Resources


Accession #: 222103

 

Publication Date:
July 06, 2022
Title:
Policy statement: Big data and risk classification – Understanding the actuarial and social issues
Other Details:
16 pages.
Author:
Canadian Institute of Actuaries
Description:
In this statement, the CIA says that the use of big data is appropriate in insurance ratemaking, and that access to such data creates improved insight about risk and its contributing factors. Access to more data means insurance ratemaking can be based on more appropriate factors, ultimately reducing risk and setting more refined insurance costs.

Learn more at http://www.cia-ica.ca/riskclassification
 

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