Data preparation for modeling predictive analizes in the field of basic property insurance risks

Author

Markovic, Ivana P. ; Stankovic, Jelena Z. ; Stankovic, Jovica M.

fYear

2013

fDate

26-28 Nov. 2013

Firstpage

829

Lastpage

832

Abstract

This paper describes the process of preparing available data in the field of basic property insurance risks, in order to use it in the further researches for modeling the probability distribution of the occurrence of insured events that cause extremely large damages. The paper also describes a descriptive and exploratory data analysis on data set for the period between 2001 and 2011 on the territory of the Republic of Serbia. The purpose of data preprocessing is to reduce the amount of data to be analyzed, so as to improve the quality of the analysis. Process steps include data cleaning and that data transformation, in order to increase speed and prevent the domination of certain attributes in the application of algorithms for classification and clustering.

Keywords

data preparation; insurance data processing; pattern classification; pattern clustering; Republic of Serbia territory; data classification; data cleaning; data clustering; data preparation; data preprocessing; data transformation; descriptive-exploratory data analysis quality improvement; insured event occurrence; predictive analysis modeling; probability distribution modeling; property insurance risks; Algorithm design and analysis; Clustering algorithms; Data mining; Data models; Insurance; Nickel; Predictive models;

fLanguage

English

Publisher

ieee

Conference_Titel

Telecommunications Forum (TELFOR), 2013 21st

Conference_Location

Belgrade

Print_ISBN

978-1-4799-1419-7

Type

conf

DOI

10.1109/TELFOR.2013.6716358

Filename

6716358