ExVis: Explainable visual decision support system for risk management

Managing and communicating risk has become a crucial task in today's economy and society, where data visualization can play a vital role. Existing researchers have applied various methods to assess the risks and have shown traditional ways of visualization such as maps, charts, diagrams, etc. However, designs, developments, evaluations, and lack of proper explanations have decreased their reliability in decision-making. In this regard, we propose a solution named “Explainable visual decision support system (ExVis)” to present all the relevant information concisely and provide a visual recommendation for risk management. ExVis combines the state-of-the-art interactive visualizations blending with the Bayesian network (BN) model. Our approach is used to analyze insurance data as a case study. In this study, we have three main implications: (i) insurance data are potentially useful for understanding business risk; (ii) a visual explanation dashboard enhances stakeholder decision-making; and (iii) some critical insights into the underwriting of policyholders have been deduced. Finally, we evaluate the usefulness of our visual interactive system (VIS) by a user study. Copyright © 2021 the Institute of Electrical and Electronic Engineers, Inc.