ANALYZING AND CATEGORIZING THE VARIABLES: North Wales PA 19454 Rented house, in the zipcode area of the customer. When your caravan is being towed, your car insurance policy often only extends to third party cover, so any damage to the caravan itself would be covered under your caravan insurance. Participants are supposed to return the list of predicted targets only. Learn more. Statistical Analysis of Caravan Insurance using IBM SPSS Dataset with 16 projects 1 file 1 table. The CPOL is our gift to the community. In the previous post, we talked about using several feature selection methods like forward/backward stepwise selection and lasso regularisation to. Cross-selling is one of the most successful techniques of marketing in the modern days where a company aims at selling additional products/services among existing customers. Many Git commands accept both tag and branch names, so creating this branch may cause unexpected behavior. Since, it is critical for my analysis to correctly classify success class observations, the most important performance measures to consider is sensitivity and PPV. Games, G., Witten, D., Hastie, T., and Tibshirani, R. (2013) An Introduction to Statistical Learning with applications in R, www.StatLearning.com, Springer-Verlag, New York. You are allowed to use this dataset and accompanying information for non commercial research and education purposes only. and was used in the CoIL Challenge 2000. Clipping is a handy way to collect important slides you want to go back to later. 1-2, pp. 2000: The Insurance Company Case. There are 2,000 questions and 3,354 answers in the validation set. A couple of those organizations include: * Insurance Information Institute * National Association of Insurance Commiss. interested in buying caravan insurance and predict a model with the given 86 variable values CUST_SUB_LIFESTYLE_REFLECTION: Which existing customers also tend to buy the caravan mobile home insurance policy? All customers living in areas with the Following Amelia, let's look at the ISLR Caravan example (pp. 2.1. How To Reimage Your Computer Windows 10 - How to check the Windows 10 Creators Update is installed - How to reimage a mac computer. existing customers and caravan mobile home insurance buyers and some corresponding general characteristics. Additionally, Caravan provides code to derive meteorological forcing data and catchment attributes in the cloud, making it easy for anyone to extend Caravan to new catchments. A test dataset contains another 4000 customers whose information will be used to test the effectiveness of the machine learning models. Australian Caravan Insurance is a trading brand of . Business purposes are excluded. Attribute 86, "CARAVAN:Number of mobile home policies", is the target variable. If its not possible to store your caravan at home, consider a secure storage site one thats got high fencing around the perimeter, access control and CCTV. An Introduction to Statistical Learning with applications in R, As consulted with one of my connections who is a subject matter expert with respect to insurance cross-selling, I learnt that the ratio of costs of FP to that of FN is around 1:18. Published by Sentient Machine Research, Amsterdam. This might have been done to utilize all the observations and at the same time, keep the number of rows in the dataset to be manageable. This will load the data into a variable called Caravan. A completed project by the Insurance Risk and Finance Research Centre (www.IRFRC.com) hasassembled a unique dataset from Large Commercial Risk losses in Asia-Pacific (APAC) coveringthe period 2000-2013. A test set contains 4000 customers of whom only the organisers know if they have a caravan insurance policy. P. van der Putten and M. van Someren. Attribute 86, "CARAVAN:Number of mobile home policies", is the target variable. So, for example, if your air conditioning motor breaks down, the insurance covers repair costs. You signed in with another tab or window. This dataset is not set up as individual customer observations and each row represents a group of customers i.e., a large sample size. Insurance datasets - risk assessment & location data for accurate pricing Data Guide Insurance Data Guide > industry > Insurance Back Insurance Write profitable business with the most accurate location data for insurance Detect risk that others miss Pinpoint pockets of opportunity and better understand risk Provide accurate and competitive pricing The sociodemographic data is derived from zip codes. Follow this guide for more information on how to share your data with the community. Our Products. The corresponding data visualizations can be observed in the uploaded jupyter notebook. product usage data and socio-demographic data derived from zip area codes supplied by the Dutch based on family status and age. In 2019, 14.5% of adults aged 18-64 were