Vehicle Insurance Claim

Project Overview

A car insurance claim is a request for financial compensation that a driver files with an insurance company after their vehicle is damaged or they are injured in a car accident. More than $170 billion in car insurance claims payments are made by U.S. insurance companies each year. While the process can vary between states and insurers, the basic steps are usually the same.
This Dashboard visualizes the number of claims reported and the amount paid for the claims for the state of Midwestern regions in the USA from years 2018 through 2020. It shows the number of claim per year by Midwest of united states, by Age group and Claim type. It also shows Amount per claim, %YoY and % MoM of vehicle insurance claims.

Role:

Problem Statement

Insurance premiums vary from state to state for several reasons, but one major factor that often contributes to auto insurance costs is uninsured drivers. The IRC credits the economic downturn as a leading reason for uninsured drivers. The Financial Responsibility and Insurance Committee of the American Association of Motor Vehicle Administrators reports that 82% of uninsured drivers either cannot afford insurance or do not have a vehicle that is operable or in use. An accident with an uninsured driver can be especially detrimental because of the potential unaffordability of out-of-pocket costs for repairs, injuries or damages. Yet, uninsured drivers are prevalent throughout the U.S.

Executive Summary

Data Dictionary

Key Takeaways

Next Steps

1. Creating Industry KPI’s was challenging; I going through other projects to choose KPI’s related to my dataset, searched through google and Microsoft power bi community to solve the problem.
2. I run into a problem when trying to create the Year over Year DAX expressions that were being used to tell such a big part of the story. After searched through the google and Microsoft power bi community and watched you tube videos I was able to figure it out.