Data scientists and actuaries Insurance companies are progressively expecting staff to add data science to their skill sets. Typically, the talent possessed by data scientists combines three qualities: coding, mathematics and statistics, and domain knowledge. Whilst programming allows data transformation and the creation of algorithms, the fundamentals of mathematics facilitate the use of data to develop models and predict future outcomes. Additionally, data scientists require a capacity to interpret actual phenomena and regulation to solve real world problems. Therefore, data science extends beyond the realms of machine learning and statistical analysis; it encompasses the entire spectrum of data processing. These competencies, together with technical actuarial expertise and knowledge of regulation, are becoming highly desirable in the recruitment of actuaries.
