A new data analysis tool will help insurance companies to make more reliable predictions of how much money to keep in reserve. This will help them avoid overcompensating for risk by keeping too much cash in reserve, which can slow business growth. The software tool has been developed from the University of Liverpool’s six-year, £2.6 million EPSRC-funded Big Hypotheses project. The project is developing new algorithms to improve our use of statistical models so reliable inferences can be made from big, complex datasets more cheaply and quickly. In the future this could be applied to other industries including healthcare, defence, and security. Our Executive Chair Professor Charlotte Deane said: “The UK is a global leader in financial services and a healthy insurance industry is vital to the sector’s continuing success. This new tool, made possible by EPSRC support for cutting-edge research and state-of-the-art training, will aid the industry’s decision-making, as well as visibility and accountability. It will not just help safeguard insurance firms against future events but enable them to channel more resources into serving new and existing markets more efficiently and cost-effectively.” Head to our website for the full story.
It is exciting to be part of Intellegri benefiting so tangibly from the EPSRC involvement in "Big Hypotheses"
Does it use SMC? :-)