Abstract
This paper provides an accessible account of potential pitfalls in the use of predictive models in property and casualty insurance. With a series of entertaining vignettes, it illustrates what can go wrong.
The paper should leave the reader with a better appreciation of when predictive modeling is the tool of choice and when it needs to be used with caution.
Keywords: Predictive modeling, GLM
Volume
Spring
Page
1-21
Year
2016
Keywords
predictive analytics
Categories
Financial and Statistical Methods
Statistical Models and Methods
Generalized Linear Modeling
Financial and Statistical Methods
Statistical Models and Methods
Predictive Modeling
Actuarial Applications and Methodologies
Ratemaking
Publications
Casualty Actuarial Society E-Forum
