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Data Analysis Project - Design the business plan for distributing insurance to customers

Forecast the business for the upcoming years by Exploring Hidden Trends, Calculating Machine Productivity , Extrapolation and Assumptions and Summarizing Answers through Visualizations.
4.44.4

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What will you learn

  • Plotting in Excel.
  • Use of Pivot table in Excel.
  • Extrapolation in Excel.
  • Getting Trend in Excel.
  • Dynamic Charting.
  • Forecasting.
  • Summarization.

What will you get

  • Access to recording of the complete project
  • Access to all material related to project like data files, solution files etc.

Prerequisites

  • Language used: Python

Project Description

In this data analysis project , you will explore your Excel and Business Intelligence skills on working elements like scorecards, dashboards, data connections, status lists, status indicators.

You need to help Mr. Assurenaut, CEO of AssureNext. AssureNext is a radical insurance company which sits at the intersection of technology and human interaction.

AssureNext has brought some radical changes in the way they distribute Insurance. The first such call was to do away with all traditional distribution channels. So they have no bank tie ups, no agents or any online sales.So, how do they distribute Insurance to end consumers? This is where their innovation comes in. They have created a new channel called "Robossurance", where they are installing smart machines in various locations.

These machines study the consumers in these locations and suggest the best Insurance plans for these customers. Currently, AssureNext is installing these machines in book stores and fine dining restaurants.

AssureNext started in 2009 and has grown multi folds in last 6 years. The company has been facing some challenges lately with manufacturing and scaling up. The customer acquisition rate has not increased as was expected in initial years. Also, the customers have grown blind to the presence of these machines over time.

Mr. Assurenaut is in a tough situation. There is a board meeting in the morning, where the board will review the future plan for AssureNext.

You need to help him create his plan and presentation.

Following Questions should be addressed in the plan:

  1. Making reasonable assumptions (and calling them out), you need to create a forecast for business (Premium received from new policies) in 2016 and 2017.
  2. How many new machines would be required to be installed in order to reach 1,700 Million INR of premium from new policies in 2017
  3. Assuming that you can not manufacture more than 6500 machines in a year and average premium from a policy to be INR 55,000, what should be the expected business in 2016 and 2017 (Quarter on Quarter)