capstone project life insurance sales

Capstone Project

Working on data science projects under expert mentor guidance this program simulates the real-world experience. It aims to equip learners with the skills to solve practical business problems using unclean data and effectively communicate insights to business leaders, enhancing their value to their teams.

Enquire: +1 512 969 6218

6-Week Online Program

3 milestone sessions with industry experts

Live panel presentation

Special E-Portfolio Mention

Certificate of completion

Learning Support, Dedicated Program Manager & Academic Support

About The Capstone Project

You'll work on a 6-week data science project, tackling a real-world business problem with unclean data. To find the best solution, you'll go through the entire data science process, including data cleaning, factor analysis, driver identification, algorithm testing, and model evaluation.

What makes this program unique

What you’ll learn

How to think from a business perspective to evaluate the feasibility and potential business value of your models

Work on projects and case studies

Immerse yourself in real-world projects like Loan Default Prediction - Classification, Customer Churn Prediction - Classification, and more

Hands-on experience

Work on raw and unstructured data, starting from the ground up.

Learn from industry experts

Gain practical knowledge in Data Science, AI, and more from skilled industry experts

Skills you will gain

• Exploratory Data Analysis
• Data Preprocessing
• Machine Learning
• Problem-Solving
• Communication and Presentation

What you will learn in The Capstone Project

Problem and data exploration.

Come up with the initial understanding of some patterns in data

Evaluating Feasibility and Business Value

A business perspective for model analysis

Navigating Real-World Challenges

Untangling unclean data from scratch

Initial Analysis Results

Problem-solving insights and data science techniques

Effective Communication

Presenting to business leaders & non-technical audiences

Get to Know Your Mentors

Learn from highly skilled professionals across industry verticals & have real-world, hands-on work experience

Data Scientist, Revenue Expansion, Shopify

Senior Data Scientist, Walmart

Senior Machine Learning Engineer

Machine Learning Engineer, Sephora

Delivery Lead, Legato Health Technologies

Milestone-1

In the first milestone, the primary objective is to conduct an initial investigation into the problem and the available data, aiming to develop an initial comprehension of certain data patterns.

Milestone-2

In Milestone 2, the emphasis shifts towards the initial findings derived from the ongoing analysis, encompassing the significant data-driven insights related to the problem and initial considerations regarding the range of data science techniques and algorithms that can be explored to address this problem.

Milestone-3

In Milestone 3, the attention is directed towards the outcomes and outputs generated from the various modeling techniques that have been explored. Additionally, it encompasses the valuable insights and recommendations provided for the business based on these results.

Final Report

The comprehensive final report encapsulates the triumphant resolution of the business problem, showcasing an executive summary, the ingenious approach employed, and the compelling relevance and practicality of the conclusive findings.

Final Presentation

In the captivating final presentation, the spotlight shines on the invaluable insights and their dynamic delivery to the esteemed business stakeholders and visionary leadership team.

Covid 19 Diagnosis - Classification

Face mask identification - classification, loan default prediction - classification, customer churn prediction - classification, life insurance sales prediction - regression, house price prediction - regression, malaria detection - classification, emotions detection - classification, earn your certificate.

Enhance your resume with a certificate in Capstone Project from Great Learning & share it with your professional network.

Hear what our learners have to say

The opportunity to take this course to improve my learning in an area that is quite relevant was the reason I took this course. I enjoyed it, I think the pace was very good. Breaking up the project into the milestones that were requested gave enough time for work to be done

Robert K Drobitch

Professor, D'Youville College

Most valuable thing I learned is featuring engineering, part where you are manipulating the data, cleaning the data and creating new features, helped a lot with the execution and performance of the models

Victor Manuel Martinez Cairo Santos

Data Analyst, Encino Environmental Services, LLC

Success Stories

Jorge Alberto Cruz

System payment analyst, Banco de Mexico

I'd never been in a Capstone Project, this was my first experience and I felt so motivated each milestone, I believe this won't be the last Capstone Project due to I like more and more this Data Science field and that feeling of doing what you are passionate about came back to me.

Data Scientist, Encino Environmental Services, LLC

I received very valuable insights and feedback from our mentor. Our program manager provided high quality support throughout the program. Everyone in the group meetings was highly engaged in the material. I had a lot of good opportunities to improve my skills in feature engineering which helped achieve good performing models.

Sailaja Tallamraju

Sr. SDE, Microsoft

I have an excellent experience overall both with mentors and program office support. All my last minute requests were really taken care of with lot of support from program office (program manager is excellent). I highly recommend this program because my first Interview was from a financial group and capstone project is what they really interested in. And I successfully cleared my interview and got the offer.

