On page C5 of today's WSJ is a short item regarding the hiring of a Chief Science Officer by Chartis, the largest insurance firm in the AIG group. The goal of this new position and unit is to perform "technical pricing" on the voluminous risk management data that AIG has collected globally over the years. This data mining effort will include investigations into possible better loss forecasts and pricing of commercial property-casualty insurance lines of business.
Data mining is something that quite a few current actuarial science students will end up being involved in at some level.
- Rick
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