scholarly journals Forecasting Insurance and Patient Charges using Linear Regression

2020 ◽  
Vol 9 (5) ◽  
pp. 1077-1081
Keyword(s):  
Linear Regression ◽  
Simple Formula ◽  
Data Science ◽  
Data Cleaning ◽  
Insurance Companies ◽  
Insurance Company ◽  
Monthly Basis ◽  
The People ◽  
The World ◽  
Hospital Bill

The insurance companies around the world work with very simple formula and have a very specific agenda. They convince people to deposit money on their name to the insurance company, in return the people are promised to be given a large sum of amount when they get an expensive hospital bill or when they meet with an accident. This amount to be paid, is generally taken from people on a monthly basis. Customers are convinced to join such a scheme as it is very tempting and the prospect of money troubles taken care of for nothing in a time of crisis seems wonderful. Insurance companies on the other hand pray that nothing happens to the customers or their families, so that they don’t come looking for compensation. The money that they collect from new insurance holders is what they use to pay of the losses. Data analysis is the process of understanding the behaviour of a certain dataset when measured against certain static quantities. In this paper we are proposing to use Data science and in particular regression analysis, to analyse a dataset of patients and devise a method to predict their insurance amount. There are various types of learning and broadly speaking linear regression comes under supervised learning. We have a dataset consisting of over 1300 patients each with 7 characteristics like smoker or not, do they have children, their age, sex, BMI, etc. We are also proposing to devise methods to overcome the shortcomings of Linear regression like multicollinearity and homoscedascity, and perform the required data cleaning..

scholarly journals Prioritising Training and People-oriented Security Education for Effective Policing in Nigeria

2018 ◽  
Vol 10 (2) ◽  
pp. 82
Author(s):  
Chibuzor Chile Nwobueze ◽  
James Okolie-Osemene ◽  
Ndu John Young
Keyword(s):  
Public Relations ◽  
National Security ◽  
Qualitative Data ◽  
Organised Crime ◽  
Monthly Basis ◽  
Security Sector ◽  
Counter Terrorism ◽  
Security Education ◽  
The People ◽  
The World

Currently, Nigeria’s security sector needs effective policing considering the spate of insecurity and frustrated relationship between the citizens and the police. Consequently, some officers are seen as dishonest and agents of complicity. Unlike most parts of the world where the people love, support the police, Nigeria still records threats to police-public relations owing to the attitudes of some officers who tarnish the image of the security agency through uncivilised, inhuman and unlawful acts while on duty and beyond. With qualitative data, this paper explores how training and people-oriented security education can enhance effective policing for a more secure Nigeria. This paper argues that police effectiveness should no longer be hinged only on equipping officers for counter-terrorism or establishment of special units to eradicate organised crime, but also on training them on weekly/monthly basis to respond to rapidly emerging threats to national security and trainings on enhancing collaborative police-public relations.

Exploring Insurance and Natural Disaster Tweets Using Text Analytics

2017 ◽  
Vol 4 (1) ◽  
pp. 1-17 ◽  
Author(s):  
Tylor Huizinga ◽  
Anteneh Ayanso ◽  
Miranda Smoor ◽  
Ted Wronski
Keyword(s):  
Natural Disasters ◽  
Natural Disaster ◽  
Association Rule ◽  
Association Rule Mining ◽  
Insurance Companies ◽  
Insurance Company ◽  
Text Analytics ◽  
Rule Mining ◽  
Twitter Data ◽  
The World

This study explores twitter data about insurance and natural disasters to gain business insights using text analytics. The program R was used to obtain tweets that included the word ‘insurance' in combination with other natural disaster words (e.g., snow, ice, flood, etc.). Tweets related to six top Canadian insurance companies as well as the top five insurance companies from the rest of the world, including the new entrant Google Insurance, was collected for this study. A total of 11,495 natural disaster tweets and 19,318 insurance company tweets were analyzed using association rule mining. The authors' analysis identified several strong rules that have implications for insurance products and services. These findings show the potential text mining applications offer for insurance companies in designing their products and services.

scholarly journals The Effect of Risk-Based Capital on Investment Returns of Insurance Companies in Kenya

