You've been building models since before 'data science' was a job title.
3 AI translations · Insurance
You develop indicated rates by line using loss cost data, trend factors, development factors, expense loads, and profit provisions. You build GLMs to quantify rating variable impact. You file rates with DOIs, respond to objections, and manage the rate-to-exposure-to-loss feedback loop.
You estimate unpaid claim liabilities using development triangles, Bornhuetter-Ferguson, chain ladder, frequency-severity, and Cape Cod methods. You set IBNR by accident year/quarter, monitor development, and present reserve opinions.
You run cat models (AIR, RMS, CoreLogic) to estimate AALs, return period PMLs, and TVaR. You manage aggregate limits, purchase reinsurance based on modeled loss distributions, and stress-test portfolios.