arpan65 / claims-severity-prediction-using-machine-learning Goto Github PK
View Code? Open in Web Editor NEWIn the life-cycle of insurance, when the insured incurred a loss and notify the insurer, the process in called FNOL (First Notice of Loss). When a FNOL hits the insurer'system it is important to identify the complexity of the claim. At present general insurance carriers spend almost 40% of the claim life cycle's time in the process of assigning and re-assigning the claims to the adjusters based on changing complexity level and adjuster's experience. Big insurance carriers sit on a gold mine of historical data, which can be utilized to predict the complexity of a claim using the power of machine learning/AI.
License: MIT License