Data Mining Tools: Their Role in Underwriting

 

Ronald J. Schaber, Jr., FALU, FLMI, ACS, AIAA, HIA Assistant Vice President, Underwriting Research & Development SCOR Global Life U.S. Reinsurance Company
Bruce B. Coates, CPCU, CIC Vice President-Market Development-Life, LexisNexis
Chris Stehno Senior Manager, Actuarial, Risk & Analytics, Deloitte Consulting LLP

Data, data, and more data. It’s out there in abundance with lots of data mining tools to go with it. But will its use become mainstream in underwriting? Using credit scores or purchasing data? Analyzing database information and correlating credit scores with mortality studies? What are the implications of using the data given the Fair Credit Reporting Act? Data mining tools, are they unobtrusive to the client? This session explores these questions and more.