EAA Web Session: "Hands-on Adaptive Learning of GLMs for Risk Modelling in R" on 13 November 2023

 
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­ EAA Web Session  ­
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Hands-on Adaptive Learning of GLMs for Risk Modelling in R
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13 November 2023 | 9:00-17:00 CET
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­ In recent years, machine learning techniques have found their way into the insurance world. While these methods generally improve model accuracy, both explainability and manual interventions continue to play a key role in risk and tariff modelling. This is why practitioners in many lines of business still apply Generalised Linear Models (GLMs) today for non-life pricing.
But conventional modelling with GLMs comes with downsides. It is a mostly manual and step-by-step process, which may result in overfitting or unrecognised main/interaction effects.

However, GLMs do offer variants in the flavour of machine learning that automatically adapt to patterns in the data. These techniques are known as regularised GLMs, and their most prominent versions are the Lasso, Ridge regression and elastic nets. Not only can these methods proactively prevent overfitting but also adaptively learn non-linear patterns in the data along with an implicitly integrated pre-processing and selection of variables.

During the web session, we will first explore the theoretical foundations of regularised GLMs and the explicit design of the algorithm. The remainder will then be hands-on as we provide extensive code that implements the algorithm in the statistical programming language R. We will discuss and run the code. You will learn how to use the programme and apply the algorithm to non-life claims data for pricing. Further focus will be on the visualization of the results, especially on the insights gained from the learned meta-results of the algorithm, e.g., the implicit way how we selected, prioritised and pre-processed variables.

Your early-bird registration fee is € 300.00 plus 19% VAT for bookings by
2 October 2023. After this date, the fee will be € 400.00 plus 19% VAT.
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   Details  
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­ Coming soon... ­
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­ Communication for Actuaries | 23-26 October 2023

Introduction to Natural Catastrophe Modelling  | 31 October 2023

Practical Techniques from Asset Management Less Known to Actuaries |
16/17 November 2023

...and a lot more! Explore our website for more information or download our overview.
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