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    Auto Insurance Fraud Detection

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    ap1450ajay
    This document discusses detecting auto insurance fraud using machine learning. The introduction provides background on insurance fraud and focuses on auto insurance fraud detection. The methodology section explains that a machine learning model will be built using Python and a public dataset from Kaggle to classify insurance claims as fraudulent or not. Key steps include preprocessing the data, separating features and targets, standardizing data, training an XGBoost classifier on 75% of the data and testing it on the remaining 25%. The conclusion states that XGBoost achieved 75% accuracy, the highest of the algorithms tested, so it will be used for predictions.

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    © All Rights Reserved
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    Auto Insurance Fraud Detection

    Uploaded by

    ap1450ajay
    70 views27 pages
    This document discusses detecting auto insurance fraud using machine learning. The introduction provides background on insurance fraud and focuses on auto insurance fraud detection. The methodology section explains that a machine learning model will be built using Python and a public dataset from Kaggle to classify insurance claims as fraudulent or not. Key steps include preprocessing the data, separating features and targets, standardizing data, training an XGBoost classifier on 75% of the data and testing it on the remaining 25%. The conclusion states that XGBoost achieved 75% accuracy, the highest of the algorithms tested, so it will be used for predictions.

    Original Title

    Auto Insurance Fraud Detection (1)

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    This document discusses detecting auto insurance fraud using machine learning. The introduction provides background on insurance fraud and focuses on auto insurance fraud detection. The methodology section explains that a machine learning model will be built using Python and a public dataset from Kaggle to classify insurance claims as fraudulent or not. Key steps include preprocessing the data, separating features and targets, standardizing data, training an XGBoost classifier on 75% of the data and testing it on the remaining 25%. The conclusion states that XGBoost achieved 75% accuracy, the highest of the algorithms tested, so it will be used for predictions.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    70 views27 pages

    Auto Insurance Fraud Detection

    Uploaded by

    ap1450ajay
    This document discusses detecting auto insurance fraud using machine learning. The introduction provides background on insurance fraud and focuses on auto insurance fraud detection. The methodology section explains that a machine learning model will be built using Python and a public dataset from Kaggle to classify insurance claims as fraudulent or not. Key steps include preprocessing the data, separating features and targets, standardizing data, training an XGBoost classifier on 75% of the data and testing it on the remaining 25%. The conclusion states that XGBoost achieved 75% accuracy, the highest of the algorithms tested, so it will be used for predictions.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 27

    KBC NORTH MAHARASHTRA UNIVERSITY, JALGOAN

    Z.B. PATIL COLLEGE, DHULE


    Department of STATISTICS

    “AUTO INSURANCE FRAUD DETECTION”

    BY Guided By
    DYNANESHWAR KOTE
    MS. PRATIKSHA
    AJAY PATIL
    RUIKAR MAM
    SACHIN WANKHEDE
    INTRODUCTION
    ⚫ An improper activity committed by individuals in
    order
    to gain benefit.
    ⚫ There are various types of frauds viz. Health
    care, Agricultural frauds but we are focusing on
    Auto Insurance Fraud Detection.
    W hat is Auto Insurance
    Fraud Detection
    ⚫The insurance industry is concerned with
    the detection of fraudulent behavior
    with insurance company due to
    vehicles . The number of automobile
    claims involving some kind of suspicious
    circumstance is high and has become a
    subject of major interest for companies .
    By building a classification model auto
    insurance fraud can be detected.
    N eed of Auto insurance
    fraud detection
    ⚫ India is one of the biggest market for
    insurance industries all over the world, yet it is
    not free from risks.

    ⚫ IndianInsurance Industry looses around $6 billion


    every year to this insurance frauds.

    ⚫ Hence there is an urgent need to develop a capability


    which can help companies identify whether the given
    insurance claim is fraud or genuine with high
    degree of accuracy and with less amount of time.

    ⚫ This will also help in maintaining the customers


    satisfaction and also the trust towards the
    insurance company.
    OBJECTIVE

    ⚫ To minimize number of fraud claim cases.

