Bayes hosts Insurance Data Science Conference

Interdisciplinary conference celebrates its 10th anniversary

Bayes Business School (formerly Cass) held the Insurance Data Science Conference on 15 and 16 June.

The Conference brought together almost 200 academics and leading practitioners from the insurance industry to discuss the latest trends and developments in data science. The landmark interdisciplinary event also celebrated its 10th anniversary as well as a welcome return to London for the first time in five years following the pandemic.

The Conference featured keynote presentations from leading experts in the field, including Luca Baldassarre, Lead Data Scientist at Swiss Re; Rosalba Radice, Professor of Statistics at Bayes Business School; and Mark Sellors, Board member of Data Orchard. The event also featured a number of breakout sessions on a variety of topics, including machine learning, natural language processing, mortality modelling, and fraud detection.

Speaker at the Insurance and Data Science ConferenceDr Munir Hiabu, Bayes alumnus and Assistant Professor of Data Science and Actuarial Mathematics at the University of Copenhagen, delivers a talk at the Conference

One of the key takeaways from the Conference was the fast-growing importance of data science in the insurance industry and the opportunities it creates. Advanced machine learning and artificial intelligence techniques are now increasingly being used to improve a wide range of insurance processes, from underwriting to claims management, even in the speciality (re)insurance market at Lloyd’s, as discussed by a panel of industry experts from Describe Data, Ki, Munich Re and SCOR.

Another key takeaway from the Conference was the persistent appetite for collaboration between academics and practitioners in the insurance industry. Academics can provide insurers with access to cutting-edge research, while practitioners can provide academics with real-world problem contexts, data, and commercial insights. By working together, the two communities can progress towards the implementation of scientific advances in the insurance industry. As a result, the Insurance Data Science Conference offered a perfect opportunity for discussions and networking opportunities between academics and practitioners across areas of specialised expertise – with the conference dinner at Ironmonger’s Hall providing the pinnacle of this collective experience.

Co-organiser Andreas Tsanakas, Professor of Risk Management at Bayes, said:

“This year marks the 10th anniversary of the conference series. I’d like to thank my colleagues at Bayes Business School for their continuous support.

“We are also grateful to all speakers for their contributions and to the audience for their engagement and insightful comments. Furthermore, we thank the Scientific Committee, co-organisers, event managers and helpers at Bayes, and of course, the sponsors without whom the event wouldn’t be possible.”

Professor Andreas Tsanakas speaking at the Insurance Data Science ConferenceProfessor Andreas Tsanakas speaks at the Insurance Data Science Conference

Co-organiser Markus Gesmann, Co-Founder of Insurance Capital Markets Research and Honorary Visiting Fellow at Bayes, said:

“We are delighted that the Conference still attracts many participants from academia and the industry. It is a unique conference that fosters dialogue and networking between the two communities. I am very grateful for the support of our sponsors over the years.”

Jumping Rivers, the Gold Sponsor of the event, combines data science consultancy and knowledge transfer with the provision of managed software to support businesses in gaining invaluable insights from their data. In addition, the Silver Sponsors of the Conference were Posit, Mirai Solutions, Markel, and the Carl H. Lindner III Center for Insurance and Risk Management at the University of Cincinnati. Next year the conference will travel to Sweden, as it will be organised by Stockholm University.

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