Predictive analytics has the potential to help long-term care actuaries develop more accurate projections via an automated robust process. This article by Milliman’s Missy Gordon and Joe Long walks through an illustrative case study for a company that transitions from using traditional techniques to using predictive analytics to develop a claim termination assumption.
This article was originally published in the August 2018 issue of Long-Term Care News.
In the world of long-term care (LTC) insurance, making financial projections is challenging for two main reasons: a long projection horizon and complex interactions. This article by Milliman actuaries Missy Gordon and Joe Long walks through the progression from developing LTC projection assumptions using traditional methods to doing so using predictive analytics.
This article was originally published in the December 2017 issue of Long-Term Care News.