I had the pleasure of recently participating in a panel discussion on predictive modeling at the 2015 Casualty Actuarial Society (CAS) Ratemaking and Product Management seminar in Dallas. Prior to the meeting, the CAS conducted a predictive modelling survey, and the panelists were there to discuss both the results and the emerging role that actuaries play in predictive modeling. And it's an important role! I always try to include an actuary on a predictive modeling project, teaming actuarial expertise with subject matter experts as well as data scientists. This kind of collaboration makes for stronger models. Actuaries bring a unique business knowledge to the mix, while the data scientists will challenge norms. The result of this collaborative tension: Innovative and relevant business insights.

The CAS issued a press release earlier this week recapping the panel. You can read it or contact me for more information.