Identification of policies with the highest claim probability
Determining the factors that may lead to a policy ending up with a claim
The customer, a global insurance and reinsurance provider, was looking for a single metric that will help them assess the risk associated while writing a policy. They wanted to determine the factors that may lead to a policy ending up with a claim and obtain insights into the impact of a combination of policy characteristics.
Quantiphi developed a ML model for the Prediction of Loss likelihood associated with a policy to assist underwriters