F# has the potential to be a game changer in the U.S. insurance industry, according to my article, A Sharp New Analytical Tool, which was just published in Contingencies’ software supplement.
If you have never heard of F#, you are not alone. It was developed in England for mathematical and analytic computations. The Microsoft programming language enjoys a larger following in Europe, where banks and insurers are already using it.
Our nation’s banking industry is already enjoying the benefits of F#, and insurance companies are likely to follow.
Grange Insurance’s experience offers a window into the industry’s future. Insurance agents are able to immediately offer quotes while the insurer can offer new products, pricing structures and experiment with predictive modeling.
The Columbus, Ohio-based property/casualty insurer got hip to F# in 2008 while it was still part of Microsoft Research. The programming language is a step beyond the better-known C#, provides faster and more accurate results than SAS and offers several advantages over the much-beloved R language.
But that is just the beginning. To learn more about F# and its potential, please read my article by clicking here.
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