Researcher from Universiti Kebangsaan Malaysia Discusses Findings in Sustainability Research (Life Insurance Prediction and Its Sustainability Using Machine Learning Approach): Sustainability Research

2023 JUL 26 (NewsRx) -- By a News Reporter-Staff News Editor at Engineering Business Daily -- New research on sustainability research is the subject of a new report. According to news reporting from Bangi, Malaysia, by NewsRx journalists, research stated, “Owning life insurance coverage that is not enough to pay for the expenses is called underinsurance, and it has been found to have a significant influence on the sustainability and financial health of families.”

Funders for this research include National University of Malaysia.

The news reporters obtained a quote from the research from Universiti Kebangsaan Malaysia: “However, insurance companies need to have a good profile of potential policyholders. Customer profiling has become one of the essential marketing strategies for any sustainable business, such as the insurance market, to identify potential life insurance purchasers. One well-known method of carrying out customer profiling and segmenting is machine learning. Hence, this study aims to provide a helpful framework for predicting potential life insurance policyholders using a data mining approach with different sampling methods and to lead to a transition to sustainable life insurance industry development. Various samplings, such as the Synthetic Minority Over-sampling Technique, Randomly Under-Sampling, and ensemble (bagging and boosting) techniques, are proposed to handle the imbalanced dataset. The result reveals that the decision tree is the best performer according to ROC and, according to balanced accuracy, F1 score, and GM comparison, Naive Bayes seems to be the best performer.”

According to the news editors, the research concluded: “It is also found that ensemble models do not guarantee high performance in this imbalanced dataset. However, the ensembled and sampling method plays a significant role in overcoming the imbalanced problem.”

For more information on this research see: Life Insurance Prediction and Its Sustainability Using Machine Learning Approach. Sustainability, 2023,15(13). (Sustainability - http://www.mdpi.com/journal/sustainability). The publisher for Sustainability is MDPI AG.

A free version of this journal article is available at https://doi.org/10.3390/su151310737.

Our news journalists report that more information may be obtained by contacting Siti Nurasyikin Shamsuddin, Department of Mathematical Sciences, Faculty of Science and Technology, Universiti Kebangsaan Malaysia, Bangi 43600, Malaysia. Additional authors for this research include Noriszura Ismail, Nur Firyal Roslan.

ORCID is an identifier for authors and includes bibliographic information. The following is ORCID information for the authors of this research: Siti Nurasyikin Shamsuddin (http://orcid.org/0000-0002-4155-6289), Noriszura Ismail (http://orcid.org/0000-0001-9546-952X), Nur Firyal Roslan (http://orcid.org/0000-0002-9301-0843).

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