AI Use Case
Lower the loss ratio for insurance companies through portfolio management
Lower the loss ratio for insurance companies through portfolio management. Note that the traditional insurance approach to portfolio management is under increased risk from data-heavy machine learning which will deliver increasingly accurate individualised risk pricing.
Cost - Optimise resource allocation
Insurance Company Anonymous~An Anonymous UK Insurance firm demonstrates that it can better assess the risk of insuring companies by automatically determining relevant UK court cases with deep neural networks
Structured / Semi-structured
Algorithm - Boosted Regression Trees,Model Architecture - Decision Tree,Model Architecture - Deep Neural Networks,ML Task - Prediction - Binary Classification,ML Task - Prediction - Regression,Algorithm - Linear Regression,Model Architecture - Gradient boosting,ML Task - Action Selection - Reinforcement Learning ,Machine Learning (ML),Model Architecture - Support Vector Machine (SVM),Algorithm - K-Nearest Neighbour,ML Task - Grouping - Clustering,Model Architecture - Random Forest,Traditional AI,Algorithm - Random Forest