Dynamic pricing for insurance business
Project Task
It is necessary to customize the formation of the optimal cost of the mortgage insurance product, taking into account the prices of competitors.
About Project
To solve the problem, we determined the way in which the price of mortgage insurance is formed.
The optimal price is set according to the profit optimization problem. To determine the profit, we used a formula that takes into account the probability of buying a mortgage insurance policy, loss ratio, expected frequency of an insured event, and others.
The optimal price is set according to the profit optimization problem. To determine the profit, we used a formula that takes into account the probability of buying a mortgage insurance policy, loss ratio, expected frequency of an insured event, and others.
Stages of work
Areas of use
This case study will be of interest to insurance and finance companies to determine the optimal cost of products.
Project team
Alexander Shch.
Lead analyst
Frank Sh.
Python, SQL
Team leader
Project management, analytics
