Predictive Modeling for Actuaries: Innovation in Underwriting
Session 174 Panel Discussion
Wednesday, October 14 10:15 - 11:30 a.m.
Session Sponsor: Society of Actuaries
Moderator: Kevin Pledge
Presenters: Derek Kueker (RGA), Barry Senensky (Claim Analytics), Stephen Cooley (Aurigen Re)
Insurers are constantly looking for ways to improve underwriting, whether it be to improve results, faster issue times or less invasive questioning. They have a broad range of data sources available including prescription records, motor vehicle, public records, marketing data and credit records. Not all sources are equally effective and available, and they come at a cost. Which data sources is best for a particular situation, market or product? How do you assess the effectiveness of alternative data?
The presenters will give an overview of alternative data available and when these may be applicable.
They will describe how predictive modeling can be used to test the effectiveness of underwriting and discuss examples of where this has been used.
You can’t miss this session if your underwriters are thinking of using alternative data sources in their underwriting practices.
At the conclusion of the session, attendees will be able to understand alternative data options available and how to apply predictive modeling to the design and development of innovative underwriting practices.
You may also be interested in one or more of the other Predictive Modeling for Actuaries sessions:
This session will qualify for 1.50 CPD credits.
A copy of the presentation can be found here.