uninsured at the time of interview, 20.4% had public coverage, and 67.5% had private health insurance coverage. Are you sure you want to create this branch? The accuracy of our model using testing dataset is 79.7% in which it's sensitivity was 81.74% and specificity 47.48%. [View Context].Stefan R uping. Each record consists of 86 variables, containing sociodemographic data (variables 1-43) and product ownership (variables 44-86). The caravan of migrants hoping to gain entry into the United States has been the subject of much controversy in recent days. Compute static catchment attributes on Google Earth Engine. OpenIntro documentation is Creative Commons BY-SA 3.0 licensed. This data set includes 85 predictors that measure demographic characteristics for 5,822 individuals. same zip code have the same sociodemographic attributes. According to Public Law 113-235 Dec. 16, 2014, the Census Bureau was to "collect data for the Annual Social and Economic Supplement to the . To achieve reliable data results, start by balancing data correctly based on a specific business objective before training a predictive model. - Middle aged family men (2, 3, and 4) In 2000, a Europe insurance company that offered various insurance services including life, auto, boat insurances to a large customer faced this challenge of cross-selling where the companys newest service Caravan insurance policy turned to be disappointing in terms of sales. As per the current situation the company has to approach all 4000 customers with the policy. A lot of new caravans are fitted with an AL-KO axle wheel lock receiver, so purchasing the locking part for this is an excellent alternative to a separate wheel clamp and will give a superb level of security. The company wants to spend 10% per unit of revenue to cross selling (marketing plus penetration pricing) and achieve maximum profit by balancing cost and target numbers. If youve had previous experience towing a caravan or trailer tent, your insurance company may offer an introductory bonus discount off your premium when you take out cover. Postprocess the Earth Engine outputs locally and to combine it with streamflow, as well as to compute some additional climate indices. Other variables are mainly sociodemographic data and product ownership and for simplicity, we treat them as numerical data. consists of 86 variables, containing sociodemographic data (variables Out of the 86 attributes, two are categorical, 83 are numerical and one is the class/target variable (Caravan Insurance Purchased). While searching for this topic online, you will find there are three aspects. Answer: I'm not quite sure what you mean by "open datasets" but I would start with calling the major organizations that gather and disburse insurance statistical information. as follows Question: Consider the insurance company case. Most caravan insurance companies will require some form of minimum security. See http://www.liacs.nl/~putten/library/cc2000/ However, numerous efforts and solutions are already in place for answering this question, I tend to focus more on my second part of the analysis, which is devising a go to market strategy. Work fast with our official CLI. If you need to download R, you can go to the R project website. The dataset we used consists of 9,822 customer records and includes sociodemographic data of the area where a customer lives and product ownership data of the customer. We've encountered a problem, please try again. You are allowed to use this dataset and accompanying information for non commercial research and education purposes only. Variable 86 Caravan is an open community dataset of meteorological forcing data, catchment attributes, and discharge data for catchments around the world. I attempt to answer this question by my fast part of the analysis. Anyone, with as little as streamflow records and catchment boundaries of one (or more) basins, can contribute to extending the Caravan dataset to new regions. Format 0330 094 5256. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) to find out more. It is further divided into a training set (5822 observations) and a test set (4000 observations). A simple alarm, for example, can save you 5% off your premium. that is required to extend Caravan to any new location for free in the cloud. Customer sub type MOSTYPE variable has 41 value types which can be categorised under two broad Lay-up cover. You can load the Caravan data set in R by issuing the following command at the console data("Caravan"). P. van der Putten and M. van Someren (eds) . We all know that making a claim on our insurance can result in our premium going up at renewal . The reason there is a gap, though, is. Download: Data Folder, Data Set Description, Abstract: This data set used in the CoIL 2000 Challenge contains information on customers of an insurance company. Recapping from the previous two