Technical
Algorithms and Predictive Models
Systems that utilize external consumer data and information sources to inform various insurance practices.
Definition
Systems that utilize external consumer data and information sources to inform various insurance practices.
Related Terms
Artificial Intelligence (AI) Systems
Advanced analytical and computational technologies simulating human intelligence for learning, problem-solving, and decision-making....
Predictive model
A model that predicts outcomes for insurance decisions....
External Consumer Data and Information Sources (ECDIS)
Data and information sources used by insurers to supplement or replace traditional underwriting factors....
Insurance practice
Insurance activities covered by the statute....
algorithm
Computational procedure or model used in administrative decisions....