Remove Insurance Remove Modeling Remove Predictive Modeling Remove Risk
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Is Artificial Intelligence relevant to insurance?

IBM Big Data Hub

In this first of two posts, I investigate the anatomy of artificial intelligence and its impact on insurance. The early versions of AI were capable of predictive modelling (e.g., The four categories of predictive modelling, robotics, speech and image recognition are collectively known as algorithm-based AI or Discriminative AI.

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What is Model Risk and Why Does it Matter?

DataRobot Blog

With the big data revolution of recent years, predictive models are being rapidly integrated into more and more business processes. This provides a great amount of benefit, but it also exposes institutions to greater risk and consequent exposure to operational losses. What is a model?

Risk 111
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What to Do When AI Fails

O'Reilly on Data

This article answers these questions, based on our combined experience as both a lawyer and a data scientist responding to cybersecurity incidents, crafting legal frameworks to manage the risks of AI, and building sophisticated interpretable models to mitigate risk. All predictive models are wrong at times?—just

Risk 362
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Think Big – Applying Analytics to Injury Claims Is the Next Challenge for Law Firms

Smart Data Collective

When the risk of recurrence for a malpractice case is high, for example, they can convince the judge to be more generous in rewarding the client. The impact of predictive modelling on personal injury cases. Predictive modelling is a technology that evolved together with big data analytics.

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80% of insurance carriers aren’t delivering high impact analytics. Here’s how you can do better.

Decision Management Solutions

80% of data and analytics leaders with global life insurance and property & casualty carriers surveyed by McKinsey reported that their analytics investments are not delivering high impact. ” They analyze the data available and try to see what analytic models it contains. What’s stopping them from delivering high impact?

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What is data analytics? Analyzing and managing data for decisions

CIO Business Intelligence

Data analytics draws from a range of disciplines — including computer programming, mathematics, and statistics — to perform analysis on data in an effort to describe, predict, and improve performance. Predictive analytics is often considered a type of “advanced analytics,” and frequently depends on machine learning and/or deep learning.

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20 for 20: IRM Critical Capabilities & Top 20 Functions / Features

John Wheeler

We continue our “20 for 20” theme this year by highlighting the integrated risk management (IRM) critical capabilities and top 20 software functions / features. These five capabilities support both integrated view of strategic, operational and technology risk as well as the related business outcomes, processes and assets.