At SHMA Consulting, we are excited to announce the launch of the DiiA program. DiiA stands for Data, Intelligence, Innovation, and Analytics, and is an initiative that aims to enhance the data analytics capacity of all staff members by developing the right tools, processes, and ecosystem. This will allow us to bring more efficiency, intelligence, and innovation to our analysis. We are inviting all actuarial staff and data enthusiasts at SHMA to collaborate and work together on this initiative.

The DiiA initiative has several objectives in the short and medium term. Firstly, we aim to enhance the data culture at SHMA by developing a process for Data Extraction, Transformation, and Loading (ETL) that reflects global best practices. Additionally, we will focus on developing best-in-class data repositories to allow for more efficient storage, processing, retrieval, and integration of data currently used at SHMA. We will also develop processes and expertise for Exploratory Data Analysis, which will produce a more refined data set for future actuarial and non-actuarial analysis.

Secondly, we will target the automation of several processes and analyses currently performed manually at SHMA. A considerable proportion of such analysis requires minimal human intervention and can be automated. This will include existing and future analyses carried out within the insurance and retirement functions.

Thirdly, the DiiA initiative will seek to develop smart business intelligence solutions for internal and external use. This will enhance the visibility, analysis, and presentation of data used at SHMA, eventually leading to developing better insights and results produced using such data sets.

Lastly, we aim to streamline and make more efficient use of the ‘Predictive Analytics’ capabilities already available at SHMA while developing machine learning capabilities to broaden the analytical skill set at SHMA. The skills expected to be developed in achieving such objectives will allow SHMA to make significant progress in all aspects of Data Science.

To achieve these objectives, we will make use of state-of-the-art technology. The DiiA initiative will roll out multiple projects and tasks over the next few months, and we are asking all actuarial staff and data enthusiasts at SHMA to collaborate and work together on this project. We are confident that the expertise and insights of our staff will be invaluable in achieving the DiiA objectives.

While there is no specific date by which staff members are required to express their interest in the DiiA project, the actual collaboration will be based on a number of considerations, including timing of expression of interest (first come, first served basis), the number of tasks initiated by the DiiA, the relevance of the staff member’s interest and expertise to the task initiated, and approval by their respective supervisor.

We are excited to receive feedback and suggestions on any aspect of the DiiA project discussed. At SHMA, we believe that this initiative will enhance our data analytics capacity and allow us to bring more efficiency, intelligence, and innovation to our analysis.