Abstract

: In the realm of insurance, accurately predicting the charges or premiums that a policyholder will pay is a critical task. Traditional models may not fully capture the complexities involved due to the multifaceted nature of insurance data. This paper explores the use of machine learning (ML) techniques to predict insurance charges, providing a more data-driven and potentially more accurate method compared to conventional approaches. We will analyze various machine learning models, evaluate their performance, and discuss their potential for use in insurance companies to enhance pricing accuracy and efficiency.