posts, this post will utilise machine learning algorithms to predict customers who are mostly likely to purchase caravan policy based on 85 historic socio-demographic and product-ownership data attributes. Science Technical Report 2000-09. If nothing happens, download GitHub Desktop and try again. This is something that should be kept in mind and taken care of when using this rule. #reimagewindows10how easy to do to reimage the hp elitebook 1040 using windows 10 on my work.thanks for watching. We've updated our privacy policy. be obtained at http://www.liacs.nl/~putten/library/cc2000/data.html. Specialist caravan insurance can also come . Source Security All customers living in areas with the same zip code have the same sociodemographic attributes. The data was supplied by the Dutch data mining company Sentient Machine Research and is based on a real world business problem. Our main vision with Caravan is that this dataset will grow over time. We all know that making a claim on our insurance can result in our premium going up at renewal, so if you can keep yourself claim free on your caravan insurance, you wont see an additional charge imposed by your insurance company. understanding of the insurance product and the product buyers. Caravan insurance policies in New Zealand typically cover you if you're living in, towing, parking, garaging or storing a caravan. Now, I have calculated the profits associated with each of my models for classification cutoff values ranging from 0 to 1. After under sampling the number of non-success class observations in the training dataset, I re-ran my six classification models and noticed an overall improvement in the performance measures associated with correctly identifying the success class observations. Club membership If R says the Caravan data set is not found, you can try installing the package by issuing this command install.packages("ISLR") and then attempt to reload the data. The Insurance Company (TIC) Benchmark Description The data contains 5822 real customer records. Insurance companies recognise that caravan owners who join these clubs are generally more interested in looking after their caravan, and take caravan safety more seriously, so as a member you could get up to 10% with some insurers! Examples, The data contains 5822 real customer records. Still not convinced? variables to significant predictors as below This repository is part of the Caravan project/dataset. We also used Ensemble methods including Bagging, Boosting and Random Forest for improving on single tree classifier models. We extract and analyze the raw variables with labels and try to categorize the variables based on the The dataset consists of 5822 records of customer data collected by the insurance company on 85 different socio-demographic and product-ownership data features. Pros and cons. This report is intended to understand characteristics of a caravan insurance policy buyer. The dataset used is from the CoIL Challenge 2000 datamining competition. There are 12,889 questions and 21,325 answers in the training set. Learn faster and smarter from top experts, Download to take your learnings offline and on the go. Fig 3: Derived Variables 3.8 Balancing the training data It has been noticed that the training dataset is not highly representative of positive cases i.e.CARAVAN=1. Variable 86 (Purchase) indicates whether the customer purchased a caravan insurance policy. Please Additionally, Caravan provides code to derive meteorological forcing data and catchment attributes in the cloud, making it easy for anyone to extend Caravan to new catchments. Caravan is an open community dataset of meteorological forcing data, catchment attributes, and discharge data for catchments around the world. Variable 86 (<code>Purchase</code>) indicates whether the customer . Using this analysis, I suggest situation based models to apply based on their costs and different go to market strategies. https://www.statlearning.com, The Caravan Insurance Challenge was posted on Kaggle with the aim in helping the marketing team of the insurance company to develop a more effective marketing strategy. sign in Additional security and safe storage are great for when your caravan is not is use but what about when youre towing your caravan? The data was supplied by the Dutch data mining company Sentient Machine Research and is based on a real world business problem. Transforming classifier scores into accurate multiclass probability estimates. Now customize the name of a clipboard to store your clips. 