Since the time when cyber insurance was first introduced to the market, there has been a rapidly expanding volume of literature that focuses on other aspects of cyber risk, such as the legal and financial consequences of cyber incidents, and they are closely related to the development of the cyber insurance industry. With the large and […]
For the insurance industry, the potential to understand customers and businesses using new dimensions represented by social and other online data can unleash significant new insights from both customer behavior and risk perspective. These insights can drive insurance automation, underwriting efficiency, and enhanced customer experience. The objective of this project is to develop and optimize […]
For the insurance industry, the potential to understand customers and businesses using new dimensions represented by social and other online data can unleash significant new insights from both customer behavior and risk perspective. These insights can drive insurance automation, underwriting efficiency, and enhanced customer experience. The objective of this project is to develop NLP models […]
A smart contract is a set of codes that execute business logics for contractual agreement in financial transactions. Our University of Illinois team has designed various business models for catastrophe risk sharing. In this project, students are expected to learn smart contract programming and build the first of its kind smart contract for distributed insurance. […]
Machine Learning (ML) techniques have been applied broadly in the field of actuarial science and achieve fruitful results. However, to solve a practical problem with ML, the agent needs to preprocess the dataset, choose the proper ML tools, and tweak the hyperparameters of the model. All these steps are task-specific and require expert knowledge, which […]
Sales data provides businesses with valuable information on the profiling of their customers and thus has important implications on business problems, such as the improvement of customer satisfaction, retention rate, and sale efficiency. In this project, a dataset of sales records will be provided by Luyan Pharma, which has not been analyzed and utilized to […]
AXIS Capital is one of the major insurance carriers that provide cyber policies. As the world is becoming more connected than ever, systemic cyber threats pose a great risk to businesses that rely on information technology, as well as to insurers like AXIS, who provide financial protections to those businesses. As an example of systemic […]