Dishing on Data – Advice from Data Scientists on How to Leverage Traditional and Non-Traditional Data Sources
The pandemic helped to escalate the share of claims that are filed with photos and police diagrams.
In life insurance, measuring prospective customers by one dimension alone can lead to highly inaccurate results.
Combing claims data with weather information can help insurers more quickly forecast loss and evaluate risk.
Insurers are wrapping their analysis in layers of data, including bankruptcy information, judgments and more.
Insurers need to scrub data for bias, determine accuracy and look for missing elements.