The quest for predictive modeling insights has proved a boon for Allstate, as it releases the results of its three-month long crowdsourcing competition, which set out to find the best models predicting bodily injury claims based on vehicle characteristics.
Crowdsourcing is a distributed problem-solving and production model in which problems and or data are broadcast to an unknown group of solvers in the form of an open call for solutions. Users—also known as the crowd—typically form into online communities—in this case using the Kaggle platform, and the crowd is encouraged to submit solutions. The best solutions are then owned by the entity that broadcast the problem in the first place—the crowdsourcer, in this case Allstate.
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