The European Actuarial Academy (EAA) is back from the summer break and is excited to present its professional development opportunities for November and December. A special highlight: on 4 December 2025, the EAA will celebrate its 20th anniversary with a free online conference.
The EAA looks forward to welcoming the actuarial community to its autumn programme and to this special milestone event.
Web Session 'Hands-on Adaptive Learning of GLMs for Risk Modelling in R'
on 10/11 November 2025 | 9:00-15:00 CET
In this web session, we will dive into a specific algorithm that uses GLM regularisation in an easy yet powerful way. In this algorithm, we first postulate a complex model structure that represents all potential linear and non-linear patterns for the main effects (and possibly interaction effects) in the data. We then introduce a global penalty term which we apply to reduce the model to only the statistically significant effects at which model accuracy on unseen data performs best.
From a theoretical point of view, we first substantially widen the GLM modelling space to reduce (or even eliminate) any model bias. This implicitly introduces a higher model variance which we counteract by continuously increasing the penalty term. Since the reduction in variance comes again at the cost of allowing some bias, the algorithm effectively allows us to control for the bias-variance trade-off in the GLM modelling space, and we aim for the GLM that simultaneously minimises the prediction error.
Applying the algorithm results in a simple but generally more accurate model in which we adaptively learned the relevant effects in a data-driven, simultaneous and automated way. A actuarial-academy.com key feature is that we can account for all common types of explanatory variables (continuous, ordinal, nominal) both at the same time and in the same way. The desired balance between model simplicity and forecast accuracy can be set by means of a single control parameter. The final model has a proven GLM structure that is still explainable and allows seamless integration into existing pricing workflows.
During the web session, we will first explore the theoretical foundations of both the biasvariance trade-off in predictive modelling and general GLM regularisation. We will then study the explicit design of the algorithm. The remainder will be hands-on as we provide extensive code that implements the algorithm in the statistical programming language R. We will discuss and run the code using a realistic case study in actuarial claims frequency modelling. You will learn how to use the programme and apply the algorithm to non-life claims data for pricing. Further focus will be on the visualisation of the results, especially on the insights gained from the learned meta-results of the algorithm, e.g., the implicit way how we selected, prioritised and pre-processed variables.
Web Session 'Applying & Governing AI in Actuarial Work: Implications Assessed'
on 12 November 2025 | 10:00-12:00 CET
The online seminar will explore selected AI applications relevant to the actuarial profession, focusing not only on potential use cases but also on how actuaries can responsibly design, validate, and monitor AI models. Participants will learn how to build compelling business cases for AI initiatives and understand where actuarial expertise offers unique value in ensuring model quality, transparency, and alignment with ethical and regulatory standards. By combining technical actuarial skills with a deep understanding of AI methodologies, actuaries can play a key role in shaping and governing AI solutions, thereby creating significant value in a rapidly evolving landscape.
Finally, the session will explore how to move from a general definition of harm to effectively detecting and managing it. It will incorporate both legal and quantitative perspectives—an approach especially valuable when addressing significant harm in AI systems. This will help bridge the gap between legal definitions and statistical evidence.
All in all, the web session will provide a better understanding of what it takes to implement AI models in practice, covering topics relating to definitions of AI and models, risk management practices, infrastructure set-ups and implementation standards.
The participants will build a tool-kit of knowledge that will help them address an array of business cases in practice. The session will also help in increasing the know-how of implementing AI models, their impact within the organisations, given their challenges around explainability to the stakeholders, potential harm and relevance as a whole.
Web Session 'Emerging Risks: Statistical Analysis and Scenario Building'
on 13/14 November 2025 | 9:30-13:00 CET
This session will notably have two main angles. Firstly, it will raise the question of data, their quality, and the necessary reliance on expert judgment, crucial for risks where experience is limited. Bayesian analysis notably allows for this integration, but does not exempt from a critical examination of the quality of expert data, and we will thus present some methods to attempt to evaluate it.
Secondly, we will examine the shift from a “historical data” approach to a “scenario-based” approach. Because while the notion of scenario allows for anticipating situations never encountered before, their design must adhere to scientific standards to avoid being purely speculative.
A simplified illustration of these issues will be provided during the training. An R notebook will allow participants to follow and adapt the implementation without needing an in-depth knowledge of the software.
