Actuarial Open Source

A community of actuaries and developers building open source actuarial software.

Insurance software for everybody

Why the insurance industry needs to be more open source

Problems with closed source actuarial software

  • Integrates poorly with modern IT infrastructure.
    • Trouble integrating with Git.
    • Trouble integrating with Docker.
    • Trouble integrating with Airflow.
  • Trouble reproducing results.
    • Results from various proprietary software systems are combined in manual processes. If tasked with replicating a calculation from data to assumptions through the modeling process, significant amounts of labor would be required.
  • No transparency for the general public.
    • Policyholders are unable to perform their own investigations on the financial models that they rely on for their financial wellbeing.

Benefits of open source

  • Integrates well with modern paradigms in IT infrastructure.
  • We can use the learnings from Machine Learning Operations (MLOps) to increase the level of automation while enhancing reproducibility and logging.
  • Policyholders can run the actuarial models that they rely on.

Our work

We develop open source software and perform original research. Here are some of the things we're doing now -

  • Running large scale simulations in the cloud using Google's JAX library for GPU/AI computing.
  • Strive to implement best practices for MLOps.

What people are saying about open source

Open source is about collaborating; not competing.
Kelsey Hightower, principal engineer for Google Cloud
In real open source, you have the right to control your own destiny.
Linus Torvalds, creator of Linux
Certainly there's a phenomenon around open source. You know free software will be a vibrant area. There will be a lot of neat things that get done there.
Bill Gates, founder of Microsoft
Once open source gets good enough, competing with it would be insane.
Larry Ellison, founder of Oracle
Empowerment of individuals is a key part of what makes open source work, since in the end, innovations tend to come from small groups, not from large, structured efforts.
Tim O'Reilly, founder of O'Reilly Media
Microsoft was on the wrong side of history when open source exploded at the beginning of the century ... The good news is that, if life is long enough, you can learn that you need to change.
Brad Smith, Microsoft's president and vice chair