Case Study: Insurance Risk Prediction
Risk Brackets and Data Insurance companies spend a large part of their effort on calculating the rates to give each customer based on their insurance needs. A key component of this effort is calculating the customer’s risk factor. Because different people may use their insurance plans more or less than others, insurance companies calculate each customer’s risk and modify their rates accordingly. This means that when two people both want plan “A” for insurance, the company looks at their driving history, accidents, and other factors to determine their “premiums” or how much extra they need to pay to offset their risks … Continue reading Case Study: Insurance Risk Prediction
