Industry Use Case

Fraud Detection for Automobile Insurance Claims

This project exposes to one of the well-known supervised machine learning model families most commonly known as Classification.

Fraud Detection for Vehicle Insurance Claims by applying Advanced Classification Models
  • 3 bar graph
    Difficulty: Advanced

    Designed for those with a technical background or industry experience

  • Asset 1
    Duration: Approximately 3 hours

Course Overview

  • Classification algorithms are used to categorize data into a class or category.
  • Insurance firms incur enormous financial losses as a result of fraudulent vehicle insurance claims. According to reports, claims padding—the practice of adding damage, injuries, fictitious passengers, and other such things—represents 90% of insurance frauds. By staging fake accidents the remaining 10% are claimed. Therefore, it is crucial for insurance firms to spot such false claims.
  • By building a fraud detection algorithm insurance companies would automatically be flagged about auto insurance fraud claims and will be able to handle them.
  • Learn how classification algorithms can be used for flagging a claim as legitimate or fraudulent.

What’s included

icon-lifetime-access

Lifetime Access

Access this case study for life once completed

icon-course-format

Flexible Scheduling

Start learning online immediately, at your own pace

icon-desktop

Desktop Only

We recommend accessing this case study via desktop

Skills you will learn

Data Mining

Data Management

Data Visualization

Machine Learning Concepts

Ux/ui design

react

java

Javascript

Associated Learning Tracks

How it Works

Learn new skills that will boost your career by enrolling in courses across data analytics, data science, ML and AI. These courses will utilize readings, videos, quizzes, data cases, and even coding exercises to teach you skills and concepts in a way that will solidify your new knowledge for hands-on application.

With our hands-on projects, you will take your newly learned skills along with our 750+ low-code/no-code functions and embedded coding console to complete milestone-based projects. Once completed, you will have effectively applied new skills and concepts to real-world data cases that can be translated directly into your career.

Complete assessments and track your progress in real-time to benchmark your proficiency in relation to key functional areas. As you progress through your courses, our patented platform will utilize ML and AI to record and analyze your inputs and output to provide active feedback and recommendations that will help you learn more effectively than the standard Letter Grade system used today.

Complete courses to earn sharable certificates and badges. These awarded items will be look great in your portfolio as you showcase your skills and project experience to employers and colleagues.

WHAT THE COMMUNITY SAYS ABOUT US

“Rolai is the best program available for someone looking to enhance their skills”

Connor McEachron
Planning & Analytics @ Brooks Brothers
WHAT THE COMMUNITY SAYS ABOUT US

“Great way to learn data analytics and data science”

Balaji Reddy
Manager – Applications Development
WHAT THE COMMUNITY SAYS ABOUT US

“The courses were excellent and covered topics that I didn’t expect”

Aadarsha G
Student At Ohio Wesleyan University
testimonials-1
All the Most Frequently Asked Questions

What People Are Asking About Data Education

Signing up is easy! Get Started from the homepage, just click the “Get Started” button to sign up instantly no credit card required.

Individual access is free. Business and Academia access require a subscription.

Our courses range from Beginner to Advanced. We have courses and learning tracks that are available for beginners, we do however recommend having a basic level of analytics before starting any beginner course.

You can sign up for a demo on the For Business Tab

Rolai’s patented process provides a personalized learning process for each user. Rolai goes deeper than simply learning concepts and testing your skills. At Rolai, learners can apply their skills to actual industry use cases and projects.