AI demystified – what’s the buzz?

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Having been to several conferences, both in person and virtually, in the last couple of years and attended sessions which have included AI in the title, we have been disappointed by what we have seen and heard. All too often the use of the term has been misleading and suggesting an attempt to grab attention. We have started to wonder at what points management information (MI) or business intelligence (BI) becomes predictive modelling (PM) and then becomes machine learning (ML) and, to be honest, we have been struggling to make sense of it all. To be blunt, there seems to…

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Noisy underwriting

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Noisy underwriting? It’s when you give two underwriters a less than straightforward case to assess and they arrive at different decisions – maybe very different. Or if you asked an underwriter to assess a risk that he or she processed a while back, and the decision second time round is different from the first. Why might underwriting decisions might vary between individuals or within the work of the same underwriter? Different skill levels? Different intelligence levels?  Variations in mood? (Might Monday morning decisions differ from Friday afternoon ones? Or be influenced by a recent argument with a spouse/partner or friend…

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