Insuring the Auto-Racing Industry: Calculating Prices for Volatile, High-Risk Markets with Mathematica
Francois Roth, CEO, MTA
- Enables immediate computation on historical data from Wolfram|Alpha, SQL and web data sources
- Provides a rapid development workflow with multi-paradigm language, full-featured IDE and built-in computation support
- Delivers dynamic reports locally and over the web, or embeds them in the production system
In Francois Roth's role as director of an insurance company, he uses Mathematica for everything from data processing to results and balances, but he has found it to be particularly powerful in helping him set prices for France's volatile, high-risk auto-racing industry.
After coming to the field of insurance by chance through the job market, Roth surveyed the existing software and chose to work with Mathematica. He uses Mathematica for almost everything he does, because it is a practical tool powerful enough to control complex pricing models.
Roth credits Mathematica for making it not only possible but profitable to insure the auto-racing industry. He adds, "We are some of the few people to continue in this domain, because the calculation was very complex. As far as I know, all the other insurance companies that tried it lost a lot of money."