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    Problem Statement2

    Uploaded by

    stephennrobert
    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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    © All Rights Reserved
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    Problem Statement2

    Uploaded by

    stephennrobert
    338 views2 pages
    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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    © © All Rights Reserved

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    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.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    338 views2 pages

    Problem Statement2

    Uploaded by

    stephennrobert
    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.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    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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