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Tag Archives: Machine Learning

Lux Actuaries & Consultants is proud to be a lead sponsor for the 2nd Annual Motor Conference on Digital Transformation in Insurance Pricing and Claims Management. Organised by the Emirates Insurance Association, this virtual event will take place on 12 …

Shining some Light on the Black Box that is ML You’ve probably heard that Machine Learning (ML from here) can be highly predictive and sophisticated. Unlike stochastic models, ML algorithms do not rely on any underlying assumptions about the data, …

An insurance company processes millions of claims, knowing that some of these might be fraudulent. Fraudulent claims that get paid out can cause insurance companies unnecessary and sometimes massive losses. One question that is often posed, and one that is …