Talon is a web-based system that uses advanced machine learning technologies, according to a statement from the companies. The web enablement was a major factor in its selection by OKFB, according to VP of actuarial and product development Dave Perkins.
"We looked at some large multivariate software providers, and even licensed one of the products," he says in a statement." The programs were complicated, difficult to run. Training was extremely expensive and after a failed attempt at getting the software to produce results specific to our company, we placed it on the shelf and finally abandoned it altogether.
"Talon displayed results in a format that was easy to understand and apply to our existing rating," he added.
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio