Provides advanced statistical analysis, predictive modeling, and a suite of forecasting techniques specifically tailored for actuarial science and insurance applications.
Advanced tools that leverage machine learning and data mining techniques to identify patterns in historical data and make forward-looking predictions about risk factors and claims frequency.
More Predictive Analytics Platforms
More Actuarial Department ...
|
Multi-source Data Ingestion Capability to import data from multiple sources (databases, files, APIs, third-party partners). |
SPSS imports data from various sources, including databases, flat files, and supports API integration via extensions. | |
|
Automated Data Cleaning Automates detection and correction of anomalies, missing values, and inconsistencies. |
SPSS provides automated data cleaning features, including handling of missing values and outlier detection. | |
|
Data Transformation Pipelines Supports building workflows for data normalization, aggregation, and feature engineering. |
SPSS supports data transformation pipelines, including normalization, aggregation, and feature engineering through its GUI and syntax. | |
|
Metadata Management Tracks data lineage, versioning, and schema evolution. |
SPSS provides metadata management through variable properties and data documentation features. | |
|
Big Data Scalability Handles high volumes of actuarial and claims data efficiently. |
SPSS is designed to handle large datasets efficiently, supporting big data scalability appropriate for actuarial and claims usage. | |
|
Real-time Data Streaming Support Ingests streaming data for real-time analytics. |
No information available | |
|
Data Privacy & Masking Implements data masking and encryption for sensitive customer and claims information. |
SPSS supports data masking and encryption, especially when integrated in enterprise environments. | |
|
Audit Trail Maintains logs of data modifications for compliance purposes. |
Audit trails are available through SPSS Syntax and output logs for compliance purposes. | |
|
Data Retention Policy Management Configurable data archival and deletion to comply with regulations. |
SPSS allows users to define data retention policies and manage data deletion in line with compliance needs. | |
|
Concurrent Data Processing Capacity Maximum number of data jobs processed in parallel. |
No information available | |
|
Data Import Speed Throughput for importing data into the platform. |
No information available | |
|
Scheduled Data Refresh Ability to schedule automatic data refreshes. |
SPSS supports scheduled data refreshes via scripting or integration with other IBM automation tools. | |
|
Data Quality Scoring Quantifies the quality/accuracy of each ingested dataset. |
undefined SPSS can calculate and report data quality metrics via its data validation and profiling tools. |
|
Wide Algorithm Library Supports diverse ML algorithms including regression, classification, clustering, and time-series models. |
SPSS provides a broad algorithm library, including regression, classification, clustering, and time-series. | |
|
Support for Advanced Techniques Includes neural networks, ensemble methods, and gradient boosting. |
SPSS supports advanced analytics, including neural networks, ensemble methods, and gradient boosting (with Modeler add-on). | |
|
Automated Machine Learning (AutoML) Automates feature selection, model selection, and hyperparameter tuning. |
SPSS offers Automated Machine Learning (AutoML) functionalities such as feature/model selection and hyperparameter tuning. | |
|
Custom Model Development Allows users to build custom models using scripting languages like Python/R. |
Supports custom scripting in Python and R for model development. | |
|
Out-of-the-box Insurance Templates Prebuilt model templates for claims frequency, severity prediction, lapse rates, etc. |
No information available | |
|
Model Version Control Manages and tracks iterations and updates to predictive models. |
SPSS provides full version control for models and syntax files. | |
|
Model Training Speed Throughput of training new models on actuarial datasets. |
No information available | |
|
Parallel Model Training Number of models that can be trained simultaneously. |
No information available | |
|
Model Selection Metrics Diversity of available evaluation metrics (AUC, Gini, RMSE, etc.). |
No information available | |
|
Model Explainability Tools Provides tools for interpreting model results, such as feature importance. |
SPSS includes explainability tools like feature importance and outputs with visualizations. | |
|
Bias Detection Detects and alerts to biased predictions or disparate impact. |
SPSS supports bias detection via its analysis tools and extensions. | |
|
Ensemble Support Ability to combine multiple models for improved predictions. |
It supports ensembling via algorithms such as bagging, boosting, and stacking (with Modeler or custom scripts). |
|
Batch Prediction Processing Generates predictions for large datasets in bulk. |
Batch prediction processing is core to SPSS's workflow, including scoring large datasets. | |
|
Real-time Prediction API Offers API endpoints for making predictions on demand. |
No information available | |
|
Probability Output Models return probability/confidence scores alongside categorical predictions. |
Probability/confidence outputs are available for classification and regression models. | |
|
Prediction Interval Support Estimates prediction uncertainty intervals (e.g., 95% confidence). |
Prediction intervals supported for relevant models such as linear regression. | |
|
Forecast Horizon Flexibility Models support forecasts at various future intervals (e.g., 1 month, 12 months, life of policy). |
SPSS allows setting forecast horizons for time series and other predictive models. | |
|
Scenario Modeling Allows what-if simulations to model impact of business/market changes on risk. |
