Risk Classification of Policy Claim Using Various Boosting Techniques

Tracking #: 884-1864

Authors:


Submission Type: 

Research Paper

Abstract: 

Evaluating the acceptance of an insurance policy requires the underwriter's accuracy in assessing prospective customers' risk profiles. If it is discovered that a prospective customer has a high risk, the policy application will automatically be rejected. It will take time and substantial costs if someone relies on the traditional underwriting process. Therefore, this research tries to apply the boosting machine learning method in classifying the risk level of life insurance policies using data from Prudential Life Insurance Assessment 2015. There are four boosting techniques used, namely multi-class adaptive boosting (AdaBoost), extreme gradient boosting (XGBoost), light gradient boosting machine (LightGBM), and categorical boosting (CatBoost). XGBoost and LightGBM perform best when training through hyperparameter optimization and experimenting on test data; both have a weighted F1 score of 0.48, with LightGBM performing much faster.

Manuscript: 

Tags: 

  • Reviewed

Data repository URLs: 

Date of Submission: 

Tuesday, October 8, 2024

Date of Decision: 

Wednesday, October 16, 2024


Nanopublication URLs:

Decision: 

Reject (Pre-Screening)


2 Comments

Repository Data

Dear Sir,

Can I submit it again with the used data? Thx

Regards,

Erwinna

 

 

Dear Erwinna,

Dear Erwinna,

Yes, you may resubmit a new version.

But you should also clearly state the novelty of your work. Note that applying existing methods on existing data is typically not sufficient in terms of novelty for this journal. There should either be a novel type of dataset being introduced or a novel method being tested.

If you can meet this criteria and provide your data in a repository, we are happy to receive your resubmission.

Regards,

Tobias