Risk Assessment for Personalized Health Insurance Based on Real-World Data

Risk Assessment for Personalized Health Insurance Based on Real-World Data

The way one leads their life is considered an important factor in health. In this paper we propose a system to provide risk assessment based on behavior for the health insurance sector. To do so we built a platform to collect real-world data that enumerate different aspects of behavior, and a simula...

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Bibliographic Details
Main Authors: Aristodemos Pnevmatikakis, Stathis Kanavos, George Matikas, Konstantina Kostopoulou, Alfredo Cesario, Sofoklis Kyriazakos
Format: Article
Language:English
Published: MDPI AG 2021-03-01
Series:Risks
Subjects:
machine learning
classification
explainable AI
risk assessment
Online Access:https://www.mdpi.com/2227-9091/9/3/46
Description
Summary:The way one leads their life is considered an important factor in health. In this paper we propose a system to provide risk assessment based on behavior for the health insurance sector. To do so we built a platform to collect real-world data that enumerate different aspects of behavior, and a simulator to augment actual data with synthetic. Using the data, we built classifiers to predict variations in important quantities for the lifestyle of a person. We offer a risk assessment service to the health insurance professionals by manipulating the classifier predictions in the long-term. We also address virtual coaching by using explainable Artificial Intelligence (AI) techniques on the classifier itself to gain insights on the advice to be offered to insurance customers.
ISSN:2227-9091

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