Super crunching isn’t just a tech buzzword; it’s a transformative approach to analysing vast data sets, with applications in numerous fields—from healthcare advancements to personalised marketing strategies. In the insurance industry, super crunching has completely transformed risk assessment and pricing strategies. Traditionally, insurance companies relied on historical data and generalised risk factors to determine premiums....

Actuaries are the sentinels of the financial world, constantly assessing risk, predicting future events, and creating strategies to minimise uncertainty. While the role is often seen as methodical and mathematical, there are moments when randomness, that elusive force, plays a much larger role than expected. Nassim Taleb’s book “Fooled by Randomness” explores this concept, and...

Artificial Intelligence (AI) is becoming omnipresent, gradually reshaping our world. In the realm of insurance, Actuarial science—traditionally reliant on mathematical and statistical methods to evaluate and manage risk—is undergoing a significant transformation thanks to AI. The Limitations of Traditional Actuarial Science Historically, Actuarial science has depended on statistical models and historical data to assess risk...

SHMA was a gold sponsor for the recent inaugural IFoA Conference in the Middle East. Held from May 11th to 16th across Riyadh and Dubai, the Conference was a resounding success. It featured insightful panels, keynote addresses from industry experts, and ample opportunities for student engagement. The main purpose of the event was to provide...

Calling all SHMA superstars! Remember that epic picnic we threw back on June 24th? Well, get ready to reminisce because we’re taking a trip down memory lane! Setting the Scene: Rani’s Farmhouse Paradise Imagine this: a sprawling farmhouse named Rani’s, complete with a glistening pool and a garden that stretches as far as the eye...

Actuarial science has a rich and complex history, with roots that stretch back thousands of years. The origins of risk management and probability theory involve notable figures such as a French gambler, a London coffeehouse regular, a famous astronomer, and ancient Roman courts. Ancient Roots of Insurance Principles Nearly 4,000 years ago, the Code of...

As we look forward to 2024, it’s crucial to rethink our goals and prepare new strategies. Whether you’re an insurer, broker, end-user, or a valued customer, here are six key insurance trends to watch out for in 2024. Cyber-Security Insurance With AI and machine learning proliferating, cyber threats are becoming a significant concern. Businesses and...

The fusion of data science and Actuarial practice has ushered in a new era for the insurance industry, with predictive modelling emerging as a powerful tool. By delving into demographic data and employing sophisticated algorithms, insurers can now analyse a wealth of variables—from behavioural patterns to lifestyle choices—to assess risks, set premiums, and anticipate future...

Excel continues to play a crucial role in Actuaries’ toolkits, offering a familiar and versatile platform for data manipulation and analysis. Its intuitive interface and wide range of functionalities make it a preferred choice for many professionals in the field. However, the landscape of Actuarial work is evolving rapidly, driven by advancements in technology and...

Introduction The rush of nostalgia sweeps through my mind, bringing forth cherished memories of beloved fictional characters encountered through books, shows, and movies. These characters have been invaluable gifts, meeting me at different junctures of life, aiding in self-discovery, and shaping my understanding of strengths and weaknesses. They offer solace, resonance, and a sense of...