Health insurance prediction using machine learning

About

In the field of healthcare, costs are a significant factor, and some patients may present a greater financial strain than others. There are a lot of factors that go into making one customer more expensive than another, and if a company can figure out why some customers are more expensive than others, they will see a significant increase in their bottom line. The HMO is able to set the premium plans up correctly, which allows for more effective management of the firm. This document presents our research into leveraging data science (exploratory data analysis as well as prediction models) to anticipate how and why some people have higher bills and deliver actionable insights to Health Management Organizations to help them make better decisions.

Contribution

After analysing the data we came up with a few recommendations which can make it less expensive for the customers and help the HMO.