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Recommending Insurance products by using Users' Sentiments

08/05/2021
by   Rohan Parasrampuria, et al.
0

In today's tech-savvy world every industry is trying to formulate methods for recommending products by combining several techniques and algorithms to form a pool that would bring forward the most enhanced models for making the predictions. Building on these lines is our paper focused on the application of sentiment analysis for recommendation in the insurance domain. We tried building the following Machine Learning models namely, Logistic Regression, Multinomial Naive Bayes, and the mighty Random Forest for analyzing the polarity of a given feedback line given by a customer. Then we used this polarity along with other attributes like Age, Gender, Locality, Income, and the list of other products already purchased by our existing customers as input for our recommendation model. Then we matched the polarity score along with the user's profiles and generated the list of insurance products to be recommended in descending order. Despite our model's simplicity and the lack of the key data sets, the results seemed very logical and realistic. So, by developing the model with more enhanced methods and with access to better and true data gathered from an insurance industry may be the sector could be very well benefitted from the amalgamation of sentiment analysis with a recommendation.

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