Web Session 'Stochastic Projection Models in Life Insurance'
on 19 November 2025 | 9:00-13:30 CET
This web session presents the general structure and components that projection models must have for the valuation of life insurance liabilities including their embedded options and guarantees within an economic / market-consistent balance sheet (MCBS). It explains the need for a simplified modelling of the life insurance contracts / portfolio in a stochastic context and introduces three conceptually different approaches currently observable in the market. The online training compares their key underlying ideas and introduces – based on concrete examples – the mathematical / actuarial methodologies used. This introduction also includes a qualitative discussion of their individual strengths & challenges with regards to both external financial reporting and internal business steering including aspects like movement analyses, planning and performance management. Concerning the application of the comparably little-known Liability-2-Step approach, the session will present the operational experience of an Austrian insurance company.
Web Session 'Quantifying the Prospective Impact of Air Pollution on Mortality'
on 20 November 2025 | 9:30-12:45 CET
This lecture will aim to understand the current and future effects of air pollution, particularly on mortality, and its impact on insurance activities. The lecture will also provide participants with tools to reimplement their own model to integrate environmental factors into risk analysis and challenge conventional assumptions.
The lecture will provide the ability to reach several objectives such as:
- Understanding the close link between climate change, air pollution, and current and future insurance risks,
- Reviewing the regulatory texts on environmental issues,
- Proposing a state of the art review of open-source data for the study of air pollution.
- Introducing the theory used for fine-scale temporal and spatial modelling,
- The quantitative translation of an air pollutant concentration measurement into an impact on mortality,
- Raising awareness of the importance of using forward-looking scenarios in insurance risk assessment.
The lecture is built around a mixed approach combining contextual and regulatory presentations, theoretical insights, and intuitive use cases. Learning will be progressive and interactive to hopefully ensure a full understanding of the topic.
Web Session 'Solvency II Review: Framework Approaches Finalisation'
on 24 November 2025 | 9:00-12:15 CET
The amended Solvency II Directive and a new Insurance Recovery and Resolution Directive (IRRD) entered into force on 28 January 2025. After transposition to national law, they will become applicable from 30 January 2027.
The Solvency II framework needs to be accompanied by Delegated Regulation, Regulatory or Implementing Technical Standards (RTS or ITS) or Guidelines. The respective empowerments are contained in the Directive. Drafts of several RTS and ITS have already been provided by EIOPA and put up for consultation since 2024. On 17 July 2025 the EU Commission published the draft version of the amendments to the Delegated Regulation.
Altogether, these documents now allow a reliable assessment of the impact on undertakings’ business. The three pillars of the Solvency II-system will be affected: quantification, governance, reporting and disclosure.
Basically, the IRRD shall be fully consistent with Solvency II. It requires the establishment of a separate authority to manage the resolution of insurance undertakings if a continuation of the business is assessed as non-viable. Although maximum harmonisation of the framework is not required, guidance is needed to ensure a harmonised application across countries. A first batch of drafts of RTS and Guidelines has already been published at the end of April 2025, specifying amongst others the content of pre-emptive recovery plans and resolution plans.
These and more general topics affecting the task of actuaries will be discussed. This web session will deal with the following topics:
- The amended SII-Directive
- SII: Proposed Delegated Regulation, Technical Standards and Guidelines
- The IRRD
- IRRD: Proposed Technical Standards and Guideline
Web Session 'Communication for Actuaries'
on 25-28 November 2025 | 9:30-13:00 CET
The course is designed to give participants a solid foundation on the topic of communication and to practice what to learn so the gained knowledge can be used and gain confidence in areas that are relevant work. The last day offers the opportunity to make a short presentation specific for work for which will be given individual feedback. At the end of the course, participants will know exactly how to tackle their next communication challenge.
