Performance Comparison of Deep Learning and Machine Learning Models Applied for P&C Insurance for Measuring Prediction Accuracy

Abstract

Many research studies have shown that machine learning is quite effective for predicting future sales or demand of customers. In the Insurance industry, machine learning is applied to know customer behavior. This study will perform a detailed analysis of insurance and customers. The purpose of the study is to perform the comparison of machine learning models for measuring prediction accuracy. After an extensive literature review, many research studies have focused on various predictive models. Predictive models such as neural networks, Deep Learning, Artificial Intelligence, and Machine learning are applied in the insurance sector to know customer behavior. However, there are not many studies that have made performance comparisons. This study will perform a performance comparison of various predictive models. This research study will provide a huge amount of information to the target audience and fill the research gap in the current literature.

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