NLP-Powered Repository and Search Engine for Academic Papers: A Case Study on Cyber Risk Literature with CyLit

As the body of academic literature continues to grow, researchers face increasing difficulties in effectively searching for relevant resources. Existing databases and search engines often fall short of providing a comprehensive and contextually relevant collection of academic literature. To address this issue, we propose a novel framework that leverages Natural Language Processing (NLP) techniques. This framework automates the retrieval, summarization, and clustering of academic literature within a specific research domain. To demonstrate the effectiveness of our approach, we introduce CyLit, an NLP-powered repository specifically designed for the cyber risk literature. CyLit empowers researchers by providing access to context-specific resources and enabling the tracking of trends in the dynamic and rapidly evolving field of cyber risk. Through the automatic processing of large volumes of data, our NLP-powered solution significantly enhances the efficiency and specificity of academic literature searches. We compare the literature categorization results of CyLit to those presented in survey papers or generated by ChatGPT, highlighting the distinctive insights this tool provides into cyber risk research literature. Using NLP techniques, we aim to revolutionize the way researchers discover, analyze, and utilize academic resources, ultimately fostering advancements in various domains of knowledge.

Automated Machine Learning in Insurance

Machine Learning (ML) has gained popularity in actuarial research and insurance industrial applications. However, the performance of most ML tasks heavily depends on data preprocessing, model selection, and hyperparameter optimization, which are considered to be intensive in terms of domain knowledge, experience, and manual labor. Automated Machine Learning (AutoML) aims to automatically complete the full life-cycle of ML tasks and provides state-of-the-art ML models without human intervention or supervision. This paper introduces an AutoML workflow that allows users without domain knowledge or prior experience to achieve robust and effortless ML deployment by writing only a few lines of code. This proposed AutoML is specifically tailored for the insurance application, with features like the balancing step in data preprocessing, ensemble pipelines, and customized loss functions. These features are designed to address the unique challenges of the insurance domain, including the imbalanced nature of common insurance datasets. The full code and documentation are available on the GitHub repository. (https://github.com/PanyiDong/InsurAutoML)

Privacy-Enhancing Collaborative Information Sharing through Federated Learning -- A Case of the Insurance Industry

The report demonstrates the benefits (in terms of improved claims loss modeling) of harnessing the value of Federated Learning (FL) to learn a single model across multiple insurance industry datasets without requiring the datasets themselves to be shared from one company to another. The application of FL addresses two of the most pressing concerns: limited data volume and data variety, which are caused by privacy concerns, the rarity of claim events, the lack of informative rating factors, etc.. During each round of FL, collaborators compute improvements on the model using their local private data, and these insights are combined to update a global model. Such aggregation of insights allows for an increase to the effectiveness in forecasting claims losses compared to models individually trained at each collaborator. Critically, this approach enables machine learning collaboration without the need for raw data to leave the compute infrastructure of each respective data owner. Additionally, the open-source framework, OpenFL, that is used in our experiments is designed so that it can be run using confidential computing as well as with additional algorithmic protections against leakage of information via the shared model updates. In such a way, FL is implemented as a privacy-enhancing collaborative learning technique that addresses the challenges posed by the sensitivity and privacy of data in traditional machine learning solutions. This paper's application of FL can also be expanded to other areas including fraud detection, catastrophe modeling, etc., that have a similar need to incorporate data privacy into machine learning collaborations. Our framework and empirical results provide a foundation for future collaborations among insurers, regulators, academic researchers, and InsurTech experts.