Agbonluai Odiaua

QA/QC Supervisor, Kaduna Refining and Petrochemical Company

The capstone project proved to be a worthwhile experience and has given me a look at real life application of all that I have learned in the program.

Still have queries? Contact Us

Please fill in the form and an expert from the admissions office will call you in the next 4 working hours. You can also reach out to us at [email protected] or +1 512 969 6218.

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Amit Capstone Project - Analytics in Insurance

Amit Shinde May 15 2017

About Myself

Big data and predictive analytics in insurance, insurance claim processing.

Types of Analytics defining Future of the Insurance Industry

Barriers and challenges to using big data

A software engineer in CRM industry looking to transition into world of Data Science.

Completed 10 course Data Science Certification along with a Capstone project from John Hopkins University.

Completed Machine Engineering Certification from Stanford University.

Learning various skillsets from MOOC like R, Python, Tableau etc.

Goal is to become a Data Scientist.

Big data has captured the attention of companies in most industries, including life insurance. Extracting useful insights from big data requires careful planning and execution of advanced analytical techniques and technologies. To be successful, insurers must have the right people, systems and processes in place.

The property and casualty (P&C) insurance industry is further along in using advanced analytics in not only to improve the risk selection but also offer customers the new products. For example, a growing number of auto insurers now offer usage-based insurance products that use technology to monitor driving behavior and reward good driving with a discount. Tech-savvy Millennials in particular, find these products appealing and believe usage-based insurance is a much better approach for policy underwriting than the traditional methods, such as credit scores.

With so many claims to handle and process, the adjusters just don’t have much time on hand to sift through all of that data to evaluate each claim. Additionally, they may as well not make the best decision if they miss even a valuable piece of information. Working alongside adjusters, analytics can flag claims for closer inspection, priority handling and much more.

Here are the six areas where analytics can make a big difference:

• Subrogation
• Loss reserve

continue …….

1 out of 10 insurance claims is fraudulent. Most fraud solutions on the market today are rules-based. Unfortunately, it is too easy for fraudsters to manipulate and get around the rules. Predictive analysis, on the other hand, uses a combination of rules, modeling, text mining, database searches and exception reporting to identify fraud sooner and more effectively at each stage of the claims’ cycle.

Subrogation:

Opportunities for subro often get lost in the sheer volume of data – most of it in the form of police records, adjuster notes and medical records. Text analytics searches through this unstructured data to find phrases that typically indicate a subro case. By pinpointing subro opportunities earlier, one can maximize loss recovery while reducing the loss expenses.

Settlement:

To lower costs and ensure fairness, insurers often implement fast-track processes that settle claims instantly. But settling a claim on-the-fly can be costly if one overpay.By analyzing claims and claim histories, one can optimize the limits for instant payouts. Analytics can also shorten the claim’s cycle times for higher customer satisfaction and reduced labor costs. It also ensures significant savings on things such as rental cars for auto repair claims.

Loss reserve:

When a claim is first reported, it is nearly impossible to predict its size and duration. But accurate loss reserving and claims forecasting is essential, especially in long-tail claims like liability and worker's compensation. Analytics can more accurately calculate loss reserve by comparing a loss with similar claims.

It makes sense to put your more experienced adjusters on the most complex claims. But claims are usually assigned based on limited data – resulting in high reassignment rates that affect the claim duration, settlement amounts and ultimately, the customer experience. Data mining techniques cluster and group loss characteristics to score, prioritize and assign claims to the most appropriate adjuster based on experience and loss type. In some cases, claims can even be automatically adjudicated and settled.

Litigation:

A significant portion of the company’s loss adjustment expense ratio goes to defending the disputed claims. Insurers can use analytics to calculate a litigation propensity score to determine which claims are more likely to result in litigation. one can then assign those claims to more senior adjusters who are more likely to be able to settle the claims sooner and for lower amounts.

Why make analytics a part of your claims processing? Because as insurance becomes a commodity, it becomes more important for carriers to differentiate themselves. Adding analytics to the claims life cycle can deliver a measurable ROI with cost savings. Just a 1% improvement in the loss ratio for a $1 billion insurer is worth more than $7 million on the bottom line.

Analytics types defining Future of Insurance

Research shows that big data and analytics are dominating the minds of insurance carriers as they strive to stay ahead of competition in today's insurance industry.

