Insurance Meets Sentiment: An Empirical Study of Attitudes Toward Life, Health, and P&C Insurances

Sentiment Analysis, an up-and-coming subfield of Natural Language Processing (NLP), contains previously untapped potential that can be utilized to drive better business decision making. In this paper, we employ state-of-the-art sentiment analysis tools to compare the performances of traditional classification algorithms – namely Support Vector Machines (SVMs), bagging, boosting, random forest, and decision tree classifiers – on insurance-related textual data. We successfully demonstrate that algorithms such as bagging and boosting, which were constructed to enhance the performance of simpler algorithms such as decision tree classifiers, offer only marginal improvements in terms of classification accuracy and certain performance metrics for our data. However, the improved accuracy comes as the cost of slightly higher runtimes. Insurance companies could apply these findings to choose suitable algorithms and gain a more nuanced understanding of the needs of their insureds. Index Terms— Sentiment Analysis, Textual Analysis, Machine Learning, Natural Language Processing (NLP), Opinion Mining (OM

Forecasting transport mode use with support vector machines based approach

The paper explores potential to forecast what transport mode one will use for his/her next trip. The support vector machines based approach learns from individual's behavior (validated GPS tracks) to support smart city transport planning services. The overall success rate, in forecasting the transport mode, is 82 %, with lower confusion for private car, bike and walking

Ensemble Committees for Stock Return Classification and Prediction

This paper considers a portfolio trading strategy formulated by algorithms in the field of machine learning. The profitability of the strategy is measured by the algorithm's capability to consistently and accurately identify stock indices with positive or negative returns, and to generate a preferred portfolio allocation on the basis of a learned model. Stocks are characterized by time series data sets consisting of technical variables that reflect market conditions in a previous time interval, which are utilized produce binary classification decisions in subsequent intervals. The learned model is constructed as a committee of random forest classifiers, a non-linear support vector machine classifier, a relevance vector machine classifier, and a constituent ensemble of k-nearest neighbors classifiers. The Global Industry Classification Standard (GICS) is used to explore the ensemble model's efficacy within the context of various fields of investment including Energy, Materials, Financials, and Information Technology. Data from 2006 to 2012, inclusive, are considered, which are chosen for providing a range of market circumstances for evaluating the model. The model is observed to achieve an accuracy of approximately 70% when predicting stock price returns three months in advance.Comment: 15 pages, 4 figures, Neukom Institute Computational Undergraduate Research prize - second plac

Deep learning for supervised classification

One of the most recent area in the Machine Learning research is Deep Learