Model Governance in the Insurance Industry: An Overview

Effective model governance requires a comprehensive framework that spans the entire model life cycle.

The insurance industry has undergone a significant transformation in recent years, with the increasing adoption of advanced analytics and data-driven decision-making. At the heart of this transformation lies the use of complex models for various purposes, such as risk assessment, pricing, and claims management. As these models become more sophisticated and integral to business operations, effective model governance has become a critical concern for insurance companies.

This brief provides an executive summary of the Datos Insights report Effective Model Governance in the Insurance Industry: A Comprehensive Guide for Executives and Data Scientists. The report is based on Datos Insights’ ongoing research into the applications of data, AI, and emerging technologies in the insurance industry.

Clients of Datos Insights’ Life, Annuities, & Benefits and Property & Casualty services can download this report.

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