On August 8th, 2024, Thomas Holmes, Chief Actuary for the US at Akur8, presented an insightful session as part of the Akur8 Academy webinar series titled "Actuarial Interpretation of Model Output."

As actuaries adopt increasingly complex data science techniques, we must always remember that every model corresponds to specific business problems and solutions. Therefore, the best model depends not only on statistical support, but also on business needs and goals. Often, the model with the best test statistics is not the best model for the business and the ability to translate data science results to business outcomes is an essential skill for actuaries.

In this engaging webinar, Thomas Holmes shared practical examples and modeling exercises, challenging the audience to translate complex charts into clear and actionable business outcomes. He also highlighted scenarios where actuarial judgment should override purely data-driven results, emphasizing the importance of balancing data science with real-world business considerations. Participants actively discussed which questions are critical when evaluating model outputs, helping them refine their decision-making processes.

Don't miss this opportunity to enhance your actuarial skills and deepen your understanding of model interpretation. Watch the webinar recording now and gain valuable insights into how to effectively translate data science results into impactful business strategies.