Research On The Improvement Of AC Life Insurance Company's Underwriting Ability With Big Data

In recent years,the booming development of the big data technology greatly promotes the prosperity of China's economic,the improvement of the society,the reform of the corporation,especially the insurance industry who has amount of customer information,which brings a lot of creation and reforms to this industry.The big data technology can optimize the operational parts of the insurance company like the risk control,assessment and pricing,customer management in which effectively changes and upgrades the traditional value chain,promotes the development of the insurance industry and the insurance corporations and improves the core competitiveness of the company.In the value chain of the insurance,underwriting is vital importance.It is the first and the most significant defense against risk to the risk management of the company.At present,there exist many problems in the underwriting like inaccurate checking rules,extensive dependent on the subjective judgment of the underwriting staff.The reasons might be the company lack the capacity that deeply analyze the customer information and contract data as well as extract the risk factors.The features and analysis methods of the big data technology can effectively fill the gap,find the potential risks,promote the underwriting efficiency and improve the risk management of the insurance company.At first,the research applies the big data technology to build the prediction model of life insurance and critical illness insurance about the underwriting module in the AC life insurance corporation.Through the risk scoring,help the staff find the potential risk,improve the positive rate of the medical examination.Then verify the validity of the underwriting rules according to the results of the model to promote the risk management of the underwriting and decrease the cost.Basing on this research,the writer proposes some suggestions that deeply complete the prediction model,build big data warehouse,make up the risk factors of the underwriting.We hope apply the big data to the all operational parts of the company to fully promote the core competitiveness of the company.