Artificial intelligence: the NAS has a role to play in equipping its members —Omosehin

THE Commissioner For Insurance And CEO of THE National Insurance Commission (NAICOM), Olusegun Omosehin has said that Nigerian Actuarial science Company (NAS) has A vital role has play In equipment It is members with to access has THE necessary SKILLS has navigate THE world of Artificial intelligence (AI).

Omosehin, WHO declared This has THE 2024 annual industry conference of THE Company detained In Lagos, note that THE pace has which AI East evolution means that actuaries to have has continuously evolve And develop skill sets that to use AI And other machine learning tools Or risk be LEFT behind.

Represented by THE Deputy Commissioner For Insurance, Omosehin note that THE conference, with THE theme, “Actuaries And AI: Strengths, Opportunities, Weaknesses And Threats,' was timely And crucial as he Perfectly capture A exciting Again critical conversation necessary has present.

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He said: "As We gather here Today, THE world East experiment A significant transformation, led by technological advances And data revolution. THE financial sector, In particular, East has THE indicate of A significant change, with artificial intelligence (AI) ready has revolutionize THE path We to drive company.

"As THE Nigerian insurance industry keep on going has evolve, THE intersection of actuarial science And AI present A unique opportunity has further to use THE power of technology has shape THE future of insurance In Nigeria. »

Omosehin note that actuaries play A critical role In risk assessment, price, And financial stability using advance techniques such as data science And predictive analytic has analyze complex data And TO DO informed the decisions, add that THE occupation has become more and more important In A data driven world, with actuaries In high request through miscellaneous economic sectors.

He Underlines that THE pace has which AI East evolution means that actuaries to have has Also continuously evolve And develop skill sets that to use AI And other machine learning tools Or risk be LEFT behind.

He further declared, "In THE changing landscape, using AI For vast data analysis will be common place. This will enable actuaries dig Deeper In big data; discover knowledge, And development more accurate risk price models And innovative insurance some products For THE Nigerian population.

“AI would be easily be instrumental In THE emerging Insurance Technology landscape And financial inclusion by allow THE development of microinsurance solutions that answer has THE underserved population, Insurance Technology AI subscription, etc."

According to has him, "As A insurance industry regulator, We believe that This East THE time has to strenghten OUR collaborative efforts has ensure responsible AI adoption In order has maximize THE strength And opportunities of Actuaries And AI".

Omosehin reiterated that NAICOM East concerned about THE current inadequate professionally qualified actuaries In THE insurance industry In Nigeria, And East engaged has proof all initiatives And developments that are likely has facilitate actuarial ability development has enable THE Nigerian insurance industry to access qualified actuaries.

"This East part of THE the reasons We, has THE Commission, are excited about THE outlook AI brought has THE actuarial occupation In Nigeria," Omosehin stressed.

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Keywords: Artificial intelligence membersNAS