News Room
December 10, 2009 Millennium Information Services Offers 360Value for Replacement Cost Estimates
October 9, 2009 Bag of Tricks
Predictive analytics is not magic, but the depth and breadth of its value across the enterprise amaze even veteran IT people.
From the Article Predictive modeling is essential for HomeWise Insurance Group because the company's sole focus is insuring homeowners in hurricane-exposed states. "When you don't price your product correctly, bad things happen," says Dale Hammond, president and CEO of HomeWise. "Either you don't write business you'd like to write, or you write business you shouldn't be writing because it is underpriced and you end up losing money."
The modeling product HomeWise is using was developed by FICO and Millennium Information Services and currently has multiple uses for HomeWise in different states, but the long-term intention, as the carrier continues to validate the tool, is to use it in pricing.
October 9, 2009 Completeness is Key When Contemplating Catastrophe
From the Article "The industry has historically made its pricing models based on bad data," says Steve Pietrzak, the president and CEO of Itasca, Ill.-based Millennium Information Services, which pairs property inspection services with an analytic engine. Pietrzak says he sees insurers increasingly relying on on-site inspections over external data sources such as tax records or aerial photos when gauging the square footage of a property. "I've seen companies go to 100% inspection models," he says. "They feel better actually looking at what they are insuring."
August 10, 2009 The Business Ledger - Technology improves risk-related decision making
April 8, 2009 Case Study of Iowa Insurance Company using Solutions from Millennium
April 7, 2009 Millennium's Data Environment: Highly Secure, Highly Availabile
February 10, 2009 Millennium Information Services Moves Into New Headquarters
September 15, 2008 Millennium Information Services Announces New Predictive Analytics Tool in Latest Partnership with Fair Isaac
August 4, 2008 Millennium Information Services Launches Web Event Series to Introduce Full Property Inspection Lifecycle
August 3, 2005 Fair Isaac Allies with Millennium Information Services to Provide P&C Insurers with Advanced Underwriting Analytics
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