Medical Insurance Premium Prediction Using Linear Support Vector Machine

In healthcare, data mining algorithms are utilized to make people's lives better by predicting diseases and trying to diagnose them faster than most doctors. When the middleman is eliminated, as it is with computerized medical insurance, there is an unbroken line of communication between the insurance company and the insured. Predicting the premium of medical insurance is a major source of worry. The only way for a health insurance provider to turn a profit is to receive more in premium payments than it pays out in claims. Linear Support Vector Machines (LSVM)are developed for Premium Prediction in the Well-beingAssurance Sector. Eleven different criteria were used to train and evaluate LSVM. Experimental results showed a 99% accuracy, and the researchers analysed the effectiveness of the algorithm using success metrics.