METHODS FOR ANALYZING INSURANCE DATA AND DEVICES THEREOF
Vehicle insurance claim data is categorized into a plurality of strata. The categorized vehicle insurance claim data is mapped to corresponding geographic regions and aggregated. When the number of samples in the aggregated data meets a sampling threshold size, the aggregated data is clustered into clusters based on certain criteria and sampled to generate component synthetic peer data sets. A synthetic peer data set is generated by applying a bootstrap aggregation machine learning algorithm on the plurality of component synthetic peer data sets. The performance of a target vehicle insurance company is analyzed by comparing target vehicle insurance claim data of the target vehicle insurance company with the synthetic peer data set. The results of the comparison between the target vehicle insurance claim data and the synthetic peer are presented in a graphical representation.
1 . A method comprising:
obtaining, by a computing device, vehicle insurance claim data from a plurality of data sources, the data sources corresponding to a plurality of sample insurance carriers in a plurality of geographic regions, the vehicle insurance claim data specifying a vehicle data, geographic data related to the vehicle data, and time data representing time periods during which the vehicle data was recorded;
categorizing, by the computing device, the obtained vehicle insurance claim data into a plurality of strata;
mapping, by the computing device, the categorized vehicle insurance claim data to corresponding geographic regions;
aggregating, by the computing device, the categorized vehicle insurance claim data based on the mapped geographic regions;
determining, by the computing device, a sampling threshold value for sampling the aggregated vehicle insurance claim data based on one or more threshold rules;
upon determining that the number of samples in the aggregated vehicle insurance claim data meets the determined sampling threshold size, clustering, by the computing device, the aggregated vehicle insurance claim data into a plurality of clusters based on at least one of the vehicle data, the geographic data, and time data according to a data clustering algorithm;
generating, by the computing device, a plurality of component synthetic peer data sets by sampling the clustered aggregated vehicle insurance claim data;
generating, by the computing device, a synthetic peer data set by applying a bootstrap aggregation machine learning algorithm on the plurality of component synthetic peer data sets, wherein the synthetic peer data set is more accurate and stable than the component synthetic peer data sets;
analyzing, by the computing device, performance of a target vehicle insurance company by comparing target vehicle insurance claim data of the target vehicle insurance company with the synthetic peer data set; and
presenting, by the computing device, results of the comparison between the target vehicle insurance claim data and the synthetic peer in a graphical representation.
2 . The method of claim 1 , wherein the categorizing, by the computing device, the obtained vehicle insurance data is based on one or more data categorizing rules.
3 . The method of claim 1 , further comprising:
performing, by the computing device, data validation to the generated sample vehicle insurance sampling data.
4 . The method of claim 1 further comprising:
integrating, by the computing device, with an insurance claim application executing in the plurality of data sources to obtain the vehicle insurance claim sampling data.
5 . The method of claim 1 further comprising:
generating, by the computing device, a subset of vehicle insurance data from the obtained vehicle claim data by removing invalid vehicle insurance data and vehicle insurance data including one or more null values.
6 . The method of claim 1 , wherein the strata including a vehicle data stratum, a geographic data stratum, and a time data stratum.
7 . A system, comprising:
a hardware processor; and
a non-transitory machine-readable storage medium encoded with instructions executable by the hardware processor to perform operations comprising:
obtaining, by a computing device, vehicle insurance claim data from a plurality of data sources, the data sources corresponding to a plurality of sample insurance carriers in a plurality of geographic regions, the vehicle insurance claim data specifying a vehicle data, geographic data related to the vehicle data, and time data representing time periods during which the vehicle data was recorded;
categorizing, by the computing device, the obtained vehicle insurance claim data into a plurality of strata;
mapping, by the computing device, the categorized vehicle insurance claim data to corresponding geographic regions;
aggregating, by the computing device, the categorized vehicle insurance claim data based on the mapped geographic regions;
determining, by the computing device, a sampling threshold value for sampling the aggregated vehicle insurance claim data based on one or more threshold rules;
upon determining that the number of samples in the aggregated vehicle insurance claim data meets the determined sampling threshold size, clustering, by the computing device, the aggregated vehicle insurance claim data into a plurality of clusters based on at least one of the vehicle data, the geographic data, and time data according to a data clustering algorithm;
generating, by the computing device, a plurality of component synthetic peer data sets by sampling the clustered aggregated vehicle insurance claim data;
generating, by the computing device, a synthetic peer data set by applying a bootstrap aggregation machine learning algorithm on the plurality of component synthetic peer data sets, wherein the synthetic peer data set is more accurate and stable than the component synthetic peer data sets;
analyzing, by the computing device, performance of a target vehicle insurance company by comparing target vehicle insurance claim data of the target vehicle insurance company with the synthetic peer data set; and
presenting, by the computing device, results of the comparison between the target vehicle insurance claim data and the synthetic peer in a graphical representation.
