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What happens when 150 actuarial students are handed industry data and asked to compete like startups in a simulated insurance market? At UNSW School of Risk and Actuarial Studies, this question was put to the test through a new initiative — the Actuarial Datathon.
Conceived as a learning innovation within the course Actuarial Data Science Applications, the Datathon explores how embedding a real-world case competition into the core curriculum can transform the way students engage with actuarial data science. Designed in collaboration with Fetch Pet Insurance, Finity Consulting, and AirTree Ventures, the inaugural UNSW Actuarial Datathon provided students with a dynamic platform to apply skills at the intersection of data science, communication, innovation and strategic decision-making.
But the Datathon wasn’t just a course assessment — it was a full-spectrum industry challenge. Students stepped into the roles of analysts, decision-makers and entrepreneurs, supported throughout by academic mentors and multiple industry partners. The experience reflected a broader shift in the profession: preparing future actuaries to navigate environments where data science is applied in fast-moving, ambiguous, and commercially complex contexts.
The initiative was introduced in Term 3, 2024, as part of ACTL4305/ACTL5305 Actuarial Data Science Applications, a data science capstone course offering Part II Data Science Principles exemption through the Actuaries Institute.
By embedding the challenge within a core accredited course, the Datathon bridges technical training with industry relevance, preparing students for modern careers in actuarial data science.
As a core, assessed component, it enables students to apply quantitative modelling and decision-making frameworks from the classroom to real-world business challenges under authentic constraints.
For this term’s challenge, students tackled the technical pricing of pet insurance using data provided by Fetch Pet Insurance , one of the program’s industry collaborators.
Working in teams styled as start-ups, they built interpretable risk pricing models, performed geographic and demographic segmentation and tested competitive strategies in a simulated open insurance market, featuring 35 mock providers and 10,000 virtual customers.
Building on the foundation and success of earlier UNSW Sandbox projects, the Datathon reimagines the model by engaging multiple industry partners around a single, cohesive challenge, rather than assigning one company to one project.
This multi-perspective approach enriches the learning experience and strengthens industry engagement:
This structure exposes students to diverse industry voices while maintaining focus and coherence across the class.
By centralising around a single project but diversifying the industry touchpoints, the approach ensures strong alignment with course learning outcomes and enables meaningful engagement from multiple partners throughout the process.
The Datathon was developed to not only enhance student learning but also deliver actionable insights to industry partners.
Phil Wilson-Brown, CEO of Fetch Pet Insurance, emphasised the dual purpose of the collaboration:
“We really wanted to find out what working with 150 students could tell us about our business that we could take into practice. We also wanted to give them a real opportunity to have a fun and great learning experience.”
Roel Verbelen, Senior Consultant of Finity Consulting and guest lecturer for the course added:
“Initiatives like the Datathon perfectly blend academic learning with real-world application, equipping students to tackle real-world challenges. I loved being part of this collaboration between academia and industry. It’s exciting to see how experiences like these are shaping the next wave of actuarial data science talent.”
The Datathon culminated in a pitch event hosted at AirTree Ventures, where students presented their work to a panel of industry partners and venture capital investors. A video featuring highlights from the event can be viewed here .
“Students were amazing,” said George Lewis, Co-Founder and Head of Product at Fetch. “Presentations were honestly as good as I've seen in years and years working in insurance.”
Tim Chung, another co-founder of Fetch, emphasised the depth of insight students brought.
“With pet insurance, one of the key problems is shifting from pricing risk to preventing it. Students did lots of data analysis and found lots of interesting things. We're definitely going to use it.”
Dan Coughlan an investor from AirTree Ventures added: “It was great to collaborate with the students and Fetch. As early-stage investors, we’re constantly impressed by the lateral thinking and agency that great builders can take. Some presentations went well beyond scope — hugely impressive.”
The UNSW Datathon provides a platform for students to showcase not only technical mastery, but also commercial acumen, communication skills and creative problem-solving, capabilities increasingly valued in today’s data-driven business environment.
By embedding applied analytics in a competitive, real-world context, the Datathon brings learning to life in ways that traditional assessments cannot replicate.
For students, the Datathon was more than just an assessment — it was the highlight of the course.
“I think the most beneficial part of this course was the Datathon assignment itself,” said one student. “The opportunity to implement all the theory and concepts from class in a real-world context was the best way to absorb these new ideas,” added another.
“Being able to see the practical applications of what we learned — that was the most valuable part.” These reflections, shared by students from ACTL4305 and ACTL5305, highlight the impact of experiential learning when paired with authentic, industry-connected challenges.
From an industry perspective, the Datathon offers a front-row seat to emerging talent and fresh thinking through multiple engagement points within a single, cohesive project.
It provides a unique opportunity to connect early with the next generation of actuaries and data professionals, pressure-test innovative ideas, and actively contribute to the shaping of actuarial education in ways that reflect the evolving demands of the profession.
The success of initiatives like the UNSW Datathon reflects a broader transformation in how the actuarial profession engages with real-world challenges.
Join the Actuaries Institute on Tuesday, 5 August for the Actuarial Hackathon Showcase to see how young actuarial teams have transformed real challenges into innovative solutions for five not-for-profit organisations after two months of collaborative research. Previous participants tackled challenges for RSPCA Australia, The Heart Foundation, and UNICEF Australia — from analysing cycling patterns and cancer data to forecasting animal rescue costs.
Like the Datathon, these initiatives demonstrate how actuarial skills translate beyond traditional insurance applications, showcasing emerging talent while generating actionable insights for positive social impact.
