We've all heard it- 'a model is only as good as its data.' This rings especially true in the era of predictive analytics, which brings new and powerful ways of analyzing our data in the insurance space. But in order to glean insights, we first need to know where to look for the data! Company data is a common place to start, but we will miss out if we don't also turn to the industry data available in many different places. Come hear several vignettes of how data was found and used to solve different actuarial business problems, including pricing using predictive analytics, building underwriting algorithms, and assessing market competition. At the end of the session, attendees will be invited to give a two-minute description of how they found and used industry data to solve their unique business problems.
By attending the session, you will be able to:
- Find and leverage industry data to support pricing using predictive analytics, external data to support algorithmic underwriting, and company statutory filings to support competitive intelligence and market analysis.
TRACK: Spearheading innovation through change, Cultivating future opportunities