Risk and Fraud in the Insurance Industry
نویسنده
چکیده
This paper examines risk in the insurance industry, discusses some initial thoughts on how intelligent applications can be used to model, understand and control risk and describes a recent use of natural language processing in insurance underwriting. elements. Not surprisingly risk and the mathematics associated with risk namely probability and statistics were accepted and advanced at insurance companies. Insurance companies employ actuaries who are proficient in mathematics to build risk models and to help design products that protect clients against risk while keeping the companies offering these insurance products solvent. We will discuss risk from two perspectives: ̄ Risk as an essential element of insurance and the related underwriting task
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