Difference between revisions of "ANLY482 AY2016-17 T1 Group4: Project Findings"
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====Understand Policy Based Data==== | ====Understand Policy Based Data==== | ||
For policy based data, we would be looking at a few fields, namely, CHDRNUM, which indicates the unique policy number, RIDER, which indicates the rider index number, INSTPREM, which is the premium that has been paid up for that particular. Also, we would be looking at the columns LIFE and COVERAGE, which are the columns that define the index of each contract’s coverage. Essentially, this is the visual representation of how each contract is modelled: | For policy based data, we would be looking at a few fields, namely, CHDRNUM, which indicates the unique policy number, RIDER, which indicates the rider index number, INSTPREM, which is the premium that has been paid up for that particular. Also, we would be looking at the columns LIFE and COVERAGE, which are the columns that define the index of each contract’s coverage. Essentially, this is the visual representation of how each contract is modelled: | ||
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[[File: breakdown_chart.jpg |300px|thumb|left|Distribution By Occupation]] | [[File: breakdown_chart.jpg |300px|thumb|left|Distribution By Occupation]] | ||
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====Policy's Uptake Vs Time==== | ====Policy's Uptake Vs Time==== | ||
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| − | File:basic_plan_uptake.jpg|Basic Plan Uptake Over Time | + | [[File: basic_plan_uptake.jpg |300px|thumb|left|Basic Plan Uptake Over Time]] |
| − | File:rider_uptake.jpg|Rider Uptake Over Time | + | [[File: rider_uptake.jpg |300px|thumb|left|Rider Uptake Over Time]] |
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We plotted graphs for each of the basic plans and also for the riders, to allow the client company to understand the uptake of each basic plan over the years. From this, they will be able to understand which plans have an increasing uptake rate, and which plans have a decreasing uptake rate. These graphs have been put into a separate PDF, for their perusal. | We plotted graphs for each of the basic plans and also for the riders, to allow the client company to understand the uptake of each basic plan over the years. From this, they will be able to understand which plans have an increasing uptake rate, and which plans have a decreasing uptake rate. These graphs have been put into a separate PDF, for their perusal. | ||
Revision as of 17:05, 1 December 2016
Contents
Mid-Term Findings
Exploratory Data Analysis
Distribution By Age
- Cba measure.jpg
Measures (Distribution By Age)
Graph (Distribution By Age)
From the data, we are able to see that the median age is around 45, with the standard deviation being around 13 years. However, there are missing age values, and those entries consist of 9% of the data, and have been excluded from this analysis.
Distribution By Gender
Measures (Distribution By Gender)
Graph (Distribution By Gender)
From the data, we are able to observe that around 53% of the valid clients are male, while around 46% are female. There is a very small percentage of individuals, however that did not disclose their gender (0.53%).
Distribution By Age & Gender
Measures (Distribution By Age & Gender)
Graph (Distribution By Age & Gender)
What we can observe is slightly more women than men for clients aged 50 years old to their late 60s. However, we are also able to see that there are slightly more men than women clients for clients in their late 30s, by comparing both peaks, which both happen to fall within the similar age range of 30 to 45 years old.
Distribution of Customers By Occupation
Figures(Distribution By Occupation)
Graph(Distribution By Occupation)
From the above analysis, we are able to observe that the highest group of customers are managers, followed by “OTHR”. This could possibly consist of other businessmen such as Entrepreneurs. Following that are a group that did not disclose their occupation. Engineers, Housewives and Executives follow after that.
Understand Policy Based Data
For policy based data, we would be looking at a few fields, namely, CHDRNUM, which indicates the unique policy number, RIDER, which indicates the rider index number, INSTPREM, which is the premium that has been paid up for that particular. Also, we would be looking at the columns LIFE and COVERAGE, which are the columns that define the index of each contract’s coverage. Essentially, this is the visual representation of how each contract is modelled:
Policy's Uptake Vs Time
We plotted graphs for each of the basic plans and also for the riders, to allow the client company to understand the uptake of each basic plan over the years. From this, they will be able to understand which plans have an increasing uptake rate, and which plans have a decreasing uptake rate. These graphs have been put into a separate PDF, for their perusal.
Finals Findings
Due to the NDA that we have signed, the findings will not be displayed here, but in our privately submitted reports. Please contact our project supervisor, Professor Kam Tin Seong, if you wish to have access to them. Thank you for your kind understanding.
