Julia for Actuaries: Julia’s Potential for the Insurance Sector

By: Jasmine Chokshi

Re-posted from: https://info.juliahub.com/blog/julia-for-actuaries

Julia, a high-performance language, revolutionizes actuarial workflows for insurance tasks.

The insurance sector thrives on complex data analysis and modeling. Actuaries play an important role in working with complex mathematical models to assess risk, price products, and manage financial reserves.  As actuarial science and processes evolve and move out of the “Spreadsheet Era” they are increasingly looking to programming languages and tools that can build and implement great solutions. The choice of tools and programming languages can greatly impact the performance and productivity of actuaries. Julia, a powerful language, is fast gaining traction owing to its speed, expressiveness, and flexibility.