Comparing classification accuracy of neural networks,binary logit regression and discriminant analysis for insolvency prediction of life insurers |
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Authors: | Ernest Preston Goss Harish Ramchandani |
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Institution: | 1. Creighton University, 68178-0130, Omaha, NE
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Abstract: | Past studies have documented the failure of the Insurance Regulatory Information System (IRIS) to provide adequate warning of insurer financial distress or insolvency. As a result, scholars have examined alternative parametric and non-parametric models to predict insurer insolvency. This study uses a neural network, a non-parametric alternative to past techniques, and shows how this methodology predicts insurer insolvency more effectively than parametric models. |
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