Text and Predictive Analytics

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Text and Predictive Analytics
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Analytic Value Efforts
Reporting Having the data Timeliness and
accuracy Reports and Tables Surfacing data with
agility Descriptive Analyses Seeing the
data Scorecards / Measurements Profiles and
Exceptions Segmentation Analytic Modeling
Knowing the data Understand Trends Evaluate
Business Practices Choice Models and What
ifs Predictive Analytics Acting on the
data Informed decision-making Actionable
Information Engines
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Convergence of Disciplines Example
Never stop learning
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Data Types and Forms
Structured data Semi-structured data Unstructured
data Text Spatial Pictographic Graphic Voice Video
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The Evolving World of Data
Web of Knowledge
Proof, Logic and Ontology Languages (e.g.,
DAMLOIL)
Shared terms/terminology Machine-Machine
communication
2010
Resource Description Framework (RDF) eXtensible
Markup Language (XML)
Self-Describing Documents
2000
HyperText Markup Language (HTML) HyperText
Transfer Protocol (HTTP)
Formatted Documents Foundation of the Current Web
1990
Based on Berners-Lee, Hendler Nature, 2001
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The DRM Education Pilot
Source Mills Davis, Smart Search Continuum in
DRM Implementation - Preliminary Strategy,
October 11, 2005. DRM Data Reference Model
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Multiple Data Systems which must be pulled
together for analysis. Great opportunity for
cross-validation and sourcing
Vendors/Partners
Medical Data - Bill Review
- PPO - Case Management - Paradigm
Archive, Legacy Systems Current System Claim
Data
External Data
Policy Multiple Underwriting
Systems
Multiple States Billing Systems Finance
Systems CRM Systems, other data
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General Organizational Overview An information
business focused on risk taking. Make. Sell.
Serve.
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Policy processing Underwriting notes and
Diaries
Make
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Customer Management Contact notes and Diaries
Sell
ACCOUNT MANAGER
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Claims processing Progress notes and Diaries
Service
CLAIMS ADJUSTER
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See for yourself ---The importance and relevance
of text
Accident 170824130 - Employee Injured In Fall From Second-Floor Decking
Inspection Open Date SIC Establishment Name
127366367 07/29/1996 1521 xxxxxxxxxxxxxxxxxxxxxxxx
Employee 1 was atop of the second floor decking of a newly constructed home, connecting frame work for a wall. He fell 18 ft 6 in., sustaining injuries that required hospitalization. Employee 1 was not tied off, nor were any other means of fall protection in use. He had not been trained in working from an elevated work surface, the company did not have a written safety program, and regular inspections were not performed.
not tied off, nor were any other means of fall protection in use. He had not been trained in working from elevated work surface the company did not have a written safety program, and regular inspections were not performed.
Keywords decking, fall, tie-off, untrained, work rules, fall protection, construction
Inspection Age Sex Degree Nature Occupation
1 127366367 29 M Hospitalized injuries Cut/Laceration Carpenters
Source U.S. Department of Labor Occupational
Safety Health Administration Accident Report
Detail Accident Investigation Summaries (OSHA-170
form) which result from OSHA accident
inspections.
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Same Problems Different Lines of Business

• Personal Auto, HO, Umbrella
• Small Commercial BOP, CPP
• Middle Market Commercial CPP w/GL, CP, Crime,
  CIM, BM, WC, Auto
• Large Commercial Accounts
• Commercial Auto
• Workers Comp
• Umbrella/Excess
• Specialty Lines DO, EPL, EO, Farm, FI

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Predictive Modeling Projects you should do
Loss Control Fraud Prevention Property
Inspections Assess Work sites Re-underwriting
Cost Avoidance Automate Manual Work Appetite
Qualification Underwriting Guides Redundant
Processes Vendor Sourcing Spend Analysis
Cash-flow Opportunity Subrogation Credit to
Loss Third Party Deductible Premium Audit (Comm)
Account Identification Audit
Ordering Insured to Value (PI)
Better Decision Making Risk Selection Renewal
(Attrition) New (Acquisition) Cross-sell
Up-sell Portfolio Management Broker/Agent
Profiles Medical Management Litigation
Management Large Loss Reserving Improved
Collaboration
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The Challenge