1: The Expanding Universe of Insurance Data
Save
Students also studied
4: How Technology Enhances the In... Quiz/Exam chapter 7 analytics proper
21 terms 13 terms 15 terms 19 terms
dfaust22 Preview dfaust22 Preview jreilly1999 Preview Xav
As an underwriter, Jake is considered a valuable member B. Domain knowledge
of the of the data science team at Durham Insurance.
Which one of the following necessary skills does Jake
contribute to the data science team?
Select one:
A. Mathematics
B. Domain knowledge
C. Statistics
D. Computer programming
Which one of the following is a way that insurers and risk C. Discovering new relationships in data
managers can use data science to improve their results
through data-driven decision making?
Select one:
A. Using industry data in addition to the organization's
own data
B. Determining prior year losses at a particular location
C. Discovering new relationships in data
D. Providing human analysis of data
Which one of the following is an example of internal B. Computer claims codes about a claimant's previous accidents
data?
Select one:
A. Information obtained from census data
B. Computer claims codes about a claimant's previous
accidents
C. Weather conditions to confirm or deny a lightning loss
D. Demographic information from government databases
, Claims representative Simone is investigating a recent B. Unstructured external data.
claim with differing accounts from the insured, the
claimant, and several witnesses to an accident. In
reviewing some of the claimant's social media postings,
Simone observed that the claimant bragged about his
propensity to speed and his many unpaid parking and
speeding violations, prompting Simone to look further
into his past. This new information coming to Simone is an
example of
Select one:
A. Structured external data.
B. Unstructured external data.
C. Unstructured internal data.
D. Structured internal data.
Ciara is a risk manager who uses data science to improve B. Automating decision making
her business decisions. Data science allows her to
organize large volumes of data, automate decision
making, discover new relationships in data, and explore
new sources of data. Which one of the following factors
of data science allows Ciara to provide online quotes for
personal auto coverage?
Select one:
A. Exploring new sources of data
B. Automating decision making
C. Organizing large volumes of data
D. Discovering new relationships in data
In the predictive modeling process for an insurance D. Actuary
company, which one of the following plays the role of the
bridge between the data scientists and the underwriters?
Select one:
A. Claims representative
B. Risk Manager
C. Policyholder
D. Actuary
The important first step in a decision-making model is to D. Define the problem.
Select one:
A. Purchase the technology.
B. Assign a data scientist.
C. Prepare the data.
D. Define the problem.
Save
Students also studied
4: How Technology Enhances the In... Quiz/Exam chapter 7 analytics proper
21 terms 13 terms 15 terms 19 terms
dfaust22 Preview dfaust22 Preview jreilly1999 Preview Xav
As an underwriter, Jake is considered a valuable member B. Domain knowledge
of the of the data science team at Durham Insurance.
Which one of the following necessary skills does Jake
contribute to the data science team?
Select one:
A. Mathematics
B. Domain knowledge
C. Statistics
D. Computer programming
Which one of the following is a way that insurers and risk C. Discovering new relationships in data
managers can use data science to improve their results
through data-driven decision making?
Select one:
A. Using industry data in addition to the organization's
own data
B. Determining prior year losses at a particular location
C. Discovering new relationships in data
D. Providing human analysis of data
Which one of the following is an example of internal B. Computer claims codes about a claimant's previous accidents
data?
Select one:
A. Information obtained from census data
B. Computer claims codes about a claimant's previous
accidents
C. Weather conditions to confirm or deny a lightning loss
D. Demographic information from government databases
, Claims representative Simone is investigating a recent B. Unstructured external data.
claim with differing accounts from the insured, the
claimant, and several witnesses to an accident. In
reviewing some of the claimant's social media postings,
Simone observed that the claimant bragged about his
propensity to speed and his many unpaid parking and
speeding violations, prompting Simone to look further
into his past. This new information coming to Simone is an
example of
Select one:
A. Structured external data.
B. Unstructured external data.
C. Unstructured internal data.
D. Structured internal data.
Ciara is a risk manager who uses data science to improve B. Automating decision making
her business decisions. Data science allows her to
organize large volumes of data, automate decision
making, discover new relationships in data, and explore
new sources of data. Which one of the following factors
of data science allows Ciara to provide online quotes for
personal auto coverage?
Select one:
A. Exploring new sources of data
B. Automating decision making
C. Organizing large volumes of data
D. Discovering new relationships in data
In the predictive modeling process for an insurance D. Actuary
company, which one of the following plays the role of the
bridge between the data scientists and the underwriters?
Select one:
A. Claims representative
B. Risk Manager
C. Policyholder
D. Actuary
The important first step in a decision-making model is to D. Define the problem.
Select one:
A. Purchase the technology.
B. Assign a data scientist.
C. Prepare the data.
D. Define the problem.
