Data Mining / Live Data

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Data Mining

Our platform explores data in search for consistent patterns and systematic relationships between variables and then validates the findings by applying the detected patterns to new subsets of data. Data mining for insurance will ensure that an individual’s premiums are based on comprehensive facts and accurate trend analyses, rates will be determined more fairly and with a higher degree of precision.

Data mining and statistical analysis are used to dig deep into the “big picture” of who an individual customer is, and pinpoint which types of insurance policies that he or she is most likely to buy. Age, gender, ethnicity, marital status, income levels, spending habits, family size, lifestyle choices – all of these factors and many more can be analyzed and organized into a report that tells insurers who to approach for the sale or up-sale of insurance policies. Not only is this good for the insurance business, but it’s also beneficial to the insured.

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Live Data

Text mining extents the train dataset given to the machine learning module to contain not only the traditional structural information but also “live“ data automatically extracted from the web or other sources using complex data and text mining techniques.

Live Data could include: drivers’ living conditions (weather information, altitude, population density), number of traffic incidents for any given date, traffic density, car characteristics, etc. Open data sources from public available sites and police records can be used for extracting this valuable information.

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