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In our society, technology has found itself as the root cause of a certain level of modernization. It wasn’t long ago when people heavily depended on bank tellers to complete cash transactions at a bank. Now however, much of the bank teller’s job has been automated in the form of

In our society, technology has found itself as the root cause of a certain level of modernization. It wasn’t long ago when people heavily depended on bank tellers to complete cash transactions at a bank. Now however, much of the bank teller’s job has been automated in the form of ATM’s and electronic kiosks at drive through lanes. Automation is the current trend, and more departments are going to experience it. To those wondering which area or department may be hit next by a wave of technological automation, the answer is quite simple: CRM. In its raw form, CRM, which stands for Customer Relationship Management, is a “system for managing your relationships with customers” (Hubspot). Essentially, it is a software intended to help companies maintain strong relationships with their customers, customers being a critical part of the process. A good CRM system should benefit both the business and the customer. However, this is easier said than done, making the million dollar question the following: how can CRM systems be improved to truly benefit both the business and the customer? This paper will demonstrate that the answer is quite simple: automation. Through secondary research, as well as interviews conducted with various business professionals, I will demonstrate that automation and integration can make the process much more efficient and can erase a lot of errors in the process. Automation is the future of business, and this fact is not any less true in the CRM field.
ContributorsWarrier, Akshay (Author) / Riker, Elise (Thesis director) / Lee, Sanghak (Committee member) / Barrett, The Honors College (Contributor) / Department of Supply Chain Management (Contributor) / Department of Finance (Contributor) / Department of Marketing (Contributor)
Created2023-05
ContributorsWarrier, Akshay (Author) / Riker, Elise (Thesis director) / Lee, Sanghak (Committee member) / Barrett, The Honors College (Contributor) / Department of Supply Chain Management (Contributor) / Department of Finance (Contributor) / Department of Marketing (Contributor)
Created2023-05
ContributorsWarrier, Akshay (Author) / Riker, Elise (Thesis director) / Lee, Sanghak (Committee member) / Barrett, The Honors College (Contributor) / Department of Supply Chain Management (Contributor) / Department of Finance (Contributor) / Department of Marketing (Contributor)
Created2023-05
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The objective of this study is to build a model using R and RStudio that automates ratemaking procedures for Company XYZ’s actuaries in their commercial general liability pricing department. The purpose and importance of this objective is to allow actuaries to work more efficiently and effectively by using this model

The objective of this study is to build a model using R and RStudio that automates ratemaking procedures for Company XYZ’s actuaries in their commercial general liability pricing department. The purpose and importance of this objective is to allow actuaries to work more efficiently and effectively by using this model that outputs the results they otherwise would have had to code and calculate on their own. Instead of spending time working towards these results, the actuaries can analyze the findings, strategize accordingly, and communicate with business partners. The model was built from R code that was later transformed to Shiny, a package within RStudio that allows for the build-up of interactive web applications. The final result is a Shiny app that first takes in multiple datasets from Company XYZ’s data warehouse and displays different views of the data in order for actuaries to make selections on development and trend methods. The app outputs the re-created ratemaking exhibits showing the resulting developed and trended loss and premium as well as the experience-based indicated rate level change based on prior selections. The ratemaking process and Shiny app functionality will be detailed in this report.

ContributorsGilkey, Gina (Author) / Zicarelli, John (Thesis director) / Milovanovic, Jelena (Committee member) / Barrett, The Honors College (Contributor) / School of Mathematical and Statistical Sciences (Contributor)
Created2022-05