Analytics Used Case

Business Objective

Companies in insurance sector work with the objectives of granting security to people, minimisation of losses, diversifying the risk , mobilization of savings and reducing the anxiety and fear
of people. Along with all these, they also focus on-

Providing Insurance for People who cannot afford the insurance at higher rate.
Encourage Insurance and to avoid uncertainty.

For instance Insurance targeting :

Large in numbers - Protect

against natural disasters/
Crop Events
Lower Income People insurance Small
and marginal
Rs 10 insurance
farmers
monthly Covid related
cases

Providing health
insurance
Promoting cultural ,
Short protects projects from
film producers liability claims
Ammature sports Their career is
person volatile and
unpredictable

AKANSHA| BALAKRISHNAN| KARTHIK| KRUNAL| SATYAM| VISHAL

 Challenges

Identifying Lower Income households and businesses - People may provide false certificate
- Income Tax not filed
` - Large Population -
- Research into the financial Statements of promising customers
- Cash transactions cannot be Audited

Difficulty in assessing the authenticity of the claim - Credibility of the certificates

Processing the insurance - Large data to be processed

- Operation Cost = cost of high cost insurance
- Human resource = same Human resource in bigger insurance places

How to deal with Defaults and late payments - A structured solution to be identified
For instance - interest on late payment

Educating lower income people on insurance - Most customers might be less informed on the benefits of insurance
- Technical terms are a hindrance

AKANSHA| BALAKRISHNAN| KARTHIK| KRUNAL| SATYAM| VISHAL

 Methodology

➢ Descriptive Analysis can be used in identifying people with low income. As we have to analyze lots of financial
Methodology to data to find out low income people
Identify Low Income ➢ We can analyze the pan details and bank transactions to find out their financial transactions
People ➢ We can use BI(Business Intelligence) and other visualizations tools to these analysis
➢ This would help in identifying the proper candidates

➢ Behavior analysis can be used for providing insurance to Amature sports persons
Methodology for ➢ We can analyze the data from the health monitors to identify their playing patterns and fitness details to have a
Sports Insurance better knowledge about them
➢ Mixpanel, Heap and Amplitude are some of the behavioural tools which can be used for this

➢ Predictive analysis - this tool can be used in forecasting climate patterns based on the past climate data and help in
Methodology to use predicting the climate and crop growth cycle
for Crop Insurance ➢ Tools like SAP Predictive analysis , H2O and Oracle Data Science would be very helpful in predicting such
patterns

AKANSHA| BALAKRISHNAN| KARTHIK| KRUNAL| SATYAM| VISHAL

 Business Impact

Ease in mitigation - Analyzing the data before providing insurance would help in reducing risk

Diversity in demography - We
Expanding customer base - India
Better establishment and Large collective profits - would be covering a large
is a huge country with huge
Market positioning - It would Even if we provide low population over various
population and most of the
help in establishing the cost insurance we would be geography, so it will help in
people are not insured, Providing
company as a household name covering a large better revenue generation and
low cost insurance would help in
in the nation Vestibulum congue population so collectively reduce risk
providing insurance to a large
we will have large profits
population and provide a large
customer base

AKANSHA| BALAKRISHNAN| KARTHIK| KRUNAL| SATYAM| VISHAL

Visualization Challenge
Data Set
Find the top Six Country which have lost the highest proportion of its forest in land between 2014 to 2016? Please provide
Visualization in % of how much forest area has been lost during the time
Drop in Forest Area - Top 6 countries
0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0%

Philippines 6.2%

Top 6 countries losing the highest proportion of forest

land
• Philippines Iceland 5.4%
• Iceland
• Azerbaijan
• Sierra Leone
• Chile Azerbaijan 4.7%
• Cuba

Sierra Leone 4.3%

Chile 3.5%

Cuba 3.4%
How many countries have shown a continuous growth in Agricultural Land from 2014 to 2016 and Provide Visualization of %
growth in Agricultural Land for the same ?
20 countries have shown continues growth in
agricultural area. Countries with continues growth in agricultural area
4.5%
• New Zealand
• Italy 4.0%
• Korea, Rep.
• Netherlands 3.5%

• Serbia
3.0%
• Mongolia
• Spain 2.5%

• Costa Rica
2.0%
• Israel
• Belarus 1.5%
• Greece
• Japan 1.0%

• Denmark
0.5%
• Cuba
• Czech Republic 0.0%
an
d l y p. ds rbia olia in ca rael us ece pan ar
k ba lic xico ey and ay nce
al Ita Re rlan pa Ri ar e Cu pub rk l w
• Mexico Ze a , S e
on
g S
st
a Is
Be
l
G r J a nm
M
e T u e r
No
r
Fr
a
re ethe De Re itz
w Ko
M Co h Sw
Ne N ec
• Turkey Cz

• Switzerland
Growth 14-15 Growth 15-16
• Norway
• France
Identify the country that has the 5th highest percentage increase in per capita electric consumption in the year 2013-14 and
Provide Visualization of power generation distribution for the same country ?

Consumption distribution of Angola

60.67

Angola has the 5th highest percentage

increase in per capita electric 100.00
consumption in the year 2013-14

39.33

coal hydroelectric natural gas

nuclear sources oil Total
Which country has the highest % of Population decline from 2015 to 2019 ? Provide the Visualization of Population of the
same country over 2015 to 2019

Population decline in Pureto Rico

3500000
3473232
3450000

3400000 3406672

3350000
•Puerto Rico has the highest % of 3325286
3300000
Population decline from 2015 to 2019
3250000

3200000 3193354 3193694

3150000

3100000

3050000
2015 2016 2017 2018 2019
Thank You !