For many Canadians, owning a condo is one of the most significant investments of their lives. However, the longevity of condo infrastructure in Canada is threatened by various risks that require more attention.
The actuarial profession has always been at the forefront of utilizing technology to improve decision-making and predictions. Now, with the introduction of advanced artificial intelligence (AI) and machine learning (ML) tools like OpenAI’s GPT-4, the profession is on the cusp of another major transformation.
On a scorching day in August 2012, Donald Blue received a phone call that altered the rest of his professional life.
The Actuarial Standards Board is in the process of adding Part 8000 to the CIA Standards of Practice, which will cover enterprise risk management, and draws from the sixth International Standard of Actuarial Practice.
Earlier this year, the Canadian Institute of Actuaries (CIA) issued a statement on the growing interest in using big data in insurance ratemaking.
Canadian Institute of Actuaries
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SeeingBeyondRisk@cia-ica.ca