We’ve talked about what makes big data ‘Big’ and how access to SO much data can leave us feeling overwhelmed!! But when data analytics are divided into these four categories, understanding what is possible for your agency becomes much more manageable and time-friendly.

Through descriptive, diagnostic, predictive and prescriptive analytics methodologies, insurance firms can use all the data available to them and in turn, make their business more efficient while providing better care for their customers. Let's take a look at what each type of analytics mean and, more importantly, how each can help independent agents and its carriers, and the insurance industry as a whole.

Descriptive Analytics and Insurance

Diagnostic analytics and insurance, predictive analytics and insurance, prescriptive analytics and insurance.

Descriptive analytics consist of any results capable of being analyzed and synthesized to further benefit a business such as page views and web activity, social interactions, blog mentions and more. According to the Information Week, more than 80 percent of the analytics business deal with, are descriptive and this is where the insurance carriers start in their analytics journey. Here is the video which is data focused and does a great job showing off Progressive’s big data capabilities.

Once insurance companies find the raw data that powers descriptive analytics, the next evolution in the analytics journey is turning those into diagnostic analytics. This means examining the data to answer the “why”. A common form of diagnostic analytics is ‘regression analysis’, which can be used to estimate the relationships among variables, drill-down analysis to discover a cause, and deep data mining to discover correlations.

continue ……

Predictive analytics find their power in their ability to maximize efficiency. Customers are happier when greeted by tailored, custom experiences. Employees are happier when they can provide customers with better service. Additionally, they help the insurance companies save money by predicting future events and saving more time to plan accordingly. Seeing the ‘what’ and the ‘why’ provided by descriptive analytics and diagnostic analytics allow the insurance carriers to anticipate trends and pivot so they are well-prepared.

By using all the above-mentioned forms of analytics to better understand their customers, the likelihood of actions, and the ramifications for those specific events, insurance companies can use prescriptive analytics to optimize their strategies and improve their businesses. Prescriptive analytics recommend one or more courses of action which can be measured and refined based on the results. Prescriptive analytics are always evolving but are of crucial importance to put the rest of the work a company has done gathering and organizing data to its optimal use. An example of how prescriptive analytics are used in the healthcare industry is when providers measure clinically obese patients and then use risk factors for conditions such as high cholesterol and diabetes to determine where to focus the treatment.

Life insurers recognize that in order to realize the potential big data offers, they must first address a number of barriers and challenges. The biggest barrier identified in our survey is infrastructure limitations (71% of respondents). Financial constraints were also cited by over half (54%) and the lack of knowledge and expertise ranked third. Half or more survey respondents also pinpoint top barriers to harnessing big data as conflicting priorities, data availability (both 54%) and people, including resources, training, skills and capabilities (50%).

continue…

Although life insurers are still in the early days of realizing the full potential of both big data and predictive analytics, many have their eyes on the prize and are taking aggressive steps to move-forward. Commitment will be as important as technology. The most successful companies will attract and retain the right people, develop an integrated strategy across business functions and invest wisely in reliable technology.

DataScience has fascinated me since I started learning about it. I am enjoying this journey ever since I started about couple of years ago. Only time will tell if it “really” is a sought-after job of the 21st century or not!

I have gained immense knowledge but it feels as if I might have just barely touched the surface of ocean!

This valuable program will serve as a catalyst to where I see my career in future.

References:

How are life insurers planning to use big data and predictive analytics? by Willis Towers Watson, December 22, 2016

6 ways big data analytics can improve insurance claims processing, SAS Institute Inc.

4 Types of Analytics Defining the Future of the Insurance Industry by Guy Weismantel Digital Insurer, August 16, 2016

Data Scientist: The Sexiest Job of the 21st Century by Thomas H. Davenport & D.J. Patil, October 2012

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40 facts about elektrostal.

Written by Lanette Mayes

Modified & Updated: 02 Mar 2024

Reviewed by Jessica Corbett

Elektrostal is a vibrant city located in the Moscow Oblast region of Russia. With a rich history, stunning architecture, and a thriving community, Elektrostal is a city that has much to offer. Whether you are a history buff, nature enthusiast, or simply curious about different cultures, Elektrostal is sure to captivate you.

This article will provide you with 40 fascinating facts about Elektrostal, giving you a better understanding of why this city is worth exploring. From its origins as an industrial hub to its modern-day charm, we will delve into the various aspects that make Elektrostal a unique and must-visit destination.

So, join us as we uncover the hidden treasures of Elektrostal and discover what makes this city a true gem in the heart of Russia.

