We recently started a joint research initiative, funded by the AXA Research Fund, to work on unusual data for insurance
Insurers sometimes lack information at the time of claim submission, such as the structure of a building, the presence of health risks common to a group of people, or the spatial diffusion of a pandemic. Unusual data, such as satellite images, personal network connections, and tweets can be used to populate this information gap. In this joint research initiative, we will use images, network data, and texts for risk analysis from an actuarial perspective. Specifically, the project will explore how using unusual data can contribute to smoother claims assessment and reduced data quality risk, allowing for better risk selection and pricing. The project will look at three types of unusual data: pictures/satellite images, network data, and text data.
More information will be shared via a dedicated website (https://jridata.github.io/), even if I will also mention interesting papers, conferences and open-source codes on this blog….