsis:
In the first decade after the arrival of new millennium, a lot of actuarial expertise used Microsoft Visual FoxPro (“VFP”) in actuarial work, which used Structured Query Language (“SQL”) as the main programming language. Apart from performing data manipulation on reporting and experience studies, VFP was also used in performing actuarial modelling, especially before Prophet is widely used in the life insurance industry.

However, the popularity of VFP among actuarial expertise dropped tremendously after Microsoft discontinued from selling new VFP licenses and stopped the extended supports after 2015. Although many have switched to other alternatives, such as Data Conversion System (“DCS”) and Microsoft Access, unfortunately these applications do not provide effective solutions in data manipulation and business issue modelling (that are not supported by actuarial software). Lack of effective tools in analysing data poses a challenge to actuarial expertise, especially when they need to scrutinize large policy and claim data files in order to understand the nature and trend of business.

In this webinar, we are going to share our initial study in data manipulation and modelling cash flow projections using Python, including premium income, claim outgo and gross premium valuation (“GPV”) reserves. Python is a programming language that gains much popularity nowadays and shines for data science, machine learning, systems automation, web and API development – such as Instagram, Pinterest and Spotify.

Does Python serve as a good replacement for VFP, as a user-friendly programming language that actuarial expertise should be equipped with? By sharing our first study on Python, we believe it would be able to trigger your interest, in starting to explore the potentials of Python in the actuarial field.

The Speaker

Mr. Lim Chee Beng

Principal Consultant

ACTBuilder Actuarial Solutions Sdn. Bhd.

Learn More

  • Mr. Lim Chee Beng

    Principal Consultant, ACTBuilder Actuarial Solutions Sdn. Bhd.

    Mr. Lim Chee Beng is the Principal Consultant of ACTBuilder Actuarial Solutions Sdn. Bhd. and specializes in life insurance and family takaful actuarial assignments. With over 18 years of professional work experience in the Malaysian insurance and takaful industry, he was formally the head of an actuarial valuation team in a multinational insurance company and a local takaful operator.

    By establishing ACTBuilder Actuarial Solutions in 2013, Chee Beng started providing technical solutions to local insurance companies and takaful operators on various business issues, including enhancing actuarial data manipulation & statistical reporting processes, developing alternative solutions for post sales illustration exercise, developing calculation modules for account balance computation and providing consultancy advice on business rules to be adopted in the policy administration systems.

    As Chee Beng believes technical skills play an important role in the soundness of business processes, he has also shared his technical knowledge & skills in large data handling and systematic process design via conducting technical training to all sorts of business users in insurance companies and takaful operators.

    This webinar will be assisted by Lim Jet Kong, Associate Consultant from ACTBuilder Actuarial Solutions Sdn. Bhd.