Chapter 12 Flashcards
1
Q
4 Applications of Predictive Modeling in Underwriting
A
- Application Triage
- Propensity Scoring
- Approve/decline decisions
- mortality scoring
2
Q
Propensity Scoring
A
complex model built to estimate the likelihood of a proposed insured having a certain condition, based on more detailed information like labs
3
Q
Major considerations when implementing a model
A
- integration and end to end testing
- reason codes
- monitoring
- model old outs
4
Q
Model hold outs
A
Certain number of proposed insured’s using the new system are randomly selected for traditional requirements
