PartnerRe’s analytics experts evaluated the Life predictive model, LexisNexis® Risk Classifier with Medical Data. Here we present the results of our objective and detailed review of the model.
Body mass index is an important driver of risk class and stands as the second largest concern for misrepresentation in accelerated underwriting after smoking non-disclosure.
There are few things that contribute more to building an appreciation for different roles than sitting in someone else’s shoes.
Lest anyone think the previous exchange is fanciful or seems a bit paranoid, it is already happening. It is known as using accelerated underwriting using external data and over two dozen U.S. insurers are currently using it.
More and more often, algorithms mediate social processes, business transactions, governmental decisions, and how we perceive, understand, and interact among ourselves and with the environment. Gaps between the design and operation of algorithms and our understanding of their ethical implications can have severe consequences affecting individuals as well as groups and whole societies.
The Life Predictive Analytics Survey Report from Willis Towers Watson
RGA's Marc Sofer, Head of Data and Strategic Analytics, Asian Markets, discusses how the newest data sets, together with existing data and novel analytics, are impacting the industry’s growth and development.
RGA shares basic steps insurers can take to prevent overfitting for more accurate predictive models.
Congress may have forced Mark Zuckerberg to reveal more about personal data gathered on Facebook (FB). But consider this: Your insurance company likely knows a lot more about you.
The controversy surrounding the political consulting firm Cambridge Analytica’s use of personal data harvested from social media accounts without the users’ permission is among the first of what likely will be a long series of public debates about how the use of “big data” can shape our lives. And one of the most obvious battlegrounds where we should expect such fights to play out soon is in the insurance industry.
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