Machine Learning and Exploratory Data Analysis in Cross-Sell Insurance

Abstract

Data is playing a central role in the insurance industry. The current journey of insurance industry is conquered by data collection to make future decisions since this is the digital era of the insurance industry in its journey of 700+ years. This chapter focuses on exploratory data analysis (EDA) to identify significant and critical factors to develop business strategy as well as to predict customers' responses in cross-sell health insurance. Response is either acceptance or rejection of a health insurance product offered to existing customers, who may or may not hold policies with the company. Exploratory data analysis (EDA) presents data analysis and visualization from various lookouts to characterize data that can help the insurer in strategic decision making.