MEDICAL HEALTH INSURANCE PRICE PREDICTION

MEDICAL HEALTH INSURANCE PRICE PREDICTION

Registration ID: IJNRD_218712

Published ID: IJNRD2404463

DOI: Click Here to Get

G AKSHARA REDDY , N LATHA MADHURI

Health insurance, Machine Learning, Predictive modeling, Regression analysis, Healthcare expenditure, Cost prediction, Real-time system, Insurance premiums, Data-driven decisions, Healthcare accessibility.

The global healthcare landscape faces significant challenges, including rising costs, increased life expectancy, and a shift towards non-communicable diseases. India, in particular, grapples with limited public healthcare expenditure, prompting individuals to rely on costly private healthcare services. As a result, health insurance has become indispensable for managing healthcare expenses. Leveraging the power of Machine Learning (ML) and predictive modeling, this study presents the ML Health Insurance Prediction System (MLHIPS), aimed at aiding insurance companies in accurately predicting insurance costs in real-time. By analyzing past insurance data and customer behavior trends, MLHIPS employs Regression Models, specifically Linear Regression, to forecast insurance premiums. The proposed model showcases promising results, achieving an impressive accuracy of 91%. Through this system, insurance companies can streamline business operations, make data-driven decisions, and develop innovative insurance schemes tailored to individual needs. By providing a rapid and precise determination of insurance premiums, MLHIPS contributes to curbing healthcare expenditure, thereby enhancing accessibility to quality healthcare services. This research underscores the pivotal role of ML in revolutionizing the insurance industry, paving the way for efficient cost prediction and expenditure control in the healthcare sector.

Published Paper   E-Certificate

"MEDICAL HEALTH INSURANCE PRICE PREDICTION", IJNRD - INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (www.IJNRD.org), ISSN:2456-4184, Vol.9, Issue 4, page no.e592-e603, April-2024, Available :https://ijnrd.org/papers/IJNRD2404463.pdf

Volume 9 Issue 4, April-2024

Pages : e592-e603

Paper Reg. ID: IJNRD_218712

Published Paper Id: IJNRD2404463

Downloads: 000121216

Research Area: Engineering

Country: Hyderabad, Telangana, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2404463.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2404463

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Publisher: IJNRD (IJ Publication) Janvi Wave

This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition

Call For Paper - Volume 10 | Issue 8 | August 2025

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INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (IJNRD) aims to explore advances in research pertaining to applied, theoretical and experimental Technological studies. The goal is to promote scientific information interchange between researchers, developers, engineers, students, and practitioners working in and around the world. IJNRD will provide an opportunity for practitioners and educators of engineering field to exchange research evidence, models of best practice and innovative ideas.

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