Jeff Moore from General Electric and Greg Spraker from SAS (see my review of the SAS Warranty product here) spoke on using analytics to find and eliminate fraud in claims. GE’s appliance division dealt with paper claims prior to 2003 and randomly selecting claims for audit. Between 2003 and 2005 they increased the number of [...]
predictve analytics
I was struck by an article on Insurance and Technology titled All Predictive Models Are Wrong. Now, while this is a true statement (more or less) it reminds me of a famous Winston Churchil quote: It has been said that democracy is the worst form of government except all the others that have been tried. [...]
[amazonify]1400063515:right[/amazonify][amazonify]1400063515::text::::The Black Swan: The Impact of the Highly Improbable[/amazonify] I have just finished reading Nassim Nicholas Taleb’s book – The Black Swan: The Impact of the Highly Improbable. NNT (as he calls himself) has some fascinating points and some interesting turns of phrase, though he does rather go on and on and on…. Leaving aside [...]
[amazonify]1422103323:right[/amazonify][amazonify]1422103323::text::::Competing on Analytics: The New Science of Winning[/amazonify] by Tom Davenport and Jeanne Harris Tom and Jeanne have written a new book (building on a paper they wrote some time ago) about what they call “analytic competitors”, that is to say companies that use their analytic prowess not just to enhance their operations but as [...]
[amazonify]0316172324:right[/amazonify][amazonify]0316172324::text::::Blink: The Power of Thinking Without Thinking[/amazonify] The book is an easy read and full of wonderful stories and vignettes that illustrate Malcolm’s points. Essentially the book is about how people make rapid decisions, often before consciously processing the available data, and the good and bad consequences of this. We are all familiar with some [...]