Key Takeaways:

• Elektrostal, known as the “Motor City of Russia,” is a vibrant and growing city with a rich industrial history, offering diverse cultural experiences and a strong commitment to environmental sustainability.
• With its convenient location near Moscow, Elektrostal provides a picturesque landscape, vibrant nightlife, and a range of recreational activities, making it an ideal destination for residents and visitors alike.

Known as the “Motor City of Russia.”

Elektrostal, a city located in the Moscow Oblast region of Russia, earned the nickname “Motor City” due to its significant involvement in the automotive industry.

Home to the Elektrostal Metallurgical Plant.

Elektrostal is renowned for its metallurgical plant, which has been producing high-quality steel and alloys since its establishment in 1916.

Boasts a rich industrial heritage.

Elektrostal has a long history of industrial development, contributing to the growth and progress of the region.

Founded in 1916.

The city of Elektrostal was founded in 1916 as a result of the construction of the Elektrostal Metallurgical Plant.

Located approximately 50 kilometers east of Moscow.

Elektrostal is situated in close proximity to the Russian capital, making it easily accessible for both residents and visitors.

Known for its vibrant cultural scene.

Elektrostal is home to several cultural institutions, including museums, theaters, and art galleries that showcase the city’s rich artistic heritage.

A popular destination for nature lovers.

Surrounded by picturesque landscapes and forests, Elektrostal offers ample opportunities for outdoor activities such as hiking, camping, and birdwatching.

Hosts the annual Elektrostal City Day celebrations.

Every year, Elektrostal organizes festive events and activities to celebrate its founding, bringing together residents and visitors in a spirit of unity and joy.

Has a population of approximately 160,000 people.

Elektrostal is home to a diverse and vibrant community of around 160,000 residents, contributing to its dynamic atmosphere.

Boasts excellent education facilities.

The city is known for its well-established educational institutions, providing quality education to students of all ages.

A center for scientific research and innovation.

Elektrostal serves as an important hub for scientific research, particularly in the fields of metallurgy, materials science, and engineering.

Surrounded by picturesque lakes.

The city is blessed with numerous beautiful lakes, offering scenic views and recreational opportunities for locals and visitors alike.

Well-connected transportation system.

Elektrostal benefits from an efficient transportation network, including highways, railways, and public transportation options, ensuring convenient travel within and beyond the city.

Famous for its traditional Russian cuisine.

Food enthusiasts can indulge in authentic Russian dishes at numerous restaurants and cafes scattered throughout Elektrostal.

Home to notable architectural landmarks.

Elektrostal boasts impressive architecture, including the Church of the Transfiguration of the Lord and the Elektrostal Palace of Culture.

Offers a wide range of recreational facilities.

Residents and visitors can enjoy various recreational activities, such as sports complexes, swimming pools, and fitness centers, enhancing the overall quality of life.

Provides a high standard of healthcare.

Elektrostal is equipped with modern medical facilities, ensuring residents have access to quality healthcare services.

Home to the Elektrostal History Museum.

The Elektrostal History Museum showcases the city’s fascinating past through exhibitions and displays.

A hub for sports enthusiasts.

Elektrostal is passionate about sports, with numerous stadiums, arenas, and sports clubs offering opportunities for athletes and spectators.

Celebrates diverse cultural festivals.

Throughout the year, Elektrostal hosts a variety of cultural festivals, celebrating different ethnicities, traditions, and art forms.

Electric power played a significant role in its early development.

Elektrostal owes its name and initial growth to the establishment of electric power stations and the utilization of electricity in the industrial sector.

Boasts a thriving economy.

The city’s strong industrial base, coupled with its strategic location near Moscow, has contributed to Elektrostal’s prosperous economic status.

Houses the Elektrostal Drama Theater.

The Elektrostal Drama Theater is a cultural centerpiece, attracting theater enthusiasts from far and wide.

Popular destination for winter sports.

Elektrostal’s proximity to ski resorts and winter sport facilities makes it a favorite destination for skiing, snowboarding, and other winter activities.

Promotes environmental sustainability.

Elektrostal prioritizes environmental protection and sustainability, implementing initiatives to reduce pollution and preserve natural resources.

Home to renowned educational institutions.

Elektrostal is known for its prestigious schools and universities, offering a wide range of academic programs to students.

Committed to cultural preservation.

The city values its cultural heritage and takes active steps to preserve and promote traditional customs, crafts, and arts.

Hosts an annual International Film Festival.

The Elektrostal International Film Festival attracts filmmakers and cinema enthusiasts from around the world, showcasing a diverse range of films.

