Related papers: Prediction of motor insurance claims occurrence as…
Vehicle insurance claims size prediction needs methods to efficiently handle these claims. Machine learning (ML) is one of the methods that solve this problem. Tree-based ensemble learning algorithms are highly effective and widely used ML…
This paper addresses significant obstacles that arise from the widespread use of machine learning models in the insurance industry, with a specific focus on promoting fairness. The initial challenge lies in effectively leveraging unlabeled…
In the current insurance literature, prediction of insurance claims in the regression problem is often performed with a statistical model. This model-based approach may potentially suffer from several drawbacks: (i) model misspecification,…
Since the beginning of their history, insurers have been known to use data to classify and price risks. As such, they were confronted early on with the problem of fairness and discrimination associated with data. This issue is becoming…
Automated Machine Learning has grown very successful in automating the time-consuming, iterative tasks of machine learning model development. However, current methods struggle when the data is imbalanced. Since many real-world datasets are…
The paper introduces a new dataset to assess the performance of machine learning algorithms in the prediction of the seriousness of injury in a traffic accident. The dataset is created by aggregating publicly available datasets from the UK…
For over two decades, detecting rare events has been a challenging task among researchers in the data mining and machine learning domain. Real-life problems inspire researchers to navigate and further improve data processing and algorithmic…
Stroke remains one of the most critical global health challenges, ranking as the second leading cause of death and the third leading cause of disability worldwide. This study explores the effectiveness of machine learning algorithms in…
Many real world data mining applications involve obtaining predictive models using data sets with strongly imbalanced distributions of the target variable. Frequently, the least common values of this target variable are associated with…
Training models on highly unbalanced data is admitted to be a challenging task for machine learning algorithms. Current studies on deep learning mainly focus on data sets with balanced class labels or unbalanced data, but with massive…
Time-series forecasting plays an important role in many domains. Boosted by the advances in Deep Learning algorithms, it has for instance been used to predict wind power for eolic energy production, stock market fluctuations, or motor…
There is growing interest in using safety analytics and machine learning to support the prevention of workplace incidents, especially in high-risk industries like construction and trucking. Although existing safety analytics studies have…
Traditionally, the detection of fraudulent insurance claims relies on business rules and expert judgement which makes it a time-consuming and expensive process (\'Oskarsd\'ottir et al., 2022). Consequently, researchers have been examining…
Machine learning has opened up new tools for financial fraud detection. Using a sample of annotated transactions, a machine learning classification algorithm learns to detect frauds. With growing credit card transaction volumes and rising…
The performance of classification algorithms with a massive and highly imbalanced data stream depends upon efficient balancing strategy. Some techniques of balancing strategy have been applied in the past with Batch data to resolve the…
Recent transformative and disruptive advancements in the insurance industry have embraced various InsurTech innovations. In particular, with the rapid progress in data science and computational capabilities, InsurTech is able to integrate a…
Underwriting is one of the important stages in an insurance company. The insurance company uses different factors to classify the policyholders. In this study, we apply several machine learning models such as nearest neighbour and logistic…
Classification data sets with skewed class proportions are called imbalanced. Class imbalance is a problem since most machine learning classification algorithms are built with an assumption of equal representation of all classes in the…
Insurance industry is one of the most vulnerable sectors to climate change. Assessment of future number of claims and incurred losses is critical for disaster preparedness and risk management. In this project, we study the effect of…
With growing credit card transaction volumes, the fraud percentages are also rising, including overhead costs for institutions to combat and compensate victims. The use of machine learning into the financial sector permits more effective…