Car Insurance Policies Analysis

Challenge Details: The Data DNA – Dataset Challenge by Onyx Data provided participants with a unique opportunity to explore a diverse dataset and extract meaningful insights. The dataset comprised various dimensions, including insurance claim records, policyholder demographics, and claim amounts.

Insights:

· The overall claim ratio is reported at 51%. This indicates that, on average, 51% of insurance policies result in claims being filed by the policyholders.

· The average claim amount is observed to be 50K.

· The mean age of insurance policyholders is 47 years, providing an insight into the age demographic of the insured population.

· Gender-wise, claims are nearly balanced between male and female policyholders, with 49.5% of claims made by males and 50.5% by females.

· The majority of claims, approximately 80%, are made by private car owners, indicating that private car insurance constitutes a significant portion of the total claims.

· Interestingly, among various customer categories, it is observed that customers with “single” marital status make the highest number of claims compared to other customer types.