2020 ◽  
Vol 16 (31) ◽  
Author(s):  
Willys Obuba Chache ◽  
Cyrus Iraya Mwangi ◽  
Winnie Nyamute ◽  
Caren Angima
Keyword(s):  
Linear Regression ◽  
Insurance Industry ◽  
Insurance Companies ◽  
Coefficient Of Determination ◽  
Ratio Test ◽  
Insurance Company ◽  
Risk Capital ◽  
Significance Level ◽  
Investment Returns ◽  
Capital Charge

This paper focuses on analyzing the effect of risk-based capital on investment returns of insurance companies in Kenya. The study population comprised of 63 insurance companies licensed by Insurance Regulatory Authority (IRA). A longitudinal (panel) design was used to describe the association amongst variables on the study duration. Moreover, secondary data was collected from the insurance companies’ annual returns submitted to IRA for five-year duration (2014-2018), which yielded adequate data points for each insurance company deeming it viable. Risk-based capital was determined by the standard formulae as per the risk-based supervision model. It was a composition of operational risk charge, market risk charge, insurance risk charge, credit risk capital charge, and an adjustment which considered the lossabsorbing capacity of technical provisions and deferred taxes. Investment returns in insurance companies was calculated using the investment income ratio. Test of normality, linearity, multicollinearity, and independence were conducted and were found suitable for linear regression to be conducted. Linear regression was used to evaluate the nature of the relationship between the variables based on the hypothesis in the study and at a significance level of 5%. Coefficient of determination ( ) was derived to show how the model fits the data. The study findings revealed a positive and significant relationship between risk-based capital and investment returns, thus allowing investment portfolio managers in the insurance industry to justify their investments in high risk areas that may attract a high capital charge.

scholarly journals – (Requirements for activating the investment in the Iraqi insurance company- Applied Study for the Period (2004- 2015: متطلبات تفعيل الاستثمار في شركة التأمين العراقية - دراسة تطبيقية للمدة (2004- 2015) –

2019 ◽  
Vol 3 (7) ◽  
Author(s):  
Zeinab Shallal Akkar ◽  
Wafa Ali Sultan
Keyword(s):  
Financial Services ◽  
Economic Life ◽  
Insurance Companies ◽  
Insurance Company ◽  
Economic Activities ◽  
Insurance Sector ◽  
Applied Study ◽  
The World ◽  
Investment Function

The insurance sector is one of the most important sectors of the financial services in the world، and it keeps pace with all other economic activities and contributes to its support، development and stability. This study aims to review the investment in insurance companies and the revenues obtained from it، where insurance companies collect large amounts of premiums that enter and then invest in various areas in economic life، and in order to achieve appropriate returns to cover their obligations towards the policyholders and payment of compensation، Factors necessary for successful investment function in insurance companies.

scholarly journals The Effect of Premium Revenue, Underwriting Results, Investment Results, and Risk Based Capital on Income in Insurance Company (Study On Corporate Insurance - The Listed on the Indonesia Stock Exchange)

2021 ◽  
Vol 2 (6) ◽  
pp. 387-399
Author(s):  
Wahyuddin ◽  
Mauliyana
Keyword(s):  
Regression Analysis ◽  
Linear Regression ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Insurance Companies ◽  
Insurance Company ◽  
Investment Returns ◽  
Premium Income ◽  
Corporate Insurance

This research is intended to determine how much influence the premium income, underwriting results, investment results, and risk based capital on the profit of insurance companies (a study of insurance companies listed on the Indonesia Stock Exchange). In this study, the technique to collect the form of financial documentation as the data were taken from 11 insurance companies as samples that listed on the Indonesia Stock Exchange in 2017-2019. The multiple linear regression analysis methods use to analyze the data. The results of this study indicate that premium income, underwriting results, investment returns, and Rased Based Capital have a positive and significant effect on profits in insurance companies registered in Indonesia in 2017-2019. It is hoped that insurance companies registered in Indonesia will be able to maintain the value of premium income, underwriting results, and Rased Based Capital in the company, this is so that insurance companies are able to provide more performance for the progress of the company in the future.

scholarly journals PENGARUH PENDAPATAN INVESTASI TERHADAP LABA PERUSAHAAN ASURANSI SYARIAH

