There are four classic ways to manage risk: assume it, lessen it, avoid it altogether, or transfer it. The last is the most difficult, since it entails accurately pricing what is essentially unknowable. But advances in data science can now inform risk analysis in a whole new way. Take a look at how we helped a global reinsurance company explore data analytics to inform best practices across its business.
The insurance industry estimates that leakage, defined as the difference between what is paid out on a...Whitepaper