Towards Open Collaboration in Insurance Innovation


In the past year, we saw big data and distributed computing maturing and artificial intelligence coming into the mainstream. These technologies were merely buzzwords not too long ago, but have disrupted a wide range of industries, including insurance. One factor that is often credited for the rapid advances in these technologies is the open and collaborative nature of the computer science and machine learning communities. With a few exceptions, the insurance industry hasn’t always embraced open source software and sharing research, but the trend has been shifting recently as actuaries refine and align their roles in an environment driven by data science. We discuss benefits, challenges, and ramifications of conducting actuarial research in the open, and introduce Kasa AI, a recent initiative for community-driven research and software development for insurance. We demonstrate ongoing projects in life and nonlife insurance, and walk through workflows for participating.

Insurance Data Science