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Cars Insurance Using Tableau

SHREYA PRAKASH
PGP – DSBA ONLINE
MARCH ‘22
DATE – 09/11/2022

Public URL-
https://public.tableau.com/app/profile/shreya3199/viz/CarInsuranceProject_16680112768960/
AnalysisofCarinsuranceData

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 Table of Contents
1 Project Objective............................................................................................................................2
2 Assumptions...................................................................................................................................2
3 Data Dictionary..............................................................................................................................2
4 Creation of New Calculated fields..................................................................................................3
4.1 Age group computation.............................................................................................................3
4.2 Claim Frequency computation..................................................................................................3
4.3 Computation of Age..................................................................................................................4
4.4 Computation of Claim amount rang..........................................................................................4
5 Creation of Multi-Dimension parameter [to be used in Top N Customer]......................................4
6 Creation of Multi-Dimension parameter [to be used in Demographics of Client]..........................5
7 Dashboard Explained......................................................................................................................5
7.1 Client Demographics.................................................................................................................5
7.1.1 Occupation vs Education...............................................................................................6
7.1.2 Income Range vs Car Type...........................................................................................7
7.1.3 Education vs Income Range..........................................................................................8
7.1.4 Gender vs Car Type.......................................................................................................8
7.2 Car Demographics.....................................................................................................................9
7.2.1 Summary of Car Owner Income range vs Car type.....................................................10
7.2.2 Car Type vs Car Worth................................................................................................11
7.3 Claims Dashboard...................................................................................................................12
7.3.1 Claim Frequency by Car Type.....................................................................................13
7.3.2 Years of insurance for Customers................................................................................14
7.3.3 Car worth vs Claim Amount........................................................................................14
7.3.4 Top 5 customers..........................................................................................................15
7.3.5 Top claim by car type..................................................................................................15
7.4 Storyboard...............................................................................................................................16
7.4.1 Car Insurance for Female Drivers................................................................................16
7.4.2 Car Insurance for Male drivers....................................................................................21
8 Recommendations........................................................................................................................24

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1 Project Objective
The main aim of the project is to analyse the dataset of car insurance using tableau. The anlysis
and recommendations will cater towards the business objective of a Typical Insurance Company
providing car insurance to both personal and commercial users.

2 Assumptions
1) There are several factors which are provided in the dataset. However, there may be other
unseen factors that are not considered
2) YOJ and birthdate will lead to number of years/age computed as at 2020.
3) The dashboard presented are intended to analyse the car insurance claims in details, in order
for the insurance company to have an informed understanding of their customer base and to
provide a better customer service.

3 Data Dictionary
The dataset has data on 10284 client’s car insurance information, it includes the customer
demographic information (birthdate, income, value of house owned, marital status, gender,
education level, occupation, travel time.), the insurance claim information (worth of car, claim
amount, claim frequency, age of car etc).

ID Id of customer
KIDSDRIV Total No of kids the car driver has
BIRTH Date of birth
HOMEKIDS No of kids the driver has at home
Year in which the car owner applied for the car insurance policy ( 0 means
YOJ insurance was applied for while the car is brand new, 10 means insurance
was applied for in the 10th year of car ownership)
INCOME Income
PARENT1 If car owner has his parents
HOME_VAL Value of the house owned
MSTATUS Marital status
GENDER Gender
EDUCATION Education level
OCCUPATION Occupation level
TRAVTIME Travel time taken taken in minutes(On an average)
CAR_USE Purpose of using the car
BLUEBOOK What is the worth of the car
CAR_TYPE Car type
OLDCLAIM Previous claim
CLM_FREQ How often claimed
CLM_AMT Current Claimed amount
CAR_AGE Age of car
URBANICITY Where the car is being driven primarily

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Public URL -
https://public.tableau.com/app/profile/shreya3199/viz/CarInsuranceProject_16680112768960/
AnalysisofCarinsuranceData

4 Creation of New Calculated fields

The following new calculated fields are created for the running of the datasheets.
4.1 Age group computation

4.2 Claim Frequency computation

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4.3 Computation of Age

4.4 Computation of Claim amount rang

5 Creation of Multi-Dimension parameter [to be used in Top N Customer]

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 6 Creation of Multi-Dimension parameter [to be used in Demographics of
Client]

7 Dashboard Explained
7.1 Client Demographics

This dashboards provides detailed insights about “Who is our customer?”. The details are explained
below.

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7.1.1 Occupation vs Education

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Major findings:

1) Income range of the majority of customers<100,000.

2) Occupation wise students and homemakers are the major group with car insurance
3) From the perspective of education, graduates of high school and Bachelors buy car insurance.
4) Professionally, jobless, blue collar, clerks and students prefer to buy car insurance. However,
the underlying reason is not clear at this point.

