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CustomerProfile
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Exploration and Customer Profile (Page 10/11 of the report):
From the explored data mining algorithms and analysis, we can make a fair prediction about the profile of a typical customer who buys the company's insurance policy. However, it must be kept in mind that these are not necessary predictors of someone to purchase the policy, but are sufficient enough to assume that a person would buy the policy. So someone with or without a boat policy is also expected to purchase the insurance.
Persons who are more likely to buy the client's insurance policy are generally:
1. Persons of high income groups who possess high purchasing power.
2. Inhabitants of high-education neighbourhoods.
3. Those who have more than one car and often own a boat as well.
4. Those who have third party insurance.
5. Those having a car policy, boat policy and/or fire policy for protection. Thus we can assume that persons who are risk averse by nature would buy the Caravan policy.
6. Married with more than one child.
7. Middle-aged persons. Who can sustain a lavish lifestyle.
8. Traditional families living in small cities.
9. High status retirees: Senior citizens who and are maintaining a high standard of living.