Machine Learning
Learning that aims to predict a target variable based on labeled training data
Type of plan in which the employer who assumes the financial risk for providing health care benefits to its employees
Self Funded Plan
Analyzing and pricing insurance policies based on factors such as age, gender, occupation, and health conditions of the insured individuals
Underwriting
LSTM
Long Short Term Memory
CEO of CVS Health
Karen Lynch
Support Vector Machines (SVM)
PPO
Preferred Payer Organization
Multiplier which takes into account claim amounts that have not yet been reported
IBNR Factor
Deep learning framework developed by Google Brain
TensorFlow
This retired American professional basketball player won six NBA championships with the Chicago Bulls in the 1990s
Michael Jordan
Resampling method that uses different portions of the data to test and train a model on different iterations
Cross Validation
Fixed lump sum of money per person paid to a provider
Capitations
Estimating the amount of money an insurance company needs to set aside to fulfill its future claim payments and obligations to policyholders
Reserve Calculation
Technique that includes a pooling layer
Convolutional Neural Network (CNN)
Capital of Switzerland
Bern
Classical trade-off in model training and evaluation
Bias Variance Trade-Off
Describes the specific list of medications that are covered by a health insurance plan
Formulary
Another name for manual and experience blended PMPM
Adjusted Community Rating (ACR)
Widely-used deep learning library, developed by the University of Montreal, is known for its ease of use and efficient implementation of deep learning algorithms
Keras
This country has the 3rd largest GDP in the world
Japan
Uses Entropy (Weak Learner)
Decision Trees
Type of insurance that provides coverage for losses that are not covered by traditional insurance policies, such as catastrophe events or liability claims that exceed the regular policy limits
Umbrella Insurance
The limit that is set on the individual claim amount in which average claims are added back based on this limit
Pooling Point
Generative AI model architecture combines two neural networks, a generator and a discriminator, to produce realistic and high-quality synthetic data
Generative Adversarial Network (GAN)
This Portuguese explorer was the first to successfully sail around the southern tip of Africa, reaching India in 1498
Vasco Da Gama