Telematics in automobiles can assist with:

Navigation and vehicle tracking

Jerry wears a health tracker at work. What are the types of measurements it can provide?

Steps taken, heart rate, and sleep patterns

Favorite color and food preferences

Work schedule and meeting reminders

Music playlist and video history

What is the main purpose of classification in data mining?

Categorizing members of a dataset based on known characteristics.

Measuring the correlation between variables in a dataset.

Summarizing data using statistical measures.

Predicting missing values in a dataset.

What are the two data mining techniques applied when an insurer knows what information it wants to predict?

Classification and regression analysis.

Clustering and association rule mining.

Data cleaning and transformation.

Neural networks and deep learning.

What is the first step in the data mining process according to the Cross Industry Standard Process for Data Mining (CRISP-DM)?

To understand what a business wants to achieve by applying data mining to one or more sets of data.

To deploy the data mining solution into production.

To build models using machine learning algorithms.

To clean and preprocess the data for analysis.

After the data and its source(s) are understood, what must be done before data mining can proceed?

The data must be prepared, which involves cleaning the data as much as possible to eliminate missing or inaccurate data.

The data must be encrypted to ensure security before analysis.

The data must be visualized using charts and graphs before mining.

The data must be stored in a data warehouse for at least one year before mining.

The purpose of data mining is:

To extract useful information from large datasets

The basic techniques of data mining are:

Classification, clustering, association rule mining, regression

Sorting, searching, compiling, linking

Drawing, painting, sculpting, sketching

Reading, writing, listening, speaking

An insurer would use the techniques of classification and regression analysis when:

Predicting future claims and setting premiums

An insurer would use the techniques of association rule learning and cluster analysis when:

Identifying patterns in customer data and segmenting policyholders.

Calculating premium rates for individual policies.

Processing insurance claims faster.

Complying with regulatory requirements.

What does the data science team look for in the claims data to identify gradually developing complex claims?

Attributes that were known within a week of first report in the claims data.

Claims that have the highest payout amounts regardless of time.

Only claims that are reported after a year of the incident.

Attributes that are unrelated to the timeline of the claim.

What technique does the data science team use to develop a predictive model based on the attributes of complex claims?

A classification tree technique.

What is the purpose of using holdout data in validating the complex claims model?

To test the classification tree model to determine its predictive accuracy on data that was not used in its development.

To increase the size of the training dataset for better model performance.

To ensure that the model is overfitting the training data.

To simplify the model by removing irrelevant variables.

How does a claim begin to be reported according to the complex claims reporting process?

A claim begins by being reported online or by telephone to its claims intake unit, which directs claims to the appropriate office.

A claim begins by being reported directly to the legal department for immediate review.

A claim begins by being submitted in person at the nearest branch office only.

A claim begins by being mailed to the headquarters for manual processing.

Three Hills Insurance would want to identify potentially complex claims within a short time after they are reported because:

It allows for faster and more effective management of claims.

It helps increase the number of claims reported.

It reduces the need for customer service representatives.

It ensures all claims are paid immediately.

The attributes of complex claims are used in developing a classification model by:

Serving as features for the model to learn patterns and make predictions.

Determining the output labels directly.

Eliminating the need for data preprocessing.

Replacing the need for model evaluation.

A classification tree model to predict complex claims can be improved after the model is developed and deployed by:

Collecting more data and retraining the model

Reducing the number of features

A claims representative would be a valuable member of a data science team because:

They provide domain expertise and real-world insights into claims processes.

They can code advanced machine learning algorithms.

They manage the IT infrastructure.

The role of artificial intelligence (AI) in processing and making sense of large amounts of data is to:

Analyze and interpret data efficiently

Telematics can assist claims representatives in the insurance industry by:

Providing real-time data on vehicle usage and accidents

Increasing insurance premiums automatically

Eliminating the need for any human intervention

Reducing the number of insurance policies sold

The purpose of data mining in business solutions is:

To analyze large datasets to discover patterns and insights

To create marketing advertisements

The four basic techniques of data mining are:

Classification, Clustering, Regression, Association Rules

Sorting, Filtering, Aggregation, Visualization

Encryption, Decryption, Compression, Extraction

Sampling, Normalization, Transformation, Reduction

An insurer would use the techniques of classification and regression analysis in data mining when:

Predicting future claims and segmenting policyholders based on risk.

Designing new insurance products.

Scheduling meetings with clients.

An insurer would use the techniques of association rule learning and cluster analysis in data mining when:

Identifying patterns and grouping similar policyholders for targeted marketing.

