Random Forest in Actuarial Practice, followed by Q&A

Random forest is a widely used machine learning model. Due to its simplicity of use, it could be a useful model for actuarial topics in some cases compared to other methods.

In this session, we will discuss the following topics to explore the potential applications of random forests, touching upon previous researches:

• Useful properties of random forest
• Comparison with other machine learning models
• Potential applications of random forest in actuarial practice
• Potential issues of random forest in actuarial practice
• (Prediction error estimation by random forest)