Project

Data Visualization Using Tableau

Car Claim Insurance Analysis

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By: Avinash Kumar Ray
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Project Objective

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 The objective of the project is to explore “Car claims for insurance.xlsx” dataset and de-
velop a clear logical story. Tableau Public software shall be used for analyzing the data. For this
purpose, I have assumed that the insurance company wants to increase their business in terms
of scale and profitability and wants some insights by exploring the historic data. The dataset
contains the following variables:

Variables Description
ID Id of customer
KIDSDRIV Total No of kids the car driver has
BIRTH Date of birth
HOMEKIDS No of kids the driver has at home
Year in which the car owner applied for the car insurance policy (0 means insurance
was applied for while the car is brand new, 10 means insurance was applied for in
YOJ the 10th year of car ownership)
INCOME Income
PARENT1 If car owner has his parents

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HOME_VAL Value of the house owned

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MSTATUS Marital status

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GENDER Gender

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EDUCA-

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TION Education level
OCCUPA-
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TION Occupation level
TRAVTIME Travel time taken in minutes (On an average)
CAR_USE Purpose of using the car
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BLUEBOOK What is the worth of the car

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CAR_TYPE Car type

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OLDCLAIM Previous claim

CLM_FREQ How often claimed
CLM_AMT Current Claimed amount
CAR_AGE Age of car
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URBANIC-
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ITY Where the car is being driven primarily

Relationship between these variables shall be studied and insights shall be drawn to help the
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insurance company to improve their business. The objective is to find insights in the Car Insur-
ance data using Tableau for in-depth decision making and customer service.
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This study source was downloaded by 100000824505813 from CourseHero.com on 11-30-2021 01:22:47 GMT -06:00

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 URL:
https://public.tableau.com/profile/avinash.ray6936#!/vizhome/Car-
ClaimInsuranceAnalysis-Tableau/CarVehiclestypeStory?
publish=yes

Car Vehicles Type Story

1. Car Vehicles Type: SUV is contributing to the highest amount of Claim Amount [30.5%]
but the average Claim Amount in case of a Sports Car is the highest.
2. The Frequency of a Claim is the highest for a sports car closely followed by Panel Truck
even though the total amount claimed is highest for an SUV (previous chart). This is an
important parameter to determine the percentage of sports car that an Insurance com-
pany can undertake as the Average Claim amount is the highest and they seem to need

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frequent claims.

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3. Females are contributing to the highest number of Claim Amount for SUV [31.2%]

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4. Private vehicles have contributed to more Claim Amount than Commercial vehicles

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5. High School graduates have claimed more than any other Education Degree holder.
6. Doctors seem to have the lowest number of Claim Amount all across Car Types

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7. High School graduates especially females contributed to the highest amount of Claim
Amounts.
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8. Final Treemap with only few of the critical dimensions which can form huge segments:
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Claim Frequency Story

1. Car type vs Claim Frequency: Sports car seems to have the highest number of Claims
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while Minivan the lowest.

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2. Claim Frequency vs Occupation: Students had applied for Claims most frequently
3. Claim Freq vs Income Group: We notice that the lowest income group has claimed the
highest number of times but the amount claimed is less compared to other users.
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YOJ Story
Let us analyze the YOJ – Year of application of insurance. The lower the value, the better it is.
1. According to Income Range: We notice that the lowest income bracket were the quickest
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to get a Car insurance. This may be due to the fact that in case of any accidents/engine
maintenance, the costs are extremely high without the insurance.

2. YOJ with respect to Occupation: We notice that Students and Home makers were the
ones who rushed to make an insurance faster than the others. This is because the costs
of repair without insurance are very high.

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 3. YOJ with respect to the Type of Car: We notice that Sports car owners were faster than
the others to get insurance for their cars. This is due to the fact that maintenance of
sports car is more expensive and the average claims and the frequency of claims is also
very high.

4. YOJ with respect to Education: High School graduates were faster than their peers in get-
ting a car insurance.

Dashboard

This dashboard is used to trial and analyze most of the dimensions and measures at one go and
we can easily get the dimensions which have most impact.

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Summary & Conclusion:

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1. Sports car need to be carefully considered before finalizing as the average amount per

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car is very high and the frequency of Claims is also very high. The total number of Sports
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cars out of total types of cars should not exceed 16% otherwise there are chances of in-
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curring losses to the Insurance company.
2. Special plans can be designed for Students and Low Income range users who are just
starting out as their Claim Amount is less as well as frequency of Claims. Hence this is
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good for publicity.

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3. Doctors and Lawyers seem to have the lowest Claim amount and hence can be consid-
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ered for any special bonuses/schemes as well.

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This study source was downloaded by 100000824505813 from CourseHero.com on 11-30-2021 01:22:47 GMT -06:00

https://www.coursehero.com/file/73339881/Project-Avinash-Ray-DVT-Car-Insurancedocx/
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