2020 ◽  
Vol 5 (1) ◽  
pp. 53
Author(s):  
Ikin Ainul Yakin ◽  
Irfan Hambali
Keyword(s):  
Linear Regression ◽  
Linear Regression Analysis ◽  
T Test ◽  
Insurance Companies ◽  
Coefficient Of Determination ◽  
Insurance Company ◽  
Test Statistics ◽  
Simple Linear Regression ◽  
Normality Test ◽  
Investment Income

All insurance institutions would want to always experience an increase both in growth and maximum capital or profit increase. Profit or loss is usually used to assess the performance of the company's performance, the main factor in determining the size of the profits depends on the success of managing investments, where in 2018 investment income has dropped the company's profits have fallen. The formulation of the problems in this study are: 1). Is there an influence of investment income on the profits of the insurance company PT. Sinarmas Syariah ?. 2). How much influence does investment income have on the profits of the insurance company PT. Sinarmas Syariah? The purpose of this study are 1). To find out whether there is an influence of investment income on the profits of insurance companies PT. Sinarmas Syariah Insurance. 2). To find out how much influence the investment income on the profits of insurance companies PT. Sinarmas Syariah. This study uses simple linear regression analysis techniques Test statistics of classical assumption tests including normality test, heteroscedasticity test, and autocorrelation test and using hypothesis testing including two-sided t test, simple linear regression test and coefficient of determination test. Based on the results of the T test, the t value of investment income obtained 3.752 is greater than t table 2.0859 thus there is a significant influence on investment income on earnings. R2 value of 0.439 or (43.9%) which means the investment income variable influences profits by 43.9% while the remaining 56.1% is influenced by other factors not examined.

scholarly journals DETERMINANTS OF SHARIA INSURANCE COMPANY PROFITABILITY

2019 ◽  
Vol 4 (01) ◽  
pp. 41
Author(s):  
Maman Suherman ◽  
Irman Firmansyah ◽  
Medina Almunawwaroh
Keyword(s):  
Financial Performance ◽  
Firm Size ◽  
Quantitative Research ◽  
Sampling Technique ◽  
Insurance Companies ◽  
Insurance Company ◽  
The Public ◽  
The People ◽  
Islamic Insurance ◽  
Positive Effect

<p><em>The growth of sharia insurance in Indonesia continues to occur. This is a sign that the people in Indonesia have good risk management because the company's growth is supported by the increase in customers in sharia insurance companies. This condition must be supported again by the conditions in which the company has a good performance, so the company must find a way to continue to improve its performance. This study is aimed to determine the effect of leverage, firm size, and company age on the financial performance of sharia companies. The method used is through quantitative research using multiple regression. The method of data collection uses a purposive sampling technique carried out to all populations, namely all Islamic insurance companies in Indonesia from 2012 to 2018. The results of the study show that leverage and age of the company do not succeed in influencing financial performance, while firm size has a positive effect on financial performance. Therefore it is important for companies to continue to increase their assets, especially in collecting funds from the public as the company's ingredients in managing their finances to improve their financial performance.</em><em></em></p><strong><em>Keywords</em></strong><em>: Age, Financial Performance, Leverage, Size</em>

scholarly journals USE OF INNOVATIVE TECHNOLOGIES BY INSURANCE MARKET ENTITIES. TELEMATICS IN CAR INSURANCE

2020 ◽  
Vol 1 (2) ◽  
pp. 7-11
Author(s):  
Liliya Ignatovich
Keyword(s):  
Financial Services ◽  
Insurance Market ◽  
Insurance Companies ◽  
Innovation Activity ◽  
Insurance Company ◽  
Innovative Technologies ◽  
Social Trends ◽  
The World ◽  
Promising Area ◽  
Car Insurance

The purpose of the article is to substantiate the need for the use of innovative technologies by participants in the insurance market, namely, telematics in car insurance. The current state of the financial services market requires insurers to raise standards of work through the introduction of innovative products. It is determined that increasing the competitiveness of an insurance company should focus on providing the best personal services and meet the requirements of modernity and modern social trends, and therefore, make full use of the Internet: marketing and innovation. In view of this, the key task of the insurer’s innovation activity is the maximum approximation of insurance services to the existing needs of the insured in insurance protection. It is possible to reach stable demand for this or that insurance service under the conditions of application of the world innovative insurance programs providing balance of qualitative and quantitative parameters of the insurance contract only. The relevance of the topic is that the Ukrainian insurance companies are forced to look for new opportunities to meet the needs of their customers in order to maintain competitive advantages and work effectively in the conditions of innovative development of insurance activity in the world. A promising area of further research is to assess the readiness of insurance market participants to use innovative insurance services. Methodology. The essence of telematics in car insurance is investigated. The state of the CASCO insurance market in Ukraine is analyzed. The main advantages of telematics use by the subjects of the insurance market of Ukraine are determined. Practical implications. It is proved that the introduction of innovative technologies opens new opportunities for the growth of additional premiums, improving the quality of service and minimizing insurance risks. Theoretical provisions on the need for ways to improve the innovative activities of the insurer have been further developed.

