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GET BETTER ACQUAINTED WITH YOUR KNOWN UNKNOWNS
UNKNOWNS Uncertainty of a predictive model is a fact of life that many insurers could be overlooking at their ... predictions to the number of heads expected. A mortality analysis case study illustrates how the Bayesian ...- Authors: Dan Kim, Boyang Meng
- Date: Apr 2020
- Competency: Results-Oriented Solutions
- Publication Name: Predictive Analytics and Futurism Newsletter
- Topics: Experience Studies & Data>Mortality; Predictive Analytics>Modeling techniques; Predictive Analytics>Quality control & model governance
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When Affordability Savings Do Not Reduce Costs
“Household Component of the Medical Expenditure Panel Survey,” HC-070 (2002), HC-079 (2003), and HC-080 (Panel ... in the first weeks of life, but live a relatively healthy second year of life; a severe burn is unlikely ...- Authors: Tony Pistilli
- Date: Dec 2020
- Competency: Results-Oriented Solutions; Technical Skills & Analytical Problem Solving
- Publication Name: Health Watch
- Topics: Modeling & Statistical Methods>Forecasting; Modeling & Statistical Methods>Regression analysis; Predictive Analytics>Modeling techniques; Predictive Analytics>Quality control & model governance
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Gaining Trust in Predictive Models—an Actuarial Perspective
body mass index (BMI) are significant in predicting life insurance risk classes. Figure 4 Illustrative Example ... sense. A predictive model that predicts negative mortality clearly is not conceptually sound. Finally, the ...- Authors: David Alison FSA (David)
- Date: Sep 2021
- Competency: Communication; External Forces & Industry Knowledge; Results-Oriented Solutions; Strategic Insight and Integration; Technical Skills & Analytical Problem Solving
- Publication Name: The Financial Reporter
- Topics: Predictive Analytics>Modeling techniques; Predictive Analytics>Quality control & model governance; Technology & Applications>Artificial intelligence & machine learning