December 18, 2012 – Many CEOs hesitate to embrace predictive analytics out of concern over the time and expense of launching the models, according to a panel of high-ranking actuaries and executives at the annual meeting of the Casualty Actuarial Society. The panel presented ideas for educating and encouraging CEOs to press forward with such projects during a presentation entitled “What Executives Need to Know about Predictive Modeling.”
“Executives are becoming info-holics,” said Martin Ellingsworth, president of the ISO Innovative Analytics (IIA) unit at ISO, and actuarial professionals and predictive modelers increasingly are aligned with business leaders to improve insurance operations in marketing, risk assessment, rating, underwriting, claims, agent/customer service, catastrophe analytics, and capital-risk management, to reduce the uncertainty around the carriers’ financial performance, he said.
Register or login for access to this item and much more
All Information Management content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access