Data Science in Risk Underwriting and Pricing: Challenges and Opportunities
Friday, April 27, 2018 - 1:25pm - 2:25pm
Underwriting and pricing are a core piece of every insurance company. Poor underwriting and inadequate pricing can have drastic consequences on the financial soundness of an insurer.These consequences may range from poor profitability to insolvency. In this talk, we describe the benefits and challenges pertaining to the use of data and analytics in insurance underwriting and pricing. We focus on the ability of data and analytics to improve decision making, drive profitability and efficiency in the face of big data and new technologies.