The overall 12-hour course covers specific topics like:
- Communication patterns/models, types of behavior/learning
- Verbal, non-verbal and written communication skills
- Virtual communication
- Presentation (as if “on stage“ and “on screen”) skills
- Discussion & Negotiation
During the web session, the participants will learn to:
- Communicate effectively a clear message to any stakeholder
- Make sure that the message is being understood (Make the „complicated“ „easy-to– understand“ to non-actuaries)
- Structure their thoughts and findings in an effective way
- Recognize which patterns/words can have the best impact for which target group
- Practice in writing, in role plays and in presenting
- Participate/lead discussions and negotiations effectively
- Use their voice in a healthy and stable way
- Increase the chance of achieving their objectives with their work
- Come across as credible, confident and constructive business partners
Web Session 'CERA, Module 0: A Refresher Course in Financial Mathematics and Risk Measurement'
on 1/2 December 2025 | 9:00-15:45 CET
The European Actuarial Academy is one of the main providers of actuarial education – especially when it comes to Enterprise Risk Management (ERM). The concept of ERM has gained significant momentum in the insurance industry and beyond.
We offer a series of four training courses and exams (through DAV) to all actuaries who want to deepen their knowledge in Enterprise Risk Management and gain the international ERM-credential CERA.
The web session ‘A Refresher Course in Financial Mathematics’ gives an introduction to modern financial mathematics and derivative pricing. It is designed to prepare actuaries without adequate training in these fields for the quantitative parts of the CERA education. The web session is moreover an ideal learning opportunity for actuaries who want to become acquainted with or refresh their knowledge in these highly relevant fields.
The online course begins with a repetition of basic concepts in probability theory including characteristics of random variables such as moments and quantiles. In order to prepare the analysis of dynamic financial models we introduce the idea of conditional expectations and we discuss stochastic processes in discrete time. The online session continues with an introduction to financial mathematics. We study risk neutral valuation and the hedging of derivatives in discrete-time models.
The last part of the web session is devoted to an introduction to financial mathematics in continuous time. Topics covered include stochastic processes in continuous time such as Brownian motion and the Ito formula, the Black Scholes model and the Greeks very basic term structure models and the pricing and hedging of simple stock and bond options. The web session consists of lectures interspersed by short exercise sessions where participants can apply the probabilistic techniques hands-on.
Online Conference 'EAA's Anniversary Conference: Celebrating 20 Years of Advancing Actuarial Knowledge'
on 4 December 2025 | 10:00-17:15 CET
This year, we are proud to celebrate our 20th anniversary. To mark this milestone, we are hosting the EAA Anniversary Conference. A full-day online event, free of charge for the entire actuarial community. Together, we will celebrate two decades of collaboration, growth and learning.
This special event brings together voices from our network: national actuarial associations, lecturers, actuarial umbrella organisations, our founding associations, and, of course, our participants & partners. It’s both a moment to look back at our journey and a chance to explore the topics that will shape the actuarial profession in the years to come.
Web Session 'GenAI Beyond the Basics: Advanced Concepts for Actuaries'
on 10 December 2025 | 10:00-12:00 CET
Generative AI (GenAI) tools, such as ChatGPT, are rapidly reshaping the way actuaries approach problem-solving, analysis, and communication. Beyond their familiar web-based interfaces, these tools offer powerful functionalities through programmatic integration, which allows users to directly access and interact with the underlying Large Language Models (LLMs) via APIs (Application Programming Interfaces). Unlike standard web-based interactions, API access enables actuaries to seamlessly integrate GenAI into their existing workflows and scale usage efficiently to handle larger volumes. In this two-hour web session, participants will experience live demonstrations of advanced GenAI concepts through a Jupyter notebook that presents each concept and applies it to actuarial use cases; the notebook will be shared with attendees to encourage experimentation and support adoption in their own actuarial workflows.
After introducing the basics of using LLMs through APIs, we will explore the following advanced GenAI concepts:
- Structured Outputs: Generating responses in structured formats like JSON to support easier and more reliable downstream processing.
- Function Calling: Enabling LLMs to execute predefined functions, such as calculations or database queries, to perform specific operations.
- Fine-Tuning: Customizing pretrained LLMs with domain-specific data to improve accuracy and relevance in generating responses.
- Retrieval-Augmented Generation (RAG): Combining LLMs with external data sources to produce contextually enriched outputs.
For each concept, the session will cover its purpose, underlying principles, and functionality, illustrated through a dedicated actuarial use case and complemented by further applications and resources. It will conclude with a forward-looking outlook on emerging developments, followed by an open Q&A and discussion.