DVT Project
By:
Ankur Jain
This study source was downloaded by 100000873407263 from [Link] on 04-14-2024 06:52:06 GMT -05:00
[Link]
Tableau Story URL:
[Link]
t_Car_Insurance/StoryofCarInsuranceClaim?publish=yes
EXECUTIVE SUMMARY
Users:
Tableau dashboards are made for the Car insurance claims analysis for the
below points:-
To help future decision making.
To give better customer service in future.
Assumptions:
YOJ (Year in which the car owner applied for the car insurance policy) =
(current year-number of total years given in the dataset).
Conclusion:
Below observation can help in making decision in customer segments to whom
we should target and whom we should not target.
On the basis of Age Group:
Most of the customers are from the age groups of 58-67 and 68-77.
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Hence we should keep the cut-off as 10% as the few members from one
group might move to the other group every year.
More focus should be on customers who belongs to below age groups
1. 48-57
2. 58-67
3. 68-77
On the basis of Income Group:
Target the customers whose income is >100000 dollars. (We can
consider the cut-off to be 15 %.)
Hold the customers in the acceptable income groups.
Try and ignore customers with no income.
On the basis of Home Value Group:
Customers with no house should be considered after going through the
other factors like their income, occupation etc., before accepting their
applications.
Customers, with own houses need to be targeted. Still we should
consider the cut-off to be 15% subject to above mentioned constraints.
This study source was downloaded by 100000873407263 from [Link] on 04-14-2024 06:52:06 GMT -05:00
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On the basis of Occupation:
We need to target the customer’s category where we have % claims
with respect to total customers greater than 15%.
Ignore customers who are not working.
Other factors to consider:-
Insurance company can fix claimable amount on the basis of car age and
condition.
Can set a limit on the number of claims a customer can make in a
particular period of insurance to reduce the burden from customers
group who claim higher no of times.
Insurance company need to plan promotions or offers to retain the best
existing customers and at the same time we need to focus on reducing
the no. of the bad customers.
Insurance company can come up with new long term plans to target
customers from best customer group as they claim less no of time and
have good income.
This study source was downloaded by 100000873407263 from [Link] on 04-14-2024 06:52:06 GMT -05:00
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