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I am working in a small Actuarial Management Consulting company. We have been using Excel for most of our work which include reserving and pricing. Our database for large data sets is SQL Server.

We need a software system to automate most redundant tasks like making reserving triangles and calculation of exposures and earned premiums. In addition we need to expand into data science tasks as well.

Can someone recommend some software for us. We need to spend money to buy premium software as all of our senior actuaries are not programmers. Is there any software that do these tasks out of the box or with pure interactive GUI (with absolutely no programming or at most SQL like programming).

Thanks

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Most data science seems to be using either python or R. Both are free but have somewhat steep learning curves. There are plenty of tutorials for both. R is often run using R-studio, a gui wrapper from R. Info on R and R-Studio is found here.R-Studio.

Tableu offers a commercial package which simplifies many tasks such as filtering data, making histograms and plotting data. Very nice package but not cheap. You can learn more about Tableu here.

  • Money is no problem. Tableu is nice but Alteryx was been suggested to us. How do they compare? – user13892 Jan 28 '18 at 9:58
  • I'm not familiar with Alteryx so I can't compare them. Tableu offers a free trial period of 20 days, I think, to evaluate the project. Maybe Alteryx does as well. I'd try to compare them to see which is best for you. – jmh Jan 28 '18 at 18:27
  • jmh did you get the chance to compare them? – user13892 Feb 2 '18 at 11:29
  • not yet but soon I hope. – jmh Feb 2 '18 at 17:10
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Personally I would suggest taking a look at what can be done with the combination of Python, Pandas & Jupyter - all are free, (gratis & open source) and cross platform. They willl allow you to do everything that you have mentioned in your question but will require some learning on your part.

There are a large number of books, tutorials, courses and help groups available for this combination of tools including of course the Stack Overflow communities, i.e. >60,000 items tagged pandas.

The following resources come highly recommended:

With a little learning and some work you can create notebooks that perform your analysis and present them in pdf format or as slideshows as well as being able to interactively explore your data.

  • Thank you but we don't want programming. (I have also modified my original question). Any other suggestions. – user13892 Jan 28 '18 at 9:57

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