Thursday, March 31, 2016
A group of scientists have recently teamed up with the insurance industry to create an algorithm which can help them predict when customers will expire. This four year study being launched by the University of East Anglia will use a huge database of medical data to help determine life expectancy and any long-term illnesses people might have. “The four-year project is being funded by a £800,000 grant from the Institute and Faculty of Actuaries (IFoA) and is using experts from insurance giant Aviva.” As people continue to live longer lifespans insurance companies will need to continue developing new formulas and algorithms that can help them make more accurate predictions about their customers. This research can also have practical benefits for figuring out how certain medicines or lifestyles can improve longevity and how people should be planning for retirement.
See Sarah Knapton, Scientists and insurers develop ‘death clock’ to predict when customers will die, The Telegraph, March 31, 2016.