This paper presents Tyche, a Python library to facilitate probabilistic reasoning in uncertain worlds through the construction, querying, and learning of belief models. Tyche uses aleatoric description logic (ADL), which provides computational advantages in its evaluation over other description logics. Tyche belief models can be succinctly created by defining classes of individuals, the probabilistic beliefs about them (concepts), and the probabilistic relationships between them (roles). We also introduce a method of observation propagation to facilitate learning from complex ADL observations. A demonstration of Tyche to predict the author of anonymised messages, and to extract author writing tendencies from anonymised messages, is provided. Tyche has the potential to assist in the development of expert systems, knowledge extraction systems, and agents to play games with incomplete and probabilistic information.

TYSONS, Va.--(BUSINESS WIRE)--QOMPLX, a leader in cloud-native risk analytics, has entered into a definitive agreement to acquire RPC Tyche LLP ("Tyche"), a rapidly growing insurance software modeling and consulting firm based in London, Cambridge, Paris and Chicago. Tyche bolsters QOMPLX's insurance analytics offerings, and the combined business will offer more comprehensive insurance underwriting, pricing, risk modeling, capital modeling, and reserving functionality. It is an exceptional software business that combines innovative technology with actuarial expertise to help reduce the time and costs that insurers, reinsurers and intermediaries face in producing actionable data feeding today's commercial and regulatory decision-making. Tyche and QOMPLX's combined team are building the insurance data factory of the future with superior capabilities for data integration, transformation, analysis, and contextualization for corporations, employees, and consumers. Tyche's core modeling platform focuses on the complex challenges facing insurers: pricing risks, modeling and reserving capital, and improving efficiency.

Over the past five years, we have witnessed substantial startup activity across a broad range of financial services sectors, with fintech funding overall surging from $2.2B in 2011 to $14.4B in 2015 (per CB Insights). Until recently, one of the sub-sectors of financial services that has been somewhat outside of this trend has been property & casualty insurance, which is a multi-trillion global industry and growing. That is now beginning to change as VC investments in insuretech (technology based solutions for insurance) has grown from $130M in 2011 to $1.7B by the end of 2015 (per CB Insights). Building on this momentum, Oliver Wyman sponsored the inaugural InsureTech Connect conference (October 4th – 6th in Las Vegas) bringing together industry incumbents, innovators, and investors to discuss how new technologies -- ranging from big data and online marketplaces to drones and artificial intelligence -- may reshape the insurance industry. At Omidyar Technology Ventures, we are particularly excited about the potential impact of artificial intelligence ("AI") on insurance.