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Data Mining Approaches to Modelling Insurance Risk


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by Inna Kolyshkina and Richard Brookes of PricewaterhouseCoopers

Interest in data mining techniques has been increasing recently among actuaries and statisticians involved in analysing the large data sets common in many areas of insurance. This paper discusses the use of some data mining techniques in insurance and presents two case studies illustrating the application of classification and regression trees (CART), multivariate adaptive regression splines (MARS) and hybrid models.