Nielsen, Jens Perch
Machine Learning in Insurance
- ISBN 13:
- 9783039364473
- author:
- Nielsen, Jens Perch
- format:
- Hardback
- publisher:
- Mdpi AG
- language:
- English
- Publication Year:
- 2020
- Pages:
- 260
- Dimensions:
- 24.4 x 17 x 2.2 centimetres (0.7
- Genre:
- Business, General, ,
- Condition:
- New
- Availability:
- Item usually sent within 5 working days
Description
Machine learning in insurance explores the application of machine learning techniques to the insurance industry. Actuaries have long combined statistical methodology with problem-solving expertise, but validation has often been lacking. This collection aims to promote good practice in machine learning for insurers by addressing three key issues: identifying the target audience, clarifying prior knowledge and data sets, and providing mathematical statistical arguments for validation procedures. The book considers these challenges in the context of real-world applications, highlighting the importance of understanding the client or sponsor, as well as the available prior knowledge beyond the data set. By examining these aspects, insurers can develop more effective machine learning models that balance technical expertise with business needs. With its focus on practical application and validation, this book is a valuable resource for actuaries, risk managers, and anyone interested in applying machine learning to the insurance industry.
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