ISSN: 2265-6294

ADVANCING INSURANCE INSIGHTS: OPPORTUNITIES FOR PREDICTIVE ANALYTICS IN POLICY DATABASES

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ELIGETI SAI KRISHNA, GOLLE SINDHU, CH.SAMPATH REDDY

Abstract

The Indian economy greatly benefits from the insurance industry. The insurance sector is growing due in part to a strong economy, increased regulatory control, reduced prices, enhanced accessibility, and a wealth of data. The insurance industry in India is growing quickly. The rivalry in the Indian life insurance market is fierce. Among India's numerous insurance companies, the Life Insurance Corporation of India (LIC) is the market leader and is supported by the government. The aim of this study was to use data mining techniques to investigate the preferences, key variables, and crucial factors that affect a certain demographic's choice of insurance products. This degree of comprehension enhances product development and LIC (Life Cycle Management) by enabling more precise forecasts of future customer needs.

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