What is 'intelligent risk analytics'?
The Montage “Intelligent Risk Analytics™” process “thinks” like a team of cross-functional experts incorporating human behavior in both the questions and the assessment: from the way the risk engine “interviews” to how it analyzes responses.
ˆ Up
Why is human science critical for the Montage Risk model?
Because we’re only human – it is human behavior which lies at the core of management liability. Montage Analytics does not predict human behavior; we examine the environment to identify current and future conditions that allow risk events to cause financial damage.
ˆ Up
What is the Montage Risk Index™?
The Montage Risk Index™ is a three-digit number (similar to a credit score) generated by the Montage Risk Engine™ that indicates the relative vulnerability of an individual business to management liability risk.
ˆ Up
Why is the score important?
Management liability costs American businesses billions in lost time, productivity, and money. Legal costs covered by insurance represent only a fraction of the real costs incurred. In 2008 alone, businesses paid $14.4 billion in net insurance premiums to cover only part of the cost of management liability.
ˆ Up
What areas of management liability does Montage address?
At this time, we address:
- Professional liability, errors and omissions (E&O)
- Director and officer liability (D&O)
- Employment Practices Liability (EPL)
We have a number of other products under development.
ˆ Up
How much does it cost?
The Montage Risk Index™ score is free.
ˆ Up
How do I get a score?
Since there are different options for insurance companies, brokers, underwriters or businesses, please feel free to contact Montage Analytics at info@montageanalytics.com or call us at 408-348-9344 for a conversation to answer this question.
ˆ Up
Is there more to your services than just a Montage Risk Index™ score?
Yes. We provide various reports including the Montage Risk Index™ report, the Diagnostic Report and various Analytic Reports.
ˆ Up
Does Montage Analytics provide other services?
Yes. We offer customized reports and other services to meet the management needs of senior executives interested in loss avoidance, including the Montage Risk Index™ report, the Diagnostic Report and various Analytic Reports.
ˆ Up
How long has Montage Analytics been in business?
Montage Analytics was established in 2006.
ˆ Up
How is the Montage Risk Index™ score calculated?
The interactive assessment questionnaire draws upon a comprehensive behavioral analysis which weighs and fuses inferences including business scope and condition, structural and procedural factors, the organization’s culture, expert beliefs and underwriting knowledge with statistics, trends and benchmarks. The result is the Montage Risk Index™, a calculated probability of vulnerability to potentially damaging business events going forward, plus various comprehensive diagnostic and statistical reports.
ˆ Up
Isn’t that like predicting the weather?
No. We do not predict events. Using your weather example, we predict how wet a business is likely to get by identifying the number and location of the holes in their umbrella.
ˆ Up
What is the Montage Risk Index™ score range?
Montage Risk Index™ score ranges from 000 - 1000. Like golf and cholesterol lower is better.
ˆ Up
How can a business lower their Montage Risk Index™ score?
Scores may be improved by taking action in the areas identified in the diagnostic report to mitigate risk.
ˆ Up
What is knowledge engineering?
Knowledge engineering entails a multi-disciplinary process for identifying, extracting and applying knowledge from a variety of sources to the Montage Risk Engine™.
ˆ Up
What is Bayesian statistics?
The mathematical idea called ‘Bayesian statistics’ was formulated by the British minister, the Rev. Thomas Bayes in 1761. Bayes developed a means of calculating the probability of a future event occurring based on previous events, current conditions and all other known and related factors. Bayes nets are used in search engines and a wide variety of complex decision analysis processes.
ˆ Up
Why do you use Bayes nets for your risk analysis?
We use Bayes nets to allow the Montage Risk Index™ to ‘think’ like a human –because Bayes nets offer the most flexible, transparent and compact method for mapping cause and effect variables for diagnosing complex problems. If you used a decision tree, for example, for each Montage Risk Index™ score, it would take a spreadsheet roughly the size of Montana and it would be linear in its 'thinking' where the Bayes net is non-linear, and more like human thinking.
ˆ Up
How can I find out more about what makes Montage Analytics different?
You can request our white paper which discusses how we are different, and also describes the science behind our unique system. Also, please feel free to contact Montage Analytics at info@montageanalytics.com or call us at 408-348-9344. We would be glad to answer any additional questions you may have.
Who is on your team?
CEO: Kathleen S. Long, PhD
CTO: M. Douglas Campbell, MSEE
CFO: Gary E. Jones
See the ‘About us’ page.
ˆ Up
11/13/2009
