Although insurance is a necessary component of modern society, insurance companies deal with serious issues brought on by policyholder fraud. To overcome this issue, we propose a system for effective detection of the frauds based on Machine Learning approach. Data pre-processing, feature selection, method selection, model training, and evaluation are all steps in this process. This system ultimately focuses on accurate and efficient fraud detection in Automobile insurance claims industry.

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Automobile Vehicle Insurance Claims Fraud Detection Using Machine Learning

  • M. Sravan Kumar Reddy,
  • K. Pujith Kumar Reddy,
  • B. Balaji,
  • B. Hari Priya,
  • B. Tejaswini

摘要

Although insurance is a necessary component of modern society, insurance companies deal with serious issues brought on by policyholder fraud. To overcome this issue, we propose a system for effective detection of the frauds based on Machine Learning approach. Data pre-processing, feature selection, method selection, model training, and evaluation are all steps in this process. This system ultimately focuses on accurate and efficient fraud detection in Automobile insurance claims industry.