Scenario modeling is supported using simulation and what-if analysis tools. | |
|
Prediction Throughput Number of predictions the platform can generate per second. |
No information available | |
|
Historical Backtesting Enables comparison of predicted vs. actual outcomes on historical data. |
SPSS supports model backtesting using historical data comparison features. | |
|
Automated Alerts Notifies users of outlier predictions or threshold breaches. |
No information available | |
|
Customizable Output Formats Supports various output (CSV, JSON, dashboards) for consumption by downstream teams. |
Results and format output can be customized to CSV, JSON, Excel, and custom dashboarding output. |
|
Custom Dashboard Builder Drag-and-drop UI for creating visual summaries of key metrics and predictions. |
SPSS offers custom dashboards and visual summaries via its Chart Builder and Output Viewer. | |
|
Interactive Visualization Users can drill down, filter, and explore predictions and model results. |
SPSS provides interactive data exploration and visualization capabilities, including drill-down and filtering. | |
|
Scheduled Reporting Ability to automate delivery of reports on a defined schedule. |
No information available | |
|
Export Options Export reports or dashboards in various formats (PDF, Excel, PNG, etc.). |
Reports and dashboards can be exported in PDF, Excel, PNG, etc. | |
|
Template Library Access to premade insurance analytical report or visualization templates. |
No information available | |
|
Role-based Access Control for Reports Restricts access to reports based on user role or department. |
Role-based access control for reports is supported via enterprise deployment integrable with LDAP/Active Directory. | |
|
Real-time Visualization Updates Dashboards auto-refresh when new data or predictions are available. |
SPSS dashboards can auto-refresh when new data is available, depending on integration and automation setup. | |
|
Visualization Elements Number of distinct chart types (bar, line, heatmap, etc.) supported. |
No information available | |
|
Collaboration Tools Users can annotate, comment, or share dashboards directly on platform. |
No information available | |
|
Customization Capabilities Ability to customize colors, branding, and layouts of reports. |
Report output is highly customizable in layout, colors, and branding. |
|
Regulatory Compliance Modules Out-of-the-box compliance with IFRS 17, GDPR, Solvency II, etc. |
No information available | |
|
Full Audit Trail for Models & Data Tracks all user and system changes to models and data for external audit review. |
Full audit trail is available for all data and model changes via SPSS logs and syntax. | |
|
Data Retention Policy Automation Configurable settings for automatic data deletion/retention. |
SPSS supports automated data retention policy via scripting and administrative settings. | |
|
User Access Logging Records and reports all user actions for security and compliance. |
User access logging is available in enterprise and cloud versions for security/compliance. | |
|
Validation & Verification Tools Ensures models are correctly implemented and results are accurate. |
SPSS provides built-in tools for validation and verification of analytic results. | |
|
Automated Regulatory Report Generation Generates standard regulatory filings and templates. |
No information available | |
|
Control Testing Frequency How often controls and compliance checks are run automatically. |
No information available | |
|
E-signature Support Enables secure sign-off of models, data, and reports. |
SPSS supports e-signature via integration with enterprise digital signature platforms. | |
|
Access Control Granularity Number of distinct user roles and access levels configurable. |
No information available |
|
Task Assignment Assign users to data cleaning, modeling, or review responsibilities. |
No information available | |
|
Progress Tracking Monitors status and progress of activities in predictive modeling projects. |
No information available | |
|
Workflow Automation Automates hand-offs and approvals in actuarial analytic processes. |
No information available | |
|
Comment & Discussion Threads Enables contextual comments and discussions on models and reports. |
No information available | |
|
User Notification System Sends alerts and reminders to users as tasks progress. |
SPSS can be configured to send user notifications or alerts as part of custom workflows. | |
|
Version History Tracks historical changes and enables rollback if necessary. |
Version history and rollback available for scripts and models. | |
|
API Integration with Productivity Tools Connects with Slack, Teams, Jira, or email. |
No information available | |
|
Concurrent Users Supported Maximum number of users who can work in the system simultaneously. |
No information available | |
|
Project Template Library Library of workflow templates for common actuarial processes. |
No information available | |
|
Role-based Permissions Permissions and approvals tied to defined actuarial roles. |
Supports user/role-based permissions tied to workflow approvals. |
|
APIs for Data Import/Export Comprehensive, well-documented APIs for integrating data from/to external systems. |
SPSS provides APIs for data import/export and custom integration. | |
|
Prebuilt Connectors Ready connectors to core insurance systems (policy admin, claims, CRM, ERPs, etc). |
No information available | |
|
Custom ETL Pipeline Support Ability to define custom pipelines with scripting or visual tools. |
SPSS allows for custom ETL through its syntax language and integration with Python/R. | |
|
SDKs Available Software development kits for popular languages (Python, Java, R, etc.). |
SDKs for Python and R are available for scripting and automation. | |
|
Plugin/Extension Marketplace Supports third-party extensions to expand functionality. |
