Verisk Analytics Interview Questions and Answers

AEP (Annual Enrollment Period) and OEP (Open Enrollment Period) are key times for health insurance enrollment.

• AEP is a specific time frame for Medicare beneficiaries to enroll or change plans, typically from October 15 to December 7.

• OEP refers to the period when individuals can enroll in or change their health insurance plans, often occurring in January.

• For example, during AEP, seniors can switch from Original Med...read more

Cat modelling involves assessing and quantifying the risk of catastrophic events to inform insurance and risk management strategies.

• Utilizes statistical methods to predict the frequency and severity of catastrophic events.

• Commonly used in the insurance industry to evaluate risks from natural disasters like hurricanes and earthquakes.

• Involves the use of historical data and simulation models to estimate potential lo...read more

HAVING is used with GROUP BY to filter groups, WHERE is used to filter rows

• HAVING is used with GROUP BY clause to filter groups based on aggregate functions

• WHERE is used to filter rows based on conditions

• HAVING is applied after GROUP BY, WHERE is applied before GROUP BY

• Example: SELECT department, AVG(salary) FROM employees GROUP BY department HAVING AVG(salary) > 50000

• Example: SELECT * FROM employees WHERE age ...read more

K value for KNN algo can be selected using techniques like cross-validation, grid search, and elbow method.

• Use cross-validation to find the optimal K value by splitting the data into training and validation sets multiple times.

• Perform grid search by testing a range of K values and selecting the one with the highest accuracy.

• Apply the elbow method by plotting the K values against the error rate and selecting the K ...read more

Flood insurance is a type of insurance coverage that protects property owners from financial losses due to flooding.

• Flood insurance is separate from standard homeowners insurance policies

• It covers damage to a building and its contents caused by flooding

• Flood insurance may be required for properties located in high-risk flood zones

• It is typically purchased through the National Flood Insurance Program (NFIP) or priv...read more

Cat modeling involves creating statistical models to analyze feline behavior, health, and genetics.

• Behavioral models: Analyze how cats interact with their environment, e.g., using reinforcement learning.

• Health models: Predict disease susceptibility based on genetics, e.g., using logistic regression.

• Population models: Estimate cat populations in urban areas, e.g., using mark-recapture methods.

• Genetic models: Study ...read more