DATA MINING APPROACH TO MODELLING POLICYHOLDER'S CLAIM BEHAVIOUR

Anna Kohlmayr and Nick Scerbakov
Additional contact information
Anna Kohlmayr: Department of Informatics, Graz University of Technology, Graz, Austria
Nick Scerbakov: IICM, Graz University of Technology, Graz, Austria

Chapter 21 in Knowledge Management:Innovation, Technology and Cultures, 2007, pp 243-254 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe goal of this paper is to demonstrate how the techniques of data mining can be applied in personal accident insurance. Specifically, a personal accident claims database of a major national insurance company is analysed to aid in pinpointing patterns in policyholders' claim behaviour and evaluating claim trends. The policyholder's claim behaviour is described in terms of the major parameters of the claim sequence model. To support insurer's decision-making, we also consider the probability aspect of the claim distribution in the personal accident insurance. Furthermore, the ratio of premium revenues to claim payments is examined with the purpose of exploring the potential for improvement in the claim handling process. This paper suggests a novel approach to modelling policyholder's claim behaviour. Using this approach, scalable and effective measures for analysis and monitoring insurance customer's claim behaviour are introduced. Non trivial results are obtained. The proposed model and the results are empirically verified. Application of the results of this type of analysis is presented.

Keywords: Knowledge Management; Knowledge Sharing; Knowledge Discovery; KM Tools and Technologies; Communication and Organization Culture (search for similar items in EconPapers)
Date: 2007
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789812770592_0021 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789812770592_0021 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789812770592_0021

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().