Calculating premium rates for all customers.

Filing regulatory compliance reports.

Processing individual insurance claims.

Leveraging Claims Data

Authored by Dee Nessa

Other

Professional Development

Used 1+ times

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

Content View

Student View

56 questions

Show all answers

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Emerging technology provides rich sources of claims data by:

Enabling real-time data collection and analysis

Limiting access to digital records

Reducing the amount of available data

Eliminating the need for electronic health records

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best describes the Internet of Things (IoT)?

Devices that gather and transmit data automatically and wirelessly

Devices that only store data locally

Devices that require manual data entry

Devices that do not communicate with other devices

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fill in the blank: IoT technologies allow smart products to collect and process data and communicate with other ______ products.

smart

manual

broken

expensive

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a condition that IoT sensors can measure?

A) Air quality

B) Ambient light and temperature

C) Barometric pressure

D) Financial transactions

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Wearable sensor tags ("wearables") can help protect workers from hazardous conditions by collecting data about their environments, habits, and health.

True

False

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is telematics used for in the context of claims data?

To collect data on personal autos, commercial vehicles, products, shipments, machinery, smart devices, and workers

To provide entertainment

To store paper records

To manufacture vehicles

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fill in the blank: Vehicle telematics devices track drivers' location, braking, acceleration, speed, cornering, lane shifting, turns, time of operation, and more, and transmit that information to the ______ for analysis.

insurer

driver

mechanic

manufacturer

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever

or continue with

Microsoft

Apple

Others

Already have an account?

Similar Resources on Wayground

55 questions

final exam study(drivers ed)

Quiz

•

10th Grade - Professi...

56 questions

soal soal akg 2020

Quiz

•

Professional Development

56 questions

Level 2 Cold Water

Quiz

•

Professional Development

55 questions

BASICS OF CHEMISTRY

Quiz

•

Professional Development

53 questions

BT Ch-5 Corporate Governance

Quiz

•

Professional Development

51 questions

TEST blanc

Quiz

•

Professional Development

52 questions

Test Your Knowledge_Hunting Domestic New_RO

Quiz

•

Professional Development

53 questions

Test Your Knowledge_Hunting INTL New_RO

Quiz

•

Professional Development

Popular Resources on Wayground

15 questions

Fractions on a Number Line

Quiz

•

3rd Grade

10 questions

Probability Practice

Quiz

•

4th Grade

15 questions

Probability on Number LIne

Quiz

•

4th Grade

20 questions

Equivalent Fractions

Quiz

•

3rd Grade

25 questions

Multiplication Facts

Quiz

•

5th Grade

$fractions$

22 questions

fractions

Quiz

•

3rd Grade

6 questions

Appropriate Chromebook Usage

Lesson

•

7th Grade

10 questions

Greek Bases tele and phon

Quiz

•

6th - 8th Grade

Discover more resources for Other

20 questions

Black History Month Trivia Game #1

Quiz

•

Professional Development

20 questions

90s Cartoons

Quiz

•

Professional Development

12 questions

Mardi Gras Trivia

Quiz

•

Professional Development

7 questions

Copy of G5_U5_L14_22-23

Lesson

•

KG - Professional Dev...

12 questions

Unit 5: Puerto Rico W1

Quiz

•

Professional Development

42 questions

LOTE_SPN2 5WEEK2 Day 4 We They Actividad 3

Quiz

•

Professional Development

15 questions

Balance Equations Hangers

Quiz

•

Professional Development

31 questions

Servsafe Food Manager Practice Test 2021- Part 1

Quiz

•

9th Grade - Professio...

Leveraging Claims Data

Emerging technology provides rich sources of claims data by:

Which of the following best describes the Internet of Things (IoT)?

Fill in the blank: IoT technologies allow smart products to collect and process data and communicate with other ______ products.

Which of the following is NOT a condition that IoT sensors can measure?

Wearable sensor tags ("wearables") can help protect workers from hazardous conditions by collecting data about their environments, habits, and health.

What is telematics used for in the context of claims data?

Fill in the blank: Vehicle telematics devices track drivers' location, braking, acceleration, speed, cornering, lane shifting, turns, time of operation, and more, and transmit that information to the ______ for analysis.

An example of a technology that can glean insights from data collected from Internet of Things (IoT) and telematics devices is:

Telematics in automobiles can assist with:

Jerry wears a health tracker at work. What are the types of measurements it can provide?

Access all questions and much more by creating a free account

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Other