How the EU AI Act will concretely impact your companies and how to get ready ….

By Sophie Le Goff, Pauline Baron and Rachel Jaoui

SOPHIE LE GOFF is Partner Insurance & Compliance at SIA Partners		PAULINE BARON is Senior Consultant Insurance at SIA Partners		RACHEL JAOUI is Consultant FSI at SIA Partners

 

After some years of seeming AI ‘prosperity’, the accumulation of scandals has shed light on the limitations to AI and have caught the eye of several regulators worldwide (UK, China, USA,…). Among them: the European Union, which is on its way to vote on the AI Act this year, with possible enforcement by 2025 or 2026 and notably high fines for non-compliance.
If this initiative by the EU Commission looks praiseworthy at first sight, digging into the details reveals several challenges and ambiguities which need to be clarified to assess the impact the text will have on companies, the main one being the distinction between what is considered a provider or a user. Notwithstanding, the major impacts on companies can already be assessed. What are they and how to cope with them?

 

Read the full article here.

 

Disclaimer:

This article represents the opinion of the authors, and not necessarily the opinion of the AAE.

This article was published in The European Actuary No. 33 – March 2023

Leadership (and influencing) with the brain in mind

By Lori Shook

		LORI SHOOK is a London based coach, trainer, speaker and author. Her company, shooksvensen, supports organisations to become great places to work.

 

Leading people can seem like a mystery. Why do they behave the way they do? At times motivated, inspired and engaged and other times surprisingly disruptive, resistant, irrational or irritable. Why can’t they (or rather, we) be more consistent and predictable?

 

Read the full article here.

 

Disclaimer:

This article represents the opinion of the author, and not necessarily the opinion of the AAE.

This article was published in The European Actuary No. 33 – March 2023

Man and machine: a bright future for insurance?

Interview by Jennifer Baker

		MATEUSZ MAJ, the CEO of Vivadrive, has been an entrepreneur since 2012, co-founding technology startups and mentoring at the University of Warsaw Incubator. He is also a data analyst with seven years of experience as a ‘quant’ in the financial industry.

 

Artificial intelligence has long held the promise of making our work lives easier. Now that promise is becoming a reality, thanks in part to new insurtech products, like those developed by Mateusz Maj.

 

Read the full article here.

A video of this interview is now available on actuview:

• Public (short) version (access to all)
• Full version (for actuview user)

 

Disclaimer:

This article represents the opinion of the interviewee, and not necessarily the opinion of the AAE.

This article was published in The European Actuary No. 33 – March 2023

AAE submitted a response to EIOPA’s Discussion paper on prudential treatment of sustainability risks.

AAE’s submission can be found here.

Submit the abstract for your presentation at the European Actuarial Day (EAD) on 27 June 2023 now!

The AAE invites all actuaries and experts on the continent as well as actuarial students to discuss the current professional challenges and opportunities arising from new fields of professional activity as well as from traditional work areas. The event’s program will put a special focus on the environment actuaries work and operate in and the fast development of this environment in the recent past and expectations for the future.

 

Main topics:

• Emerging Risks: Identification, Taxonomy and Mitigation
• The Role of Actuaries in Accounting
• Wider Use of and Enhancing the Actuarial Skills
• Back to the Roots: New Approaches in Traditional Fields
• Professional Actuarial Behaviour

 

The EAD 2023 Program Committee welcomes abstracts, especially on the above-mentioned topics until 15 March 2023.
Click here for further information 

 

Registration is open. Attendance is free of charge.

LINK TO REGISTRATION

 

All relevant information can be found on www.ead2023.org.

 

The event is hosted by AAE and organized by the European Actuarial Academy.

Issue 33, March 2023 of The European Actuary has been published.

 

The theme of this issue is: Artificial Intelligence

Featured Articles:

• Man and machine: a bright future for insurance? | Interview with Mateusz Maj
  See also the video interview on actuview (Teaser | Full interview)
• Leadership (and influencing) with the brain in mind | by Lori Shook
• How the EU AI Act will concretely impact your business and how to get ready ….. | by Sophie Le Goff, Pauline Baron and Rachel Jaoui
• Actuarial jobs outlook | by Zuzana Weber, Jozef Hancar, Rafael Moreno Ruiz, Giampaolo Crenca, Martin Oymanns, Henning Wergen
• Artificial Intelligence – the Act and the impact | by Jonas Offtermatt and Michael Zimmer
• AAE priorities in 2023 – a step on our way | by Lutz Wilhelmy
• ChatGPT and the philosophers | by Joel Walmsley
• Insurance pricing: discrimination, causality and fairness | by Mathias Lindholm, Ronald Richman, Andreas Tsanakas and Mario Wüthrich
• The IFRS17 identity | by Servaas Houben
• Retirement on a DC pensions – similarities, differences and improvements in NL and UK | by Gijs Cremers and Hannah English
• Insurability and Artificial Intelligence | by Bogdan Tautan
• ‘Artificial Intelligence’ | column by Esko Kivisaari

 

Please visit the webpage of The European Actuary on the AAE website for prior issues or further details.

AAE submitted a response to the EIOPA’s Discussion Paper on Methodological Principles of Insurance Stress Testing – Cyber Component.

AAE’s submission can be found here.

The Actuarial Association of Europe (AAE) will host the next European Actuarial Day on 27 June 2023. The virtual one-day conference will again offer a unique CPD opportunity for all interested actuaries and risk experts in Europe.

The EAD 2023 Program Committee welcomes abstracts until 15 March 2023. Please support us and share the Call for Papers in your communities.

 

Registration is now open. Attendance is free of charge. 

LINK TO REGISTRATION

 

Before and during the event, interactive features will allow all participants to connect with each other and interact with the speakers and the sponsors.
The AAE invites all experts to discuss the current professional challenges and opportunities arising from new areas of activity of the profession as well as from traditional work areas.

 

All relevant information can be found on www.ead2023.org.

 

The event is hosted by AAE and organized by the European Actuarial Academy.