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Insurance Claim Prediction Machine Learning Project with Source Code

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Latest Machine Learning Project with Source Code

insurance claim prediction machine learning. Insurance companies are extremely interested in the prediction of the future. Accurate prediction gives a chance to reduce financial loss for the company. A major cause of increased costs are payment errors made by the insurance companies while processing claims. Furthermore, because of the payment errors, processing the claims again accounts for a significant portion of administrative costs.

Dataset :

This dataset contains 7 features as shown below:

age: age of the policyholder
sex: gender of policyholder (female=0, male=1)
BMI: Body mass index, providing an understanding of the body, weights that are relatively high or low relative to height, objective index of body weight (kg / m ^ 2) using the ratio of height to weight, ideally 18.5 to 25
steps: average walking steps per day of the policyholder
children: number of children/dependents of the policyholder
smoker: smoking state of policyholder (non-smoke=0;smoker=1)
region: the residential area of the policyholder in the US (northeast=0, northwest=1, southeast=2, southwest=3)
charges: individual medical costs billed by health insurance.

Installation Steps :-

  1. Install Python 3.7.0
  2. Install all dependencies cmd -python -m pip install –-user -r requirements.txt
  3. Finally run cmd - python

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