Property/casualty insurance actuaries should not be afraid to try alternative approaches to data mining as part of the predictive modeling process, lawyer and economist told the Casualty Actuarial Society (CAS) Ratemaking Seminar in Las Vegas.
Ayres, author of the book Super Crunchers, noted in a keynote address that non-traditional approaches to predictive analysis, such as neural networks, might have a role for actuaries, subject to regulatory constraints.
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