Lets Start up with the ScoreCard Development Process , as we have covered the basic attributes of Data Segmentation, Clustering and other artifacts related to an unscreened data.
Starting with Medical Health Insurace Sector, Its better to converge all our insight toward understanding the
Medical Claim Data.
Related to this Claim Data , We have a pool of information related to Correlate and Analyse:
1. Types of Claims
2. The Amount that is being Billed under a Category or a Plan (Groups).
3. The Member Information
4. Information pertaining to different Category of Plan and Product.
5. Information on Cluster of Policy data based on Policy Year.
6. Correlation on Risk factor between Claimed Amount and Member information.
Note : For a different domain , the terminologies will be changing but the idea of analysing the data will be continued in the same manner.
Meanwhile , when we have our gathered data ready. We can proceed our analysis on a step based approach.
Please read the forward link to continue
Risk Scoring for Health Insurance Vol. 3