Predictive Analytics Forecasts When Personal Injury Attorneys Will Take a Case Pushing Up Costs for Insurers
When lawyers like Larry 'I'll fight for you' H Parker get involved in insurance claims, it spells trouble for auto insurers. For an insurer, predicting early on that a lawyer will get involved assists in settlement cost mitigation.
Shades of ‘Better Call Saul’ seen from the insurer's side. Imagine your job is to manage risk and settlement costs for a major automotive insurer. Perhaps the most important thing you need to figure out is whether it’s likely a lawyer will take your claimant’s case.
That’s just what our Meetup member and longtime Data Scientist Shantanu Karve faced when he worked for a major local insurer. This is a great real world case study in how data science can be used to control or at least predict which cases will be more expensive and complicated than others.
Shantanu will take us through all the elements of data prep, model building, model validation, software selection and how his model made a major financial impact for his employer.
Don’t miss this one.
About our Speaker
Shantanu Karve, a member of our own Westlake Village Data Science Meetup will speak to us about his personal experiences based on his 15 years as Lead Data Scientist at Valen Analytics, Farmers Insurance, and Legalzoom.
Prior to his career in data science he spent many years in senior IT roles at ICI, Mars, and as the UK Product Manager forthe then 2nd largest computing company in the world, Digital Equipment Corporation.
Impressively he’s an active Kaggler where he’s currently 14th out of 1000 in the $1m Zillow competition.
Shantanu holds a degree in mathematics from Bath University in the UK.