Aida 181 - Study guides, Class notes & Summaries

AIDA 181 - Chapter 1: Exploring Big Data Analysis with complete solutions graded A+

1. How does big data influence risk management and insurance strategy? a) It improves underwriting accuracy b) It reduces claims processing time c) It enhances customer engagement d) All of the above - Answer-d) All of the above 2. What is one benefit of data analytics in claims management? a) Faster and more efficient claims settlement b) Personalized pricing for customers c) Market expansion opportunities d) Improved underwriting accuracy - Answer-a) Faster and more efficient claims s...

What is a SWOT analysis? - Answer-A method to identify strengths, weaknesses, opportunities, and threats. What are some factors contributing to Millstone's deteriorating loss experience? - Answer-Increase in fraudulent claims and weather-related disasters. Why is Millstone concerned about its upper-level employees nearing retirement age? - Answer-Few employees can immediately step into those roles. Why is it a problem that few college graduates are choosing to enter the insurance industry...

Greatview Insurance wants to predict which auto liability claims will most likely go to litigation, so it can assign them to experienced adjusters early in the process. There are certain known indicators of litigation that Greatview wants to use in the data mining process. Which one of the following data mining techniques would Greatview's analyst most likely use? - Answer Classification Which one of the following is correct regarding an insurer's big data? - Answer An insurer'...

AIDA 181 - Chapter 2: Managing Data with 100% complete solutions already passed

AIDA 181: Assignment 2 questions with verified answers

Which one of the following pairs represents internal environmental factors that could be affected by a data analytics initiative? - Answer A. Opportunities and strengths B. Strengths and weaknesses C. Threats and opportunities D. Weaknesses and threats ** CORRECT: Strengths and weaknesses If clusters are grouped at one level of the hierarchy, - Answer A. They are only grouped at that one level of the hierarchy. B. They are grouped at all levels of the hierarchy. C. They are grou...

What is data science? - Answer-Field of data analytics How does data science apply to risk management and insurance? - Answer-Offers business solutions via data analytics What is the role of a data scientist? - Answer-Manage and analyze large amounts of data What skills are necessary for managing data in insurance? - Answer-Education and skills in evaluating data Why is additional training in data science important for insurance professionals? - Answer-To effectively apply data analytics ...

AIDA-181-Assignment 1 – Ch 5 Data-Driven Decision Making well answered to pass graded A+

AIDA 181 - Assignment 3 - Understanding Predictive Modeling fully solved