Cheng-Sheng Peter Wu

Title: Innovations by Cheng-Sheng Peter Wu in Commercial Insurance

Introduction

Cheng-Sheng Peter Wu is an accomplished inventor based in Arcadia, California, recognized for his significant contributions to the field of commercial insurance through innovative methodologies. With a total of three patents to his name, Wu has developed unique systems that aim to enhance profitability prediction within the insurance industry.

Latest Patents

Among his latest patents is the "Commercial Insurance Scoring System and Method." This innovation employs external data sources to generate a statistical model that predicts the profitability of commercial insurance policies. By independently assessing individual policyholders, this system provides valuable insights into potential profitability without relying solely on an insurance company's internal data.

Another notable patent is the "Method and System for Determining the Importance of Individual Variables in a Statistical Model." This method identifies the significance of various variables in predicting insurance policy profitability. By offering a calculated importance for each variable based on mathematical evaluations, this system facilitates a clearer interpretation of insurance profitability scores for stakeholders, including policyholders and regulators, thereby enhancing communication and understanding in the field.

Career Highlights

Cheng-Sheng Peter Wu is currently affiliated with Deloitte Development LLC, a consultancy firm where his expertise in insurance technology and data analytics is utilized to inform clients about strategic decision-making based on predictive models. His knowledge in complex mathematical calculations has proven invaluable in the development of tools that enhance the decision-making process in commercial insurance sectors.

Collaborations

Wu has had the privilege of collaborating with prominent professionals in his field, including Frank M. Zizzamia and John R. Lucker. These collaborations underscore a commitment to advancing innovations in insurance through teamwork and shared expertise.

Conclusion

Cheng-Sheng Peter Wu exemplifies how innovative thinking can lead to transformative solutions in commercial insurance. His patents not only serve to predict profitability but also aim to demystify the complexities involved in insurance scoring practices. As he continues his work at Deloitte Development LLC, his contributions are anticipated to lead to further advancements in the industry, benefiting both insurers and policyholders alike.