An insurance policy is an arrangement by which a company undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for the payment of a specified premium. A premium is a sum of money that the customer needs to pay regularly to an insurance company for this guarantee. Building a model to predict whether a customer would be interested in Vehicle Insurance is extremely helpful for the company because it can then accordingly plan its communication strategy to reach
out to those customers and optimize its business model and revenue.
Solution:
The main aim of this use case is to predict, whether the customer would be interested in Vehicle insurance provided information about demographics (gender, age, region code type), Vehicles (Vehicle Age, Damage),Policy (Premium, sourcing channel) etc.
Alert
Project Enrollments will starts on 25th April, 2021