n this talk I talk about how machine learning is going to disrupt car insurance industry. #machinelearning #artificianintelligence #carinsurance

1. Machine learning:
To the rescue of car
insurers?
Rudradeb Mitra
https://www.linkedin.com/in/mitrar

2. Car Insurance:
Final nails in the coffin?
• High cost of
acquisition, retention
and churn
• No brand loyalty (one
of lowest NPS)
• Low engagement
https://medium.com/@rudradeb/car-insurance-industry-final-nails-in-the-coffin-276b3d949a5e#.czo68gnl9

5. Insurance companies:
To survive
• Low acquisition cost
• High brand loyalty
• High engagement
• Compete with google and apple

6. What is machine learning?
• Apply previously acquired
knowledge to new or novel
situation
Arthur Samuel with his checker playing machine

7. Something is happening
recently…..
• AlphaGo was able to build
intuition.
• AP is going to use machine
created news articles for
sports coverage.
• Deep Mind to check NHS eye
scans for disease analysis.
• People have termed it similar
to Industrial revolution

8. Machine learning
• Supervised learning
• Unsupervised learning
• Reinforcement learning

9. Supervised learning -
Neural Networks

10. Learning - Back propagation

11. Unsupervised learning

12. Reinforcement learning

13. What can Machine learning
do for car insurers?
• Identify high risk and low risk
drivers
Driving data clustering
through Unsupervised
learning

14. What can Machine learning
do for car insurers?
• Identify what incentivizes
behavior change
Driving and behavioral data
analysis through reinforcement
learning

15. What can Machine learning
do for car insurers?
• Identify new customers -
groups of friends
Supervised learning (data?) /
Unsupervised learning /
Reinforcement learning

16. Driving and behavioral
data?

17. Insurance companies with
Machine learning
• Low acquisition cost
• High brand loyalty
• High engagement
• Perhaps compete with google and apple

18. Questions?
mitra.rudradeb@gmail.com
Feel free to email or add me on linkedin