PROCESS FOR DETERMINING A CONFIDENCE FACTOR FOR INSURANCE UNDERWRITING SUITABLE FOR USE BY AN AUTOMATED SYSTEM

摘要

A process for determining the confidence factor for an insurance application underwriting decision (1200) comprising: identifying at least one internal parameter (1210) that may affect the probability of misclassification of the insurance application, estimating the conditional probability of misclassification (1220) for the at least one identified parameter, translating the conditional probability of misclassification (1230) into a soft constraint for the at least one parameter, and defining a run-time function (1240) to evaluate the confidence threshold based on the soft constraint.