scholarly journals ANALYSIS PROVISION OF DIRECT INCOME COMPENSATION AND INDIRECT INCOME COMPENSATION ON THE PERFORMANCE EMPLOYEES COMPANY INSURANCE

2021 ◽  
Vol 1 (3) ◽  
pp. 241-252
Author(s):  
Said Khaerul Wasif
Keyword(s):  
Linear Regression ◽  
Multiple Linear Regression ◽  
Direct Effect ◽  
Employee Performance ◽  
Insurance Companies ◽  
Insurance Company ◽  
Financial Compensation ◽  
A Value ◽  
Research Technique ◽  
Direct Income

This study aims to analyze the effect of direct financial compensation and indirect financial compensation on the performance of insurance company employeeS.The sample used is 73 employees. The research technique amalysis use is t is multiple linear regression analysi. The results of this study indicate that partially direct income compensation has an effect on employee performance with a value of sig. 0.000 while the indirect income compensation has the same direct effect on employee performance with sig. 0.015. Meanwhile, direct income compensation and indirect income compensation on the performance of insurance company employees have an effect of 74%. The limitations of this study only discuss 3 variables, namely direct income compensation and indirect income compensation and employee performance. It is hoped that this research can be useful for insurance companies and become a reference for further research regarding the analysis of the provision of direct income compensation and indirect income compensation on the performance of employees company insurance. Keywords: Direct income compensation, indirect income compensation, performance employee performance, insurance  

scholarly journals Foreign experience of agricultural insurance and prospects of its adaptation in Ukraine

2020 ◽  
Vol 22 (95) ◽  
pp. 22-26
Author(s):  
J. Muzychka ◽  
O. Dadak
Keyword(s):  
State Policy ◽  
The United States ◽  
The State ◽  
Insurance Companies ◽  
Insurance Company ◽  
State Support ◽  
Foreign National ◽  
Agricultural Insurance ◽  
Foreign Countries ◽  
The World

In the articles of the considered process of agrarian insurance in foreign countries. The essence of the concept of “agricultural insurance” and “agricultural insurance risk" is revealed. The history of development of agricultural insurance in the international market of insurance services is studied. There are several well-known national agricultural insurance systems and their characteristics. The national systems and participants of agrarian insurance in the countries of the world, namely: the United States of America, Canada, Spain, Portugal, Italy, Austria, France, Germany, Latvia and Poland are singled out. It is proved that in most countries of the world the importance of insurance of risks of agricultural production as an irreplaceable financial and economic lever of development of agriculture and economy of the countries is described. The most important measures that are provided and mandatory for the participants of the above-mentioned foreign national agricultural insurance systems are highlighted. Models of agricultural insurance in different countries are characterized by certain features: the state is an active participant in the agricultural insurance system; insurance is overwhelmingly voluntary; state policy in the field of insurance is characterized by structure and transparency; the state subsidizes both agricultural producers and insurance companies; Appropriate state institutions and appropriate levers of financial influence are created for the development and implementation of state policy in the field of agricultural insurance. Based on the experience of foreign countries, three main operating systems of agricultural insurance protection have been identified: the system of catastrophic coverage, the system of state administration of agricultural insurance programs, the system of cooperation between the state and insurance companies. It is noted that there is also an inefficient system of “state insurance company”, which sells agricultural insurance services. The main normative acts regulating the insurance process in Ukraine are described. It was proposed to introduce a new program of state support for agricultural insurance, which would clearly define: the subjects of the market of insurance of agricultural products with state support, insurance contracts, insurance rules, the mechanism for providing state support to farmers; information support of state support of agricultural insurance.

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