177-195, Kluwer Academic Publishers 1-43) and product ownership (variables 44-86). (1,6,7,10,11,14,16,17,18,19,20,21,22,24,26,28,29,30,31,32,33,34,35,37,38,39,40,41) 12, 13, 23, 25, 36, 2, 3, 4, 5, 15, and 27) It is explicitly not allowed to use this dataset for commercial education or demonstration purposes. CaSSOA is a scheme that grades storage sites as Gold, Silver and Bronze quality so look out for gold sites to give the best insurance discounts. Analytics Vidhya is a community of Analytics and Data Science professionals. Epgp09 10 - term v - prm - group ii - pricing in-insurance_industry - project Profiling banking customers - Insurance and Pension Products, Caravan insurance data mining prediction models, Nano Based Polymers and Applications in Drug Delivery, 2017 Top Issues - Changing Business Models - January 2017. If nothing happens, download Xcode and try again. classes which relate to their age, social class, life style and reflection towards investing or spending Note that the confidence of this rule is 1, however, given the unbalanced nature of this dataset, the best support I could obtain was around 0.0012. It appears that you have an ad-blocker running. Usage What is Healthcare Insurance Data Healthcare Insurance Dataset Insurance Database - MedicoReach used for? The UCI KDD Archive of Large Data Sets for Data Mining Research and Experimentation. James, G., Witten, D., Hastie, T., and Tibshirani, R. (2013) 1. Once insured you will be able to build your caravanning no claims bonus and thus discount this could get you up to 20% off a quote for three years claim free caravanning. Datasets are usually for public use, with all personally identifiable information removed to ensure confidentiality. One instance per line with tab delimited fields. Out of a total of 238 actual mobile home policy customers, our model . Lines open Mon-Fri 9am-5.30pm. - Middle and Upper Class, middle aged and senior citizens, high risk cultured liberal investors (8, 9, For taking advantage of different classification algorithms and improving performance measures of my classification, I used multiple classification algorithms including Logistic Regression, K-NN classification and Nave Bayes Classification. The insurance company dataset (TIC), which we mine in this paper, was used in the COIL 2000 challenge. Data Mining of Caravan Insurance Data Set Using R. Use Git or checkout with SVN using the web URL. For my first part of the analysis, the initial data visualizations indicate that the buyers of caravan mobile home insurance policies also tend to buy car policies and fire policies. TICDATA2000.txt: Dataset to train and validate prediction models and build a description (5822 customer records). Now, I built the above six classification techniques on three separate test data frames: the unbalanced dataset, under sampled dataset and the over sampled dataset i.e., in effect, I now have performance measures of 18 different models for comparing and evaluating purposes. Note that the most significant part of my analysis is to identify the success class observations correctly, and hence, the two most important performance features for us are PPV and sensitivity. SIGKDD Explorations, 2. 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This visualization can be observed in the notebook and I see that my model logistic regression on the unbalanced dataset turns out to be the most profitable model out of the all 18 models at an optimal cutoff value. The first 43 attributes are demographic and social data, whereas, the remaining 43 variables are insurance product usage related data which indicate customers of the companys existing policies such as fire, boat, life, etc. A tag already exists with the provided branch name. On this R-data statistics page, you will find information about the Caravandata set which pertains to The Insurance Company (TIC) Benchmark. STATISTICAL ANALYSIS The data consists of 86 variables and includes product usage data and socio-demographic data derived from zip area codes. There was a problem preparing your codespace, please try again. There are two levels of caravan insurance for tourers and statics: New for old - If your caravan is damaged beyond repair or stolen, new for old cover will pay out the value of a brand new, equivalent model, providing the sum insured reflects the value of the caravan as new. Whether you own a touring caravan or a static caravan, you could be glad of having caravan insurance in place if something goes wrong. There are 2,000 questions and 3,308 answers in the test set. Devices such as the AL-KO ATC or BPW IDC offer extra stability when towing and breaking, meaning youre less likely to experience snaking which can lead to a catastrophic and costly accident. It insures you against things like bad weather, accidental damage, theft and vandalism. The "insurance protection gap" totalled $84bn in uninsured losses (compared to $56bn) in 2019 according to Swiss Re so there is a lot of untapped potential. Additionally, the cost factor associated with all my models is more important than the corresponding performance measures, as costs of False Positives and False Negatives in this business case is nowhere close to equal.