Actuarial Service System

Actuarial Science is a field based almost entirely on “crunching numbers” and using formulas to make predictions. According to the Bureau of Labor Statistics, employment of actuaries is predicted to go by by 22% between 2016 and 2026. Computers are essentially built to perform calculations, and with recent advances in technology, using machine learning to make predictions based on calculations of previous risk statistics. Currently, there are no public software solutions that provide actuarial services.

About

Actuaries are paid a median income exceeding $90K per year. By creating a software that could do the same work as an actuary, insurance companies could then lower their rates to more affordable levels for the general population.

The calculations and predictions made by actuaries can be done using Python, R, or MATLAB. The team will continue to look into the best course of action as far as which language and tools (such as Tensorflow or Amazon Polly). The team intends to further look into the development of this software between March and May of 2018.

The team also intends to create a low-cost solution for insurance companies to calculate risk versus cost using machine learning algorithms.

Team

Jose Angeles

I am a fourth year student at Stevens Institute of Technology pursuing a Bachelors of Engineering in Electrical Engineering. I am an active member of various organizations on campus with the goals ranging from professional development to bridging the gap between minorities in STEM fields.

Athina Cordero

I am currently a junior (3/4) here at Stevens, majoring in Computer Engineering with a concentration in Software Engineering. As far as extra-curricular involvements, I am a member of the Society of Hispanic Professional Engineers, the Stevens Bowling Team, and Sigma Delta Tau sorority.

Xavier Rosario

I am currently a 4/5 Computer Engineering major at Stevens Institute of Technology. My interests include programming, leadership development and mentor ship. I am involved in the Society of Hispanic Professional Engineers, leadership and academic honor societies and cultural societies on campus.

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