Claim Development Modeling
Use DataRobot to predict the ultimate claim amount based on claim characteristics at the time the claim is filed.
With DataRobot, you automatically build extremely accurate predictive models that lead to a better understanding of how much a claim will ultimately cost. As a result, you can have confidence in how much to reserve for Incurred But Not Reported Loss Amounts. Using the predicted developed loss for each claim as the dependent variable, you will build more robust, accurate pricing models.
Click a button and build the most accurate model to predict, at the time of filing, what the final claim amount will be. DataRobot uses not only numbers and characters, but also text features. With the addition of text, you get true insights from variables such as claim adjuster notes, leading to extremely accurate predictive models.
" What DataRobot was able to accomplish in the first hour was more thorough and accurate than models we had built over the prior month. "