The application of machine learning algorithm in underwriting process

This paper firstly analyses the actual underwriting methods of Chinese life insurance companies, and points out the merits and shortcomings of these methods. Then the incomplete database of insurance company is mined by the data mining's association rule algorithm. Thirdly the support vector machine (SVM) is applied to the underwriting process to classify the applicants. Finally the directions for improving this algorithm are pointed out. The algorithm proposed in this paper has promising future in underwriting process.