Insurance Privacy Preservation in Federated Learning Collaboration

Due to privacy and data confidentiality concerns, today’s insurance industry is rife with the protectionism of proprietary data, which has become a major roadblock that prevents the free flow of data and collaborations between data scientists and analysts. The inaccessibility of data across the boundaries of insurance firms or even business divisions within a corporation […]

FinTech Regulatory Sandbox

Regulatory sandbox is a framework in which businesses test out innovative business models, product, services without subjecting to the full regulations for the activities. The UK Financial Conduct Authority, the US Consumer Financial Protection Bureau are among the first regulatory agencies to introduce the regulatory sandbox and to propagate the concept around the world. This […]

Actuarial Program Approved to Offer All Available UEC Credits

The Actuarial Program at the University of Illinois has been approved to grant qualified students eligibility for UEC credits for all SOA exams that can be obtained through UEC credits, namely: FM, FAM_L, FAM_S, FAM, SRM, ASTAM and ALTAM. The final exam to be approved, SRM, will now be offered in the upcoming Spring 2023 […]

Algorithm Bias and Interpretable AI

Artificial Intelligence (AI) or Machine Learning (ML) algorithms, in the past few years, have been widely implemented in various industrial applications. Sometimes, these ML algorithms exhibit significant bias, or referred as Algorithm Bias, to certain groups. By the definition, Algorithm Bias refers to the inequality brought by the application of algorithms regarding personal features like […]

Federated Learning for Facilitating Privacy Preserving Collaboration

Due to privacy and data confidentiality concerns, today’s insurance industry is rife with the protectionism of proprietary data, which has become a major roadblock that prevents the free flow of data and collaborations between data scientists and analysts. The inaccessibility of data across the boundaries of insurance firms or even business divisions within a corporation […]

Representation Learning for Insurance Products

The insurance industry has long known the importance of data, and the success of its business heavily relies on data collection and analysis. With the fast growth in computing power and the development of machine learning techniques, more and more variables/features are used in predictive analysis in various aspects of insurance, such as rate making, […]

Building an NLP-Powered Repository and Search Tool for Cyber Risk Literature Project

Since the time when cyber insurance was first introduced to the market, there has been a rapidly expanding volume of literature that focuses on other aspects of cyber risk, such as the legal and financial consequences of cyber incidents, and they are closely related to the development of the cyber insurance industry. With the large and […]

COUNTRY Financial Business Owner’s Policy (BOP) Loss Predictive Model

For the insurance industry, the potential to understand customers and businesses using new dimensions represented by social and other online data can unleash significant new insights from both customer behavior and risk perspective. These insights can drive insurance automation, underwriting efficiency, and enhanced customer experience. The objective of this project is to develop and optimize […]

Insurtech Innovation via Natural Language Processing (NLP) Project

For the insurance industry, the potential to understand customers and businesses using new dimensions represented by social and other online data can unleash significant new insights from both customer behavior and risk perspective. These insights can drive insurance automation, underwriting efficiency, and enhanced customer experience. The objective of this project is to develop NLP models […]