Predictive Analytics

Organized Insurance Fraud: Florida Leads Top 10

Questionable claims from organized fraud have surged over the past few years. Despite an 11 percent dip from 2010 to 2011, overall activity rose 47 percent from 2008 to 2011, according to the Insurance Information...

Adopting Advanced Analytics: Consider the True Business Implications

Property/casualty insurers have long been engaged in a fierce battle for market share across all lines of insurance — from personal and commercial auto and property policies to workers' compensation and general...

The Cost of Opportunity

Last month, my colleague David Cummings and I contributed an article to CarrierManagement.com titled Analyzing Analytics: When Does Value of Predictive Modeling Outweigh Expense? It’s become clear that personal lines...

Seven ISO Experts to Speak at Upcoming CAS Seminar

The CAS Ratemaking and Product Management (RPM) Seminar — scheduled for March 11 to 13 in Huntington Beach, California — will feature as speakers and moderators seven actuarial experts from ISO. Among them is David...

Claims Modernization: Are You Prepared for Emerging Risks?

New risks and claims scenarios are routine in the insurance industry today. For the claims department, that means being able to understand new factors that contribute to a loss. New risks also involve new ways scammer...

Claims Modernization: Big Data, Big Opportunity

For many claims departments, the problem isn’t data — rather, the challenge is what to do with it. Insurance companies, for years, have become adept at generating data suited for further analysis and insight. However,...

Claims Modernization: Time to Get Ready

Many insurance companies claim they are planning to update their claims systems over the next three years, opening a wide range of important decisions they’ll need to make in the near term. From streamlining the claim...

Insurance Claims Analysis: Your Own Data Isn’t Enough

Most proactive claims management tools — from business processing rule engines to SIU claim identification systems — focus only on insurers’ own data. After all, what else do carriers have access to? While this approa...

Predictive analytics: Changing the way insurers think about their homeowners risks

There was a time when homeowners underwriting and rating basically followed the old adage "a house is a house is a house." But over the past ten years or so, the homeowners market has grown increasingly concentrated,...

What are the modules in ISO Risk Analyzer Homeowners?

ISO Risk Analyzer Homeowners is a suite of predictive models that help insurers classify and segment risks. We offer the product in several modules. The first — the environmental module — produces expected loss costs...