Insurance claims are a common issue in the industry. The ever-increasing insurance claim loss is a constant concern for insurers. Claim fraud is becoming more common, and in insurance companies, the amount of claim data is rising. Therefore, during the claim re-view procedure, it could be challenging to ascertain the insured claim status. Consequently, the target of the review was to foster an AI model that sorts and conjectures the recurrence of collision protection claims. The preprocessed data was used to create testing and training sets. Using Random Forest (RF) to create the prediction model, it was then evaluated for accuracy, meticulousness, reminiscence, and F-measure. Moreover, the automobile coverage provider makes decisions based on the claim status.

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Vehicle Insurance Claim Prediction

  • V. Sureka,
  • K. B. Aruna,
  • L. Sudha,
  • A. K. Suntheya

摘要

Insurance claims are a common issue in the industry. The ever-increasing insurance claim loss is a constant concern for insurers. Claim fraud is becoming more common, and in insurance companies, the amount of claim data is rising. Therefore, during the claim re-view procedure, it could be challenging to ascertain the insured claim status. Consequently, the target of the review was to foster an AI model that sorts and conjectures the recurrence of collision protection claims. The preprocessed data was used to create testing and training sets. Using Random Forest (RF) to create the prediction model, it was then evaluated for accuracy, meticulousness, reminiscence, and F-measure. Moreover, the automobile coverage provider makes decisions based on the claim status.