machine learning algorithm use in the loan application
Abstract
This study first examines the actual underwriting procedures used by Chinese life insurance firms, highlighting their benefits and drawbacks. The association rule data mining technique is then used to mine the incomplete insurance company database. Thirdly, the candidates are classified during the underwriting process using the support vector machine (SVM). Finally, suggestions about how to improve this method are given. The underwriting procedure will likely benefit from the algorithm suggested in this research.
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