CEOs Concerned about the Time and Cost of Implementing Predictive Analytics
Panel agrees that actuaries must advocate for the tools by presenting potential return-on-investment and other benefits.
December 14, 2012
Many CEOs hesitate to embrace predictive analytics out of concern over the time and expense of launching the models, according to a panel of high-ranking actuaries and executives at the annual meeting of the Casualty Actuarial Society. The panel presented ideas for educating and encouraging CEOs to press forward with such projects during a presentation entitled “What Executives Need to Know about Predictive Modeling.”
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