Analysis of Vehicle Insurance Data to Detect Fraud using Machine Learning
Pabbisetty Pranavi · International Journal for Research in Applied Science and Engineering Technology · 2020
There are more than thousands of insurance companies in the world which handles large amount of data. Insurance fraud has become the most common among the organizations across the industries. Insurance industry is one among the most growing industries hence fraud detection becomes very important in this current world. Fraud detection can be implemented in various fields like banking, insurance, financial sectors and information security systems. There are many approaches by which fraud can be detected. In this paper, we use various techniques of machine learning for the detection of vehicle insurance fraud. We make use of Random forest and KNN algorithm for the accuracy detection the insurance fraud. The performance calculation is done by calculation of confusion matrix.