In the insurance industry, property and casualty reinsurers have been using predictive modeling (PM) for several years, but predictive modeling can also be used in group insurance. PM is best defined as a process by which current or historical data are used to create predictions about future events or behaviors. Predictive modeling is a process, not a product, and this article investigates challenges and opportunities in group insurance.
Reprinted from Employee Benefit Plan Review, March 2015, with permission from Aspen Publishers, a WoltersKluwer Company, www.aspenpublishers.com.
