Variations on the Intelliscript Bidding Simulation — Presentation Detail — Celebration of Scholars

Instructions

Student presentations must have a faculty sponsor.

Abstracts must include a title and a description of the research, scholarship, or creative work. The description should be 150-225 words in length and constructed in a format or style appropriate for the presenter’s discipline.

The following points should be addressed within the selected format or style for the abstract:

A clear statement of the problem or question you pursued, or the scholarly goal or creative theme achieved in your work.
A brief comment about the significance or uniqueness of the work.
A clear description of the methods used to achieve the purpose or goals for the work.
A statement of the conclusions, results, outcomes, or recommendations, or if the work is still in progress, the results you expect to report at the event.

Presenter photographs should be head and shoulder shots comparable to passport photos.

Additional Information

More information is available at carthage.edu/celebration-scholars/. The following are members of the Research, Scholarship, and Creativity Committee who are eager to listen to ideas and answer questions:

Jun Wang
Kim Instenes
John Kirk
Nora Nickels
Andrew Pustina
James Ripley

Variations on the Intelliscript Bidding Simulation

Name: Alexandria Wheeler
Major: Mathematics
Hometown: Kenosha, WI
Faculty Sponsor: Haley Yaple
Other Sponsors:
Type of research: Course project

Name: Alec DiGirolamo
Major: Mathematics
Hometown: Kenosha, WI
Faculty Sponsor: Haley Yaple
Other Sponsors:
Type of research: Course project

Name: Andrew Dorst
Major: Mathematics
Hometown: Kenosha, WI
Faculty Sponsor: Haley Yaple
Other Sponsors:
Type of research: Course project

Name: Mary Hussey
Major: Mathematics
Hometown: Arlington Heights, IL
Faculty Sponsor: Haley Yaple
Other Sponsors:
Type of research: Course project

Abstract

This work was done as a research project for a class in the national PIC Mathematics (Preparation for Industrial Careers in Mathematics) program. The course is set up as project-oriented learning partnered with an outside business, in our case Intelliscript, in which we work in small groups on a mathematically founded question presented by the company. Intelliscript offers its clients automated underwriting services designed to improve cost margins. To prove the value of their product to potential clients, they have a bidding simulation in place that creates a simulated group insurance market by comparing the client’s original and Intelliscript adjusted risk factors. The simulation currently assumes that the consumer will always only choose the cheaper option between the two. Using a retrospective study of data used in the bidding simulation, our goal is to improve this bidding system by making this decision more probabilistic than binary and introducing more competition into the simulated market than simply Intelliscript and the client. These improvements will in turn produce a more realistically projected client profit.