Car-Insurance-Report

This report is a dashboard on car insurance claims by various individuals. It detailed claims frequency, claims amount, car brands, and age range of insurance claimers among other things.

Introduction

Car Insurance is an insurance policy where the insurer (insurance company) protects the car of the insured (you) in the event of an accident, theft, loss, or damage. This protection is valid upon paying an agreed annual premium according to what is outlined in your policy.

This dataset presents various data from a car insurance company to highlight various information on their customers. The data represented is in the data dictionary below.

Data Dictionary

Data Cleaning

A few of the dataset was cleaned for better representation, the birthrate column was converted from (mm/dd/yyyy) to (dd/mm/yyyy) to allow proper representation of the claimant's birthdate.

Also, a new column called age and age range was created to know the current claimant's age and sub-represented in age range categories like 20 - 29, 30 - 39, 40 - 49, 50 - 59, 60 - 69, and 70 -79

Problem Statement

1. What is the average claims amount per customer?
2. What is the average claims frequency?
3. What are the average claims per car make?
4. What are the top claims count per car make?
5. What are the top claims count per car color?
6. What is the average claims amount per coverage zone?
7. What is the average claims count per car use?
8. What are the claims count per Education status?
9. What are the claims count per marital status?
10. What is the average claims amount per car year?

Data Visualization

The problem statements were answered using bar charts, pie charts, and line charts. Link here

Summary

• The total number of insurance claimants is 37,542.
• The average claims amount is $50,028.21.
• The average household income is $147,247.41.
• From the data visuals, we can see that Ford, Chevrolet, and Dodge brands are the car brands with the most claims frequency and amount claimed.
• Aquamarine, Indigo, and Green are the car colors with the highest claims frequency.
• We have close distributions of male and female claims frequency each starting at 49.51% and 50.49% respectively.
• The age range '70 - 79' has the least claims frequency among the ages.
• Cars made in 1950 have the highest claimed amount.

Recommendation

• More education and incentive packages should be created to attract more commercial car users, this is because of the wide gap between commercial car users and private car users.
• Create targeted insurance packages to fit clients in the 70 - 79 age range as they have the lowest claims count in the age bracket.