    ⚫ Tobuild a classification methodology to


    determine whether a customer is placing
    a fraudulent insurance claim or not .

    ⚫ To provide quickness & high accuracy for


    claiming process.

    ⚫ Toreduce the amount of financial loss


    of company due to such illegals
    frauds.
    Methodolog
    y
    ⚫W e use machine learning &
    their algorithm using
    python.
    ⚫The data used for this study is
    secondary data. It is extracted and
    compiled from Kaggle website
    ⚫ The data is then preprocessed
    and after training ,the data is
    modeled using Xgboost classifier
    and we predict given claim is fraud
    Importing
    Libraries
    ⚫In this step we import all
    necessary libraries required in
    our project
    Load the
    Dataset
    ⚫After importing all our required
    libraries then we load the D ataset.
    ⚫The Dataset we used in this project is
    a publicly available dataset taken
    from Kaggle
    Basic Operation on
    Dataset.
    ⚫Here we perform some basic
    operation on our dataset to check
    whether our dataset working
    properly or not
    C hecking the N ull
    values
    Data
    cleaning
    ⚫C leaning missing values using
    categorical imputer
    Extracting categorical
    data
    Encodin
    g⚫In this step we perform label
    encoding on categorical variables in
    the dataset
    Catagorical Data after
    Encoding
    C ombining categorical &
    numerical data
    Separating Feature column
    and Target C olumn
    Checking Multicollinearity
    using Heatmap
    ⚫Here we plot heatmap showing
    relation between the variables
    Removing highly correlated
    columns
    ⚫Here we remove age column
    and Total claim amount
    column
    Normalization
    ⚫ Here our data is normally
    distributed
    Standardisati
    on
    ⚫Standardisation makes all
    variable to a common scale
    Training & testing of
    model
    ⚫Here we split our dataset in train and
    test set. 75% of our dataset is for
    training purpose and 25 % is for
    testing .
    Using Xgboost
    algorithm
    ⚫Here we use X gboost algorithm and
    train the model by 75% of the
    dataset
    Outpu
    t⚫Here we test the model by 25 % of
    the dataset .Where 0 represent
    fraud not happen and 1 represents
    fraud happen
    Conclusion
    ⚫Here we check all suitable
    algorithms for better accuracy and
    found that X gboost has highest
    accuracy among all of them having
    75% accuracy so we used xgboost
    algorithm for further predictions
    Future
    scope
    ⚫In this Project, we learned how
    machine learning can be applied to
    decide which claims are genuine and
    which claims are fraudulent . In future
    it saves time and money for dealing
    with fraudulent claims
    Research
    paper
    ⚫ 1 ] Survey of Insurance Fraud Detection Using Data Mining Techniques H.Lookman
    Sithic, T.Balasubramanian
    ⚫ 2 ] Use of optimized Fuzzy C-Means clustering and supervised classifiers
    for
    automobile insurance fraud detection [ Sharmila Subudhi, Suvasini Panigrahi ]
    ⚫ 3 ] Application of Clustering Methods to Health Insurance Fraud Detection
    Yi Peng1
    , Gang Kou1, *, Alan Sabatka2 , Zhengxin Chen1 , Deepak
    Khazanchi1 ,Yong Shi1
    ⚫ 4 ] CLAIMS AUDITING IN AUTOMOBILE INSURANCE: FRAUD DETECTION
    A N D DETERRENCE OBJECTIVES Sharon Tennyson Pau Salsas-Forn
    ⚫ 5 ] Big Data and Specific Analysis Methods for Insurance Fraud Detection
    Ana- Ramona BOLOGA, Razvan BOLOGA, Alexandra FLOREA
    ⚫ 6] Analytics for Insurance Fraud Detection: An Empirical Study Carol Anne
    Hargreaves* ,Vidyut Singhania* (Business Analytics)Institute of Systems Science,
    N ational University of Singapore, Singapore, Singapor
    THANK
    YOU!

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