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Data Science & AI

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Open-access content Tuesday 31st August 2021
Authors
Luke Holloway
web_p43_Data-Science&AI_CREDIT_iStock-1330399817.png

Luke Holloway finds out about the new Introduction to Data Science & AI for Insurance course

The CII has partnered with the Southampton Data Science Academy (SDSA) to develop a new introductory course for insurance professionals to develop their knowledge of data science and artificial intelligence (AI) within the context of insurance – the Introduction to Data Science & AI for Insurance.

Ian Simons, customer director of the CII, says: “The course is a unique combination of cutting-edge academic and technical content from Southampton Data Science Academy, with insurance context, ethical guidance and applied examples from the CII.

“For the first time, these have been brought together to cover both applied data science – including analysis, illustration and technologies – along with artificial intelligence and the ethical use of AI techniques across the value chain,” adds Mr Simons.

New understanding

Data science is becoming an increasingly vital skill in many core insurance functions, including risk assessment and pricing, reserving, fraud detection, customer segmentation, customer experience, product development, reporting and communication.

The learning gained during the course will be valuable to all professionals working across the insurance sector, says Mr Simons: “The course is aimed at a broad introductory level for anyone who may not necessarily think of data science as a core part of their existing function but will show how data and AI techniques can improve efficiency, innovate new products or ways of pricing, selecting or finding customers and more.”

The course is ideal for insurance professionals seeking to develop an understanding of data science and AI capabilities – from broking, underwriting and claims professionals, to business analysts, product development, management and marketing roles.

Mr Simons continues: “Data science and AI have both regularly featured in the top three most sought-after skills by numerous research papers, including the Financial Services Skills Commission and the Future of Skills in the London Market, among many others.

“This course is aimed at complementing existing role-specific technical knowledge with enabling data skills and techniques so they can do more, more efficiently.” The next course will be scheduled for Autumn/Winter 2021.

Luke Holloway is editor of The Journal

Image credit | iStock

Learning outcomes

On completion of the course, you will be able to:

  • Explain core concepts and methods in data science and AI within insurance.
  • Identify opportunities to apply data-science driven business solutions.
  • Gather, process, analyse, visualise and communicate insight from novel, large and heterogeneous datasets.
  • Perform basic analysis of relevant datasets with state-of-the-art tools and technologies in the insurance context.
  • Provide insights about the legal, ethical and technical implications of using big data and AI in an insurance context.

 

Key features

  • 24 hours study time (four hours per week for six weeks)
  • Six modules (one module per week)
  • Interactive quizzes and exercises
  • Weekly group tutorials
  • One-to-one tutoring session
  • Coursework assignment
  • Peer networking via discussion forum
CII_Aug_Sept2021.jpg
This article appeared in our August/September 2021 issue of The Journal.
Click here to view this issue
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Topics:
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