Navigating Insurance Fairness in Rapidly Evolving Regulatory Environments

Description

PLEASE NOTE: REGISTRATION WILL CLOSE 10 AM ET THE DAY OF THE WEBINAR. DUE TO HIGH VOLUME OF DEMAND, WE ARE ONLY ABLE TO GUARANTEE A SEAT TO THOSE WHO REGISTER 48 HOURS AHEAD OF THE WEBINAR TIME.

Regulations are evolving around the world to address potential bias and discriminatory impacts resulting from AI, machine learning and other predictive models. This session will first compare new and emerging bias-related regulations in the U.S., Canada, China, and Europe that may have a significant impact on the insurance industry. How can insurer's comply in a rapidly evolving regulatory environment? We will explore several useful governance and testing approaches that insurers and actuaries can employ during model-building, implementation, and maintenance, that can support compliance with bias-related regulatory reporting and testing requirements. This session is a preview of two newly released reports in the CAS Research Paper Series on Race and Insurance Pricing.

Learning Objectives:

  1. Explore emerging regulatory frameworks on bias in AI and predictive models around the world.
  2. Evaluate the potential impacts of evolving regulations related to bias and fairness on insurance industry practices.
  3. Develop a set of robust processes and tools to support compliance with bias-related regulatory governance, reporting and testing requirements.
Registration Information and Fees

PLEASE NOTE: REGISTRATION WILL CLOSE 10 AM ET THE DAY OF THE WEBINAR

Registration Fees (in U.S. Dollars) Received on/by
October 31, 2024
Received after
October 31, 2024
Individual $60 $85
Multiple Connections**
(Unlimited internet connections for individuals working for the same company. Please note that audio for this presentation will be streamed via the web)
$720 $770

*Multiple Connection Registrations should contact Mallory Peebles directly at
mpeebles@casact.org. The registering party for the Multiple Connection Registration will be responsible for distributing all event details to attending individuals within their company.

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Registrations fees will be refunded for cancellations received in writing through email, refund@casact.org, by November 7, 2024 less a $25 processing fee.

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Contributors

  • Jessica Leong

    Jessica Leong is the CEO of Octagram, an actuarial consulting firm. Octagram helps insurers with pricing, so that they can win the best risks, identify the highest risks, and grow profitably. In addition to consulting, Octagram has two models: FireRQ, which leverages 1.5 million reported fires to help commercial property, homeowners and BOP carriers with pinpoint predictions on fire risk, and CrashRQ, which leverages millions of crash events to help personal auto carriers with more precise territorial rating.

    From 2020–2021, Jessica was President of the Casualty Actuarial Society and was proud to lead this professional organization serving over 9,000 members.

  • David Schraub

    David Schraub, FSA, CERA, MAAA, AQ is the Founder and CEO of David Schraub Actuarial Consultancy. Is your Predictive Modeling algorithm inadvertently discriminatory, leaving behind revenues and attracting unwanted regulatory attention? Do you trust the Data Analytic team not to create an AI model that will become a costly White Elephant?

    David is a consultant with 25 years of actuarial experience, bringing the actuarial lens to innovation and technology for the insurance industry. He advises clients on how to implement AI use cases while mitigating unwanted regulatory attention.

    With a solid technical education from the prestigious Ecole Nationale de la Statistique et de l'Administration Economique master's degree in actuarial science, experience at the SOA, at carriers and consulting companies, David continues to lead and support the industry by chairing the Artificial Intelligence subcommittee of the American Academy of Actuaries. He also volunteers on Behavioral Economics and Data Science and Analytics Committee committees, as well as on the project oversight group of the Society of Actuaries Quantitative Fairness Metrics project. These activities keep me on the leading edge of how the family of Predictive Modeling techniques impacts the industry, from the old GLM-GAM to AI, ML and newer GenAI, LLM techniques.

    David publishes and presents on innovation, technology, bias, behavioral economics, life underwriting, stochastic on stochastic, and risk management. He is passionate about exploring the opportunities and challenges of applying innovation and technology to the actuarial profession and the insurance industry. David earned the certificate Foundations of Independent Audit of AI Systems (FIAAIS).

November 14, 2024
Thu 12:00 PM EST

Duration 1H 30M

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