chapter 8 Question and answers already
passed 2025
Durham Insurance wants to analyze and improve its auto claims handling
process through process mining. Which one of the following would be an
example of process instance that would be used in the analysis? - correct
answer ✔Reviewed policy
Millstone Insurance (MI) wants to identify potential ways to improve its claims
handling process. Process mining begins with data analysis of claims activity
logs to identify the claims handling activities and the timing of them. Which
one of the following would help MI set the initial benchmarks for each activity
in the current claims handling process? - correct answer ✔Process map
To gain a better understanding of what is involved in the investigation and
resolution of different types of claims, the insurer will need to - correct answer
✔Combine process mining with data analysis techniques.
The goal of business process management (BPM) is to - correct answer
✔Optimize a business process, such as claims handling.
Which one of the following is an algorithm used to group data into clusters of
claims? - correct answer ✔K-means
Millstone Insurance wanted to assign its most complex workers compensation
claims to experienced claim adjusters as early as possible. The data science
team used the classification tree technique to develop a predictive model.
When holdout data was used to test the model's predictive accuracy, 45% of
the complex claims were assigned to experienced adjusters. When claims
were randomly assigned, only 15% of the complex claims were assigned to
experienced adjusters. What is the lift provided by the predictive model? -
correct answer ✔3
passed 2025
Durham Insurance wants to analyze and improve its auto claims handling
process through process mining. Which one of the following would be an
example of process instance that would be used in the analysis? - correct
answer ✔Reviewed policy
Millstone Insurance (MI) wants to identify potential ways to improve its claims
handling process. Process mining begins with data analysis of claims activity
logs to identify the claims handling activities and the timing of them. Which
one of the following would help MI set the initial benchmarks for each activity
in the current claims handling process? - correct answer ✔Process map
To gain a better understanding of what is involved in the investigation and
resolution of different types of claims, the insurer will need to - correct answer
✔Combine process mining with data analysis techniques.
The goal of business process management (BPM) is to - correct answer
✔Optimize a business process, such as claims handling.
Which one of the following is an algorithm used to group data into clusters of
claims? - correct answer ✔K-means
Millstone Insurance wanted to assign its most complex workers compensation
claims to experienced claim adjusters as early as possible. The data science
team used the classification tree technique to develop a predictive model.
When holdout data was used to test the model's predictive accuracy, 45% of
the complex claims were assigned to experienced adjusters. When claims
were randomly assigned, only 15% of the complex claims were assigned to
experienced adjusters. What is the lift provided by the predictive model? -
correct answer ✔3
