The use of predictive modeling has forever changed the way insurance policies are priced. The revolutionary tool allows insurers to design ever-more-sophisticated models that tap ever-more-detailed data sets to refine precisely how much each customer should be charged.
Casualty actuaries got an overview of how far the revolution has come and how it will continue to change insurance pricing at the session “The Revolution and Evolution of Predictive Modeling” presented at the Casualty Actuarial Society Spring Meeting, in Phoenix recently. Read more...
(Ref: Insurance Journal , June 18, 2012)
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