Notice of Retraction: Analysis on application of data mining upon rate making and risk analysis in insurance
Jianbing Xiahou, Yang Mu · 2010
In this paper, we analysis data of insurance on motor vehicles of some branch of PICC P&C(Peoples Insurance Company of China). We compare the results of data mining approach and traditional approach, to demonstrate the advantage of the former. Data mining approach can process some parts of rate making automatically, adjust rate structure and build a rational rate making system in insurance. In addition, It contributes to the recognition of high-risk customer, thus the loss rate will be controlled.