Microsimulation Modelling - Bridging to a Better Tomorrow

Submitted by: Titus Rotich - Kenya

Traditionally, actuaries work in insurance companies where they use mathematical statistics and probability to measure and manage risks. However, actuaries can apply their expertise in other fields, such as health economics. One such area is the development, calibration and application of microsimulation models in modelling health outcomes. Here, actuaries can apply their skills in estimating and producing stochastic projections. This would help policymakers in assessing the impact of different interventions.