The power of place
Classifier enhances the predictive power of granular categorical variables, such as geographical areas or vehicle codes. It helps you understand the underlying factors driving loss statistics in any geographic area, allowing you to base pricing decisions on more accurate assumptions.
By combining internally and externally sourced data in a way that overcomes external data deficiencies, Classifier also enables profitable business to be written in areas where an insurer has little existing exposure.
- Enhances predictive power of granular categorical variables, such as geographical areas or vehicle codes, by considering experience from nearby categories.
- Provides adjacency and distance-based spatial smoothing.
- Helps communication between pricing, claims and underwriting functions, with clear graphical presentation of results.