7.1.2 Income Range vs Car Type

In this datasheet, the type of car bought by the income range can lead to the following conclusion:
1) Income Range<50000 and between 50000-100000, has a strong preference for Minivan and
SUV.
2) The other income ranges does not exhibit any strong liking for any specific car type

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 7.1.3 Education vs Income Range

It is quite evident that the income range of highly educated customers are much higher than those who
have passed high school or less. It is also evident that female customers have a higher income in every
education group compared to their male counterparts.

7.1.4 Gender vs Car Type

Female customers buy car insurance more than the male customers. Also, female customers has a strong
affinity for SUV and sports car.

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 7.2 Car Demographics

In this datasheet, we can conclude of the following points on car’s demographics:

 Car Worth decreases with time
 SUV and Minivan retains their value for a longer time

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7.2.1 Summary of Car Owner Income range vs Car type

 SUV and minivan are preferred by customers of all income group and occupation

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7.2.2 Car Type vs Car Worth

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 7.3 Claims Dashboard

The insurance claims dashboard has been prepared to provide a quick-access snapshot of all the relevant
information.
Major findings are
 Highest number of insurance claim is amongst SUV and minivans
 Majority of claims are by female customers
 Majority of claims are in the initial years of purchase; claims decrease with age of the vehicle

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7.3.1 Claim Frequency by Car Type

 Insurance claim is more in the initial age of the car.

 The majority of claim amount fall in the <4000 group

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7.3.2 Years of insurance for Customers

 Claim Insurance is highest at ~ 10 yrs of car age

7.3.3 Car worth vs Claim Amount

 Frequency of insurance claim is highest in the initial years of car age

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 7.3.4 Top 5 customers

Top 5 customer claims are

 Pickup with 1 yr age
 Van with an age of 3 yrs
 Sports car in the first year
 Very old Parcel trucks with age of ~ 12 yrs
 Minivans with age of ~ 6 yrs

7.3.5 Top claim by car type

 Top claims with respect to car type belongs to the SUV group.

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 7.4 Storyboard

2 storyboards have been created to explore the insurance claims of

 Female SUV owners

 Male drivers

7.4.1 Car Insurance for Female Drivers

A Story board has been created to explore and analyse the insurance claims female SUV owners.
The main reason for choosing this storyboard is due to the fact that majority of insurance claims are
from female drivers most of whom drive SUV.

Point 1: Focus on the SUV and the car worth

 SUV is a common car purchased amongst all income groups

 In terms of car worth, it is relatively high in value

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Point 2: Focus on Female driver for SUV

 Income range for female drivers is not high but they are the highest number of owners for SUV
 Regardless of occupation that the female drivers are, their preference car type is SUV

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Point 3: Claim Amount for SUV

 In general, the claim for SUV is the highest among all car types

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Point 4: Female driver claim for SUV

 This table tells us the claim amount that female driver lodge for SUV is substantially high

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Point 5: Insurance claim for SUV

 This table tells us throughout the life cycle of the SUV, there is high claim amount for the SUV
insurance.

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 7.4.2 Car Insurance for Male drivers
Story board created is to explore the insurance claims for male drivers.
Point 1: Focus on the minivan and pickup and their car worth

 Majority of insurance claim amongst males are from Minivan and Pickup drivers.
 Most of these are used for commercial purpose
 The vehicles retain their value even with age

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Point 2: Focus on minivan and pickup for male drivers

 Male customers owning the minivan and pickup dominates the car insurance company.
 Income range and ownership of minivans are inversely proportional
 Education level of minivan owners are in the lower rung
 Minivan owners income range is in the lower bracket

Point 3: Claim amount for Minivan and pickup

 Claim value for minivan and pickup is extremely high in the initial years of the car life.

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Point 4: Male driver claim for minivan and pickup

 Among the male drivers, the minivan and pickup claim value is very high compare to the other
vehicle types.
 It is also surprising to see sports car and SUV is really not popular among the male.

Point 5: Insurance claim for minivan and pickup

 Insurance claim value of minivan and pickup is high in the initial years and the value will go
down.
 However, it is not error-free as the insurance claim is still relatively high along the years.

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8 Recommendations
Based on the analysis of the provided data, some recommendation are provided in the table below.

Criteria Recommendation
Price range for car types Insurance for SUV/Pickup/Minivan and Panel truck to
be provided at a premium pricing

Based on Income range For an entry point of customers, insurance premium to

be lowered to gather a larger market share

Based on past claims Customers with lower past claims should be provided
with an incentive for purchasing new insurance

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APPENDIX I – Link to Visualization on Tableau Public

DataVisualisationProject_Car Insurance

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