Research on Probability-based Learning Application on Car Insurance Data
Longhao Jing, Wenjing Zhao, Karthik Sharma, Runhua Feng · 2018
After entering the big data era, there is an increasing demand on data analysis.It is natural for the modern actuary to question tech buzzwords like "machine learning" and "data analytics."In reality, many machine-learning models have a basis in the very concepts, which actuaries have used to assess risk for a long time.We refer to the machine learning techniques that deal most explicitly with probabilities and risks as probability-based learning, and will focus on applying probability-base learning models on a set of car insurance data to create an artificial intelligence to accelerate the underwriting process for property and casualty insurance pricing.