Developing Predictive Models for Income Protection Insurance Claims
Project Member(s): Xu, G.
Funding or Partner Organisation: ANZ Banking Group Limited
Start year: 2016
Summary: ANZ Wealth (ANZW) and AAi are exploring partnership opportunities using deep advanced analytics and data-driven evidence-based predictive models to achieve ANZW’s targeted business outcomes. Based on the discussions between ANZW and UTS, the “Insurance Claim Predictive Analytics” project is selected as a pilot study to gauge capability. The expected deliverables of this pilot are as follows: o to investigate the characteristics of insurance applicants in claims; o to develop predictive models to predict insurance applicants who are most likely to claim Income Protection within the first 12 months (bad risk), and those who are unlikely to claim within the first 5 years, and o to conduct a discovery presentation in the Data Arena.
Zhu, X & Xu, G 2016, 'Applying Visual Analytics on Traditional Data Mining Process: Quick Prototype, Simple Expertise Transformation, and Better Interpretation', Proceedings - 4th International Conference on Enterprise Systems: Advances in Enterprise Systems, ES 2016, International Conference on Enterprise Systems: Advances in Enterprise Systems, IEEE, Melbourne, Australia, pp. 208-213.
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Keywords: Predictive model, insurance claim, income protection
FOR Codes: Application Tools and System Utilities, Pattern Recognition and Data Mining