Encourages entrepreneurship and innovation.

Elektrostal supports aspiring entrepreneurs and fosters a culture of innovation, providing opportunities for startups and business development.

Offers a range of housing options.

Elektrostal provides diverse housing options, including apartments, houses, and residential complexes, catering to different lifestyles and budgets.

Home to notable sports teams.

Elektrostal is proud of its sports legacy, with several successful sports teams competing at regional and national levels.

Boasts a vibrant nightlife scene.

Residents and visitors can enjoy a lively nightlife in Elektrostal, with numerous bars, clubs, and entertainment venues.

Promotes cultural exchange and international relations.

Elektrostal actively engages in international partnerships, cultural exchanges, and diplomatic collaborations to foster global connections.

Surrounded by beautiful nature reserves.

Nearby nature reserves, such as the Barybino Forest and Luchinskoye Lake, offer opportunities for nature enthusiasts to explore and appreciate the region’s biodiversity.

Commemorates historical events.

The city pays tribute to significant historical events through memorials, monuments, and exhibitions, ensuring the preservation of collective memory.

Promotes sports and youth development.

Elektrostal invests in sports infrastructure and programs to encourage youth participation, health, and physical fitness.

Hosts annual cultural and artistic festivals.

Throughout the year, Elektrostal celebrates its cultural diversity through festivals dedicated to music, dance, art, and theater.

Provides a picturesque landscape for photography enthusiasts.

The city’s scenic beauty, architectural landmarks, and natural surroundings make it a paradise for photographers.

Connects to Moscow via a direct train line.

The convenient train connection between Elektrostal and Moscow makes commuting between the two cities effortless.

A city with a bright future.

Elektrostal continues to grow and develop, aiming to become a model city in terms of infrastructure, sustainability, and quality of life for its residents.

In conclusion, Elektrostal is a fascinating city with a rich history and a vibrant present. From its origins as a center of steel production to its modern-day status as a hub for education and industry, Elektrostal has plenty to offer both residents and visitors. With its beautiful parks, cultural attractions, and proximity to Moscow, there is no shortage of things to see and do in this dynamic city. Whether you’re interested in exploring its historical landmarks, enjoying outdoor activities, or immersing yourself in the local culture, Elektrostal has something for everyone. So, next time you find yourself in the Moscow region, don’t miss the opportunity to discover the hidden gems of Elektrostal.

Q: What is the population of Elektrostal?

A: As of the latest data, the population of Elektrostal is approximately XXXX.

Q: How far is Elektrostal from Moscow?

A: Elektrostal is located approximately XX kilometers away from Moscow.

Q: Are there any famous landmarks in Elektrostal?

A: Yes, Elektrostal is home to several notable landmarks, including XXXX and XXXX.

Q: What industries are prominent in Elektrostal?

A: Elektrostal is known for its steel production industry and is also a center for engineering and manufacturing.

Q: Are there any universities or educational institutions in Elektrostal?

A: Yes, Elektrostal is home to XXXX University and several other educational institutions.

Q: What are some popular outdoor activities in Elektrostal?

A: Elektrostal offers several outdoor activities, such as hiking, cycling, and picnicking in its beautiful parks.

Q: Is Elektrostal well-connected in terms of transportation?

A: Yes, Elektrostal has good transportation links, including trains and buses, making it easily accessible from nearby cities.

Q: Are there any annual events or festivals in Elektrostal?

A: Yes, Elektrostal hosts various events and festivals throughout the year, including XXXX and XXXX.

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Metallurgicheskii Zavod Electrostal AO (Russia)

In 1993 "Elektrostal" was transformed into an open joint stock company. The factory occupies a leading position among the manufacturers of high quality steel. The plant is a producer of high-temperature nickel alloys in a wide variety. It has a unique set of metallurgical equipment: open induction and arc furnaces, furnace steel processing unit, vacuum induction, vacuum- arc furnaces and others. The factory has implemented and certified quality management system ISO 9000, received international certificates for all products. Elektrostal today is a major supplier in Russia starting blanks for the production of blades, discs and rolls for gas turbine engines. Among them are companies in the aerospace industry, defense plants, and energy complex, automotive, mechanical engineering and instrument-making plants.

Headquarters Ulitsa Zheleznodorozhnaya, 1 Elektrostal; Moscow Oblast; Postal Code: 144002

Contact Details: Purchase the Metallurgicheskii Zavod Electrostal AO report to view the information.

Website: http://elsteel.ru

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