8 . The system of claim 7 , wherein the categorizing, by the computing device, the obtained vehicle insurance data is based on one or more data categorizing rules.
9 . The system of claim 7 , the operations further comprising:
performing, by the computing device, data validation to the generated sample vehicle insurance sampling data.
10 . The system of claim 7 , the operations further comprising:
integrating, by the computing device, with an insurance claim application executing in the plurality of data sources to obtain the vehicle insurance claim sampling data.
11 . The system of claim 7 , the operations further comprising:
generating, by the computing device, a subset of vehicle insurance data from the obtained vehicle claim data by removing invalid vehicle insurance data and vehicle insurance data including one or more null values.
12 . The system of claim 7 , wherein the strata including a vehicle data stratum, a geographic data stratum, and a time data stratum.
13 . A non-transitory machine-readable storage medium encoded with instructions executable by a hardware processor of a computing component, the machine-readable storage medium comprising instructions to cause the hardware processor to perform operations comprising:
obtaining, by a computing device, vehicle insurance claim data from a plurality of data sources, the data sources corresponding to a plurality of sample insurance carriers in a plurality of geographic regions, the vehicle insurance claim data specifying a vehicle data, geographic data related to the vehicle data, and time data representing time periods during which the vehicle data was recorded;
categorizing, by the computing device, the obtained vehicle insurance claim data into a plurality of strata;
mapping, by the computing device, the categorized vehicle insurance claim data to corresponding geographic regions;
aggregating, by the computing device, the categorized vehicle insurance claim data based on the mapped geographic regions;
determining, by the computing device, a sampling threshold value for sampling the aggregated vehicle insurance claim data based on one or more threshold rules;
upon determining that the number of samples in the aggregated vehicle insurance claim data meets the determined sampling threshold size, clustering, by the computing device, the aggregated vehicle insurance claim data into a plurality of clusters based on at least one of the vehicle data, the geographic data, and time data according to a data clustering algorithm;
generating, by the computing device, a plurality of component synthetic peer data sets by sampling the clustered aggregated vehicle insurance claim data;
generating, by the computing device, a synthetic peer data set by applying a bootstrap aggregation machine learning algorithm on the plurality of component synthetic peer data sets, wherein the synthetic peer data set is more accurate and stable than the component synthetic peer data sets;
analyzing, by the computing device, performance of a target vehicle insurance company by comparing target vehicle insurance claim data of the target vehicle insurance company with the synthetic peer data set; and
presenting, by the computing device, results of the comparison between the target vehicle insurance claim data and the synthetic peer in a graphical representation.
14 . The non-transitory machine-readable storage medium of claim 13 , wherein the categorizing, by the computing device, the obtained vehicle insurance data is based on one or more data categorizing rules.
15 . The non-transitory machine-readable storage medium of claim 13 , the operations further comprising:
performing, by the computing device, data validation to the generated sample vehicle insurance sampling data.
16 . The non-transitory machine-readable storage medium of claim 13 , the operations further comprising:
integrating, by the computing device, with an insurance claim application executing in the plurality of data sources to obtain the vehicle insurance claim sampling data.
17 . The method of claim 13 , the operations further comprising:
generating, by the computing device, a subset of vehicle insurance data from the obtained vehicle claim data by removing invalid vehicle insurance data and vehicle insurance data including one or more null values.
18 . The non-transitory machine-readable storage medium of claim 13 , wherein the strata including a vehicle data stratum, a geographic data stratum, and a time data stratum.