This inventor holds 1 USPTO granted patent. Top assignee: International Business Machines Corporation. Active years: 1999.
Company Filing History:
Years Active: 1999
Title: Hsueh-ju Wang: Innovator in Data Mining and Underwriting Profitability Analysis
Introduction
Hsueh-ju Wang is a notable inventor based in Mohegan Lake, NY (US). He has made significant contributions to the field of data mining and its application in underwriting profitability analysis. His innovative approach has the potential to transform how insurance decision-makers analyze risk and profitability.
Latest Patents
Hsueh-ju Wang holds a patent for a method titled "Data mining based underwriting profitability analysis." This computer-implemented method enhances the analytic process for a wide range of insurance decision-makers. The system leverages existing investments in databases to improve underwriting business processes. By applying data mining techniques to historical policy and claims data, it extracts rules that describe policyholders with similar claim frequency and severity characteristics. These rule sets classify policyholders into distinct risk groups, each with unique characteristics, including pure premium. This segmentation allows for the identification of sub-populations of policyholders that deviate from expected normal pure premiums. Consequently, insurance business analysts can interactively adjust eligibility criteria and examine altered characteristics of the covered segments until satisfactory outcomes are achieved. The system is implemented on a client-server architecture using network-centric language technology.
Career Highlights
Hsueh-ju Wang is associated with International Business Machines Corporation (IBM), where he has contributed to advancements in data analysis and underwriting processes. His work has been instrumental in enhancing the efficiency and effectiveness of insurance underwriting.
Collaborations
Hsueh-ju Wang has collaborated with notable colleagues, including Edwin Peter Pednault and Edna Grossman, who have also contributed to the field of data mining and insurance analytics.
Conclusion
Hsueh-ju Wang's innovative work in data mining and underwriting profitability analysis exemplifies the impact of technology on the insurance industry. His contributions continue to shape the future of underwriting processes and risk assessment.