Evaluate whether candidate risk characteristics are actuarially useful and professionally defensible.
Sort each candidate pricing characteristic by the review question it most needs before model use. Cost-related signal Practicality review Fairness or acceptability review Prior claim count over the last three policy years. Fleet vehicle radius band for a commercial auto account. Building age for a property severity model. Free-text occupancy description from broker submissions. Manual safety score entered differently by each underwriter. Telematics mileage feed with frequent missing months. Neighborhood income proxy used in personal lines pricing. Social-media activity score purchased from a vendor. Credit-based score in a jurisdiction with active restrictions.
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