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Problem Statement2

The document discusses building a model to determine optimal insurance costs using health and lifestyle data. The goal is to reduce insurance companies' risks by optimizing costs, since individual health habits like diet and exercise strongly influence illness risk. The model will use data from a CSV file containing applicant information like medical history, activities, demographics and vital signs to estimate individual insurance costs.

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stephennrobert
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© © All Rights Reserved
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Download as PDF, TXT or read online on Scribd
472 views

Problem Statement2

The document discusses building a model to determine optimal insurance costs using health and lifestyle data. The goal is to reduce insurance companies' risks by optimizing costs, since individual health habits like diet and exercise strongly influence illness risk. The model will use data from a CSV file containing applicant information like medical history, activities, demographics and vital signs to estimate individual insurance costs.

Uploaded by

stephennrobert
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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Business Problem:

We all know that Health care is very important domain in the market. It is directly linked with the life
of the individual; hence we have to be always be proactive in this particular domain. Money plays a
major role in this domain, because sometime treatment becomes super costly and if any individual is
not covered under the insurance then it will become a pretty tough financial situation for that
individual. The companies in the medical insurance also want to reduce their risk by optimizing the
insurance cost, because we all know a healthy body is in the hand of the individual only. If individual
eat healthy and do proper exercise the chance of getting ill is drastically reduced.

Goal & Objective: The objective of this exercise is to build a model, using data that provide the
optimum insurance cost for an individual. You have to use the health and habit related parameters for
the estimated cost of insurance

File: Data.csv
Target variable: insurance_cost
Data dictionary:

Variable Business Definition


applicant_id Applicant unique ID
years_of_insurance_with_u Since how many years customer is taking policy from the same
s company only
Number of times customers has done the regular health check up in
regular_checkup_lasy_year last one year
Customer is involved with adventure sports like climbing, diving
adventure_sports etc.
Occupation Occupation of the customer
visited_doctor_last_1_year Number of times customer has visited doctor in last one year
cholesterol_level Cholesterol level of the customers while applying for insurance
daily_avg_steps Average daily steps walked by customers
age Age of the customer
heart_decs_history Any past heart diseases
other_major_decs_history Any past major diseases apart from heart like any operation
Gender Gender of the customer
avg_glucose_level Average glucose level of the customer while applying the insurance
bmi BMI of the customer while applying the insurance
smoking_status Smoking status of the customer
Year_last_admitted When customer have been admitted in the hospital last time
Location Location of the hospital
weight Weight of the customer
covered_by_any_other_co
mpany Customer is covered from any other insurance company
Alcohol Alcohol consumption status of the customer
exercise Regular exercise status of the customer
weight_change_in_last_one How much variation has been seen in the weight of the customer in
_year last year
fat_percentage Fat percentage of the customer while applying the insurance
insurance_cost Total Insurance cost

Proprietary content. ©Great Learning. All Rights Reserved. Unauthorized use or distribution prohibited.
Proprietary content. ©Great Learning. All Rights Reserved. Unauthorized use or distribution prohibited.

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