vasukumar92/Machine-Learning-based-Car-Insurance-Claim-Prediction
It is important for insurance companies to estimate the risk involved while covering a future customer. Predicting the chances of insurance claim for a future customer allows the company to avoid adding potentially loss making customers. It also helps in determining appropriate monthly charges form the insured person or object. Through this project I try to build a prediction model for a car insurance company to predict the chances of loss making insurance deal based on the details of the car. A major challenge in this project is associated with the number of claims in the training data, only about 0.7% of the data has cars that have claimed insurance. Though this small claim percentage seem insignificant bu the cost requires to cover these insurance could cost the company millions of dollars. To address this challenge, I try to implement sampling techniques to increase the percentage of claim data. Language: R Repository contains: Test and Training data files, R code and a detailed project report conveying challenges in the data and approach to build a final prediction model.