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Old 07-10-2019, 10:37 AM
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Default E3: Useful topics from CSPA for people learning modeling from other courses

Apologies in advance that this may not be E3 specific topic, but the question is best asked to those who took E3. Therefore, I thought it's most appropriate to ask here.

I think one of the good things about CSPA is that it's insurance specific and deals with issues unique to insurance industry. Some of us may have acquired modeling skill elsewhere or are learning from source other than CSPA. I'm wondering what topics from CSPA would be particularly useful to people in such situation.

For example, I noticed general DS curriculum uses GLM for classification problem mainly while putting less emphasis on regression problems. Classification (ie: GLM logistic regression) is useful to actuaries but I believe regression is more of an interest to actuaries especially in pricing.

I looked at E2 and E3 syllabus. There certainly are topics that are overlooked or not covered in general DS courses. Some sources are paid material, so I couldn't look into detail.

What are the CSPA topics that are useful to know, but are not really covered outside CSPA materials? I believe those would at least include deductible/limit and offsets, incorporating credibility to the model, regulation.
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Old 07-11-2019, 10:53 AM
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I think the primary material for the DS-trained types will be from Exam 1 that covers the qualitative aspects of how insurance works, topics and concepts that should be understood (e.g., reinsurance and its impact on looking at losses for a primary insurer) to better be able to ask the right kinds of questions when working with insurance data.

I see E2 as not necessarily being DS specific material, but it's important to have that knowledge/skill set when looking to do actual DS processes.

While E3 is likely not to have "new" material for those who obtained a DS degree, but it does enable the examination of that knowledge with the use of insurance data, with the inclusion of the related topics/concepts from Exam 1 being the most likely "new" skill set to be incorporated with the DS-degree knowledge.

And the project is the "putting it all together" exercise where you have to perform skills from Exam 2 and 3 keeping the knowledge set from Exam 1 in mind (and explicitly attended to in the project write up!).


With all that said, I think that the CRISP-DM paper might be something "new" to the DS folks since the paper appears to be a "in-practice" paper and not an academic paper, so I don't know how many DS professors will have seen/looked at it (and explicitly include it in their curriculum).
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Old 07-11-2019, 01:03 PM
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Quote:
Originally Posted by Vorian Atreides View Post
With all that said, I think that the CRISP-DM paper might be something "new" to the DS folks since the paper appears to be a "in-practice" paper and not an academic paper, so I don't know how many DS professors will have seen/looked at it (and explicitly include it in their curriculum).
Yay free online publication! Thanks, will take a look.
https://www.the-modeling-agency.com/crisp-dm.pdf
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