No information available | |
|
Webhooks Triggers for external workflow automation or downstream alerts. |
No information available | |
|
Custom Algorithm Integration Users can implement and deploy their own predictive algorithms. |
SPSS allows users to integrate and deploy custom algorithms using Python/R. | |
|
Data Lake/Data Warehouse Integration Native support for major cloud/on-premise data stores. |
Integration with data warehouses like IBM Db2, Oracle, and others is supported. | |
|
Integration Latency Time delay for updates to be reflected across connected systems. |
No information available |
|
Horizontal Scaling Support Can add more computing resources to support increased workload. |
SPSS supports scaling via distributed processing and integration with IBM cloud/servers. | |
|
Elastic Scaling (cloud-native) Automatically expands/contracts compute resources as needed. |
When deployed in cloud, elastic scaling is supported via IBM Cloud infrastructure. | |
|
Multi-Tenancy Can securely support multiple teams or business units in one platform. |
Enterprise licensing allows for secure multi-tenancy. | |
|
Processing Latency Average time to process data or generate a prediction. |
No information available | |
|
Maximum Supported Dataset Size Largest dataset the platform can handle efficiently. |
No information available | |
|
Uptime SLA Guaranteed platform availability. |
No information available | |
|
Disaster Recovery Time Objective (RTO) Max time to restore after an outage. |
No information available | |
|
Peak Concurrent User Count Maximum users supported during peak load. |
No information available | |
|
Instantaneous Prediction Throughput Immediate predictions delivered per second. |
No information available |
|
Data Encryption (in transit & at rest) All data is encrypted both during transmission and when stored. |
Data encryption in transit and at rest is provided for hosted versions and when integrated with IBM security standards. | |
|
User Authentication & SSO Supports secure login and federated identity providers (Single Sign-On). |
Supports user authentication and integrates SSO with enterprise identity providers. | |
|
Granular Permissions Fine control of feature/data access per user or group. |
Granular permissions are configurable, especially in IBM enterprise environments. | |
|
Anonymization Tools Methods for removing or masking identifiable information before modeling. |
Data anonymization tools are provided for privacy preservation. | |
|
Security Certifications Compliance with standards such as ISO 27001, SOC 2, etc. |
IBM/Cloud versions maintain compliance with ISO 27001, SOC 2, etc. | |
|
Penetration Testing Frequency How often the system undergoes external security review. |
No information available | |
|
Intrusion Detection & Monitoring Monitors platform for unusual or unauthorized activity. |
SPSS environments can include intrusion monitoring, especially when hosted on IBM Cloud. | |
|
Data Loss Prevention (DLP) Systems and policies to prevent data exfiltration or leakage. |
Data loss prevention is managed as part of IBM's enterprise security solutions. | |
|
Role-based Data Access Limits access to sensitive data based on user roles. |
Role-based data access is a feature of SPSS enterprise deployment. |
|
User-friendly Interface Easy-to-navigate UI for actuaries and analysts. |
User interface is acclaimed for ease of use for actuaries/analysts. | |
|
In-app Tutorials Built-in walkthroughs and help guides for new users. |
SPSS includes in-app tutorials and walkthroughs. | |
|
Searchable Knowledge Base Comprehensive library of support articles. |
Online documentation and help is fully searchable. | |
|
Onboarding Assistance Personalized onboarding training or webinars. |
IBM provides personalized onboarding via training and webinars. | |
|
Dedicated Support Team Human support via chat, email, or phone. |
Dedicated support is provided for licensed users via chat/email/phone. | |
|
Community Forum Online community for user Q&A and sharing best practices. |
Online community forums for SPSS are available via IBM and broader user groups. | |
|
Multi-language Support Interface and help available in multiple languages. |
SPSS offers interface in multiple languages and multi-lingual help resources. | |
|
Service Level Agreement (SLA) for Support Contractual commitment for response/resolution time. |
IBM offers SLAs for support response and resolution times. | |
|
Number of Supported Languages The number of user interface languages provided. |
No information available |
|
Transparent Pricing Model Upfront disclosure of all costs (user, data volume, computation, etc.). |
Pricing and cost details are transparently published by IBM. | |
|
Pay-as-you-go Option Only pay for actual usage, scalable for variable needs. |
Pay-as-you-go options are available for IBM SPSS Subscription models. | |
|
Enterprise Licensing Discounted, high-volume licensing available for large organizations. |
Enterprise licensing options available for SPSS via IBM. | |
|
Flexible User Licensing Licenses based on user types or concurrent users for cost optimization. |
Flexible user/concurrent licensing models are offered by IBM. | |
|
Free Trial Availability Allows departments to try before committing. |
Free trials are available for SPSS Statistics. | |
|
Migration Cost Estimation Tool Calculates anticipated costs for migrating to the platform. |
No information available | |
|
Support Cost Tiering Offers multiple support levels at varying price points. |
Multiple support cost levels are available for different user needs. | |
|
Annual Pricing Increase Cap Limits on how much pricing can go up yearly. |
No information available |
This data was generated by an AI system. Please check
with the supplier. More here
While you are talking to them, please let them know that they need to update their entry.