Insurance Claim Analysis Using Machine Learning Algorithms
Rama Devi Burri1, Ram Burri2, Ramesh Reddy Bojja3, Srinivasa Rao Buruga4
1Rama Devi Burri, LBR College of Engineering, Mylavaram, Andhra Pradesh, India.
2Ram Burri, Whirlpool Corporation, Michigan, USA.
3Ramesh Reddy Bojja, LBR College of Engineering, Mylavaram, Andhra Pradesh, India.
4Srinivasa Rao Buruga, LBR College of Engineering, Mylavaram, Andhra Pradesh, India.
Manuscript received on 08 April 2019 | Revised Manuscript received on 15 April 2019 | Manuscript Published on 26 July 2019 | PP: 577-582 | Volume-8 Issue-6S4 April 2019 | Retrieval Number: F11180486S419/19©BEIESP | DOI: 10.35940/ijitee.F1118.0486S419
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Now a day’s Data is playing a central role and is carrying the big asset in the insurance industry. In today’s journey insurance industry has a vital role. Insurance transporters have access to more information than ever before. From the past 700+ years in the insurance industry we can consider the three major eras Starting from 15th century to 1960, industry followed the manual era, from1960s to 2000 we are in the systems era, now we are in digital era i.e. 2001-20X0.The highest corporate object in all three eras is that the fundamental insurance industry has been determined by believing the data analytics in adopting the changing technologies to better and keep the ways and keep capital together. In advanced analysis the main challenge is the analytical models and algorithms which are being insufficient to support insurers; only by machines we can overcome this challenge.
Keywords: Machine Learning, Digital Era, Client Lifetime Value (CLV).
Scope of the Article: Machine Learning