Machine Learning to Specialty Insurance Underwriting
Artificial Intelligence (AI) is transforming the specialty/commercial insurance underwriting from a ‘detect and repair’ to ‘predict and prevent’ approach. Fueled by the massive amount of data, AI now delivers more accurate and real-time risk assessment which helps underwriters efficiently acquire information,prepare more accurate quotes, and speed up and even automate the underwriting process. This talk presents the data challenges in specialty insurance underwriting and demonstrates the application of reinforcement and supervised machine learning techniques on our risk selection, underwriting, and submission prioritization models.
Min Yu is a Senior Data Scientist at Axis Capital. She specializes in AI transformation of the insurance business including personal, commercial, and specialty lines by developing and deploying machine learning models within the business process. Min holds a Ph.D. in Physics from the University of Illinois at Urbana-Champaign.