Scribd Logo
Upload

Welcome to Scribd!

  • 399 views

    Case Study 1

    Uploaded by

    Shankar
    This document analyzes data to determine appropriate insurance products for different customer profiles. Key factors analyzed include age, income, marital status, dependents, credit score, and current insurance coverage. Based on the analysis, older customers with age above 60 and lower activity are best suited for critical illness policies. Married customers tend to have higher incomes and credit scores, making them better risks. The number of dependents also affects disposable income and credit score. Younger working individuals are better fits for accident policies, while critical illness policies suit older individuals. The document then filters customer data based on these criteria to identify eligible customers for different insurance products.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Case Study 1

    Uploaded by

    Shankar
    399 views9 pages
    This document analyzes data to determine appropriate insurance products for different customer profiles. Key factors analyzed include age, income, marital status, dependents, credit score, and current insurance coverage. Based on the analysis, older customers with age above 60 and lower activity are best suited for critical illness policies. Married customers tend to have higher incomes and credit scores, making them better risks. The number of dependents also affects disposable income and credit score. Younger working individuals are better fits for accident policies, while critical illness policies suit older individuals. The document then filters customer data based on these criteria to identify eligible customers for different insurance products.

    Original Title

    case study 1.pptx

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document analyzes data to determine appropriate insurance products for different customer profiles. Key factors analyzed include age, income, marital status, dependents, credit score, and current insurance coverage. Based on the analysis, older customers with age above 60 and lower activity are best suited for critical illness policies. Married customers tend to have higher incomes and credit scores, making them better risks. The number of dependents also affects disposable income and credit score. Younger working individuals are better fits for accident policies, while critical illness policies suit older individuals. The document then filters customer data based on these criteria to identify eligible customers for different insurance products.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    399 views9 pages

    Case Study 1

    Uploaded by

    Shankar
    This document analyzes data to determine appropriate insurance products for different customer profiles. Key factors analyzed include age, income, marital status, dependents, credit score, and current insurance coverage. Based on the analysis, older customers with age above 60 and lower activity are best suited for critical illness policies. Married customers tend to have higher incomes and credit scores, making them better risks. The number of dependents also affects disposable income and credit score. Younger working individuals are better fits for accident policies, while critical illness policies suit older individuals. The document then filters customer data based on these criteria to identify eligible customers for different insurance products.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 9

    Intro Slide

    Analysing the data given:


    • We analysed the data given and came to multiple conclusions which
    led to the determination of different data driven pivot tables in the
    case.
    • Age was a significant factor in the case. People with age above 60 will
    have reduced activity and reduced mobility. Hence, due to this they
    are least likely to meet with normal accidents. Hence for them LASCI
    is the best policy type to be taken.
    • Income range is another significant factor used to determine credit
    score here in the case. Higher the income range, the more the ability
    to pay off debts. In this case outstanding bank balance also matters.
    Analysis
    • Marital Status is another variable that determines the credit score. For
    Married people they can be assumed to be in a better income range hence
    higher payment capability . Therefore they will have higher credit scores. For
    divorced, they need to pay alimony to the spouse, hence outstanding
    balance in banks will be less which leads too less Credit score.
    • Number of dependants also play a role in the credit score. The more the
    number of dependants, the lower the disposable income and lesser credit
    score.
    • The types of Insurance LASU should be sold to younger working class people
    and they have lesser chance of critical illness. The insurance type LASCI
    should be sold to old people who are prime suspects for critical illness types.
    Credit Score vs Marital Status
    • We infer from the pivot table
    that single people and married
    people have credit scores on the
    higher side.
    • 9.5 percent approx. people are
    divorcee and they fall under the
    rating of 700-1100.
    • Around 57.5 percent people are
    married and have the credit
    score in the range of 700-1100.
    Data Modification
    • We first filtered out the PPI column from 0 and 1. We took 0 for the
    number of people whom the insurance product can be sold.
    • Next we filtered people based on their credit ratings; X,A,B,C being
    assumed to be good to average credit rating. So that we can get the
    list of people eligible for insurance.
    • Then we will be looking at the income range of the individual whom
    we are selling our product. This part is important as lower income
    range people can default in payments.
    • Property prices owned by people is also a criteria for secure loans as
    those can be taken as collateral in case one defaults payments.
    • They should be judged by the maturity risk column. People with
    higher time period will have higher maturity risk
    • Default risk is when one is not sured about getting paid pack. CIFAS
    rating measures this fraud system
    • CCJ column also determines the credit score based on if any cases are
    filed against this person.
    Age vs Product Description
    • Slide 7 contains the Pivot table for Age vs Product description.
    • We can infer from the table that most of the people do not have
    insurance and they can be targeted to sell their products.
    • LASU is the most common type of insurance product sold. People of
    age group around 31-50 have the maximum number of LASU products
    taken.
    • Higher age group people from 51-70 have maximum percent of LASCI
    taken.
    • This is the Pivot table for PPI vs
    Loan types.
    • Here we can see that when Ppi is
    0, i.e. for people who have
    unsecured loans with no
    personal protection insurance
    are 5502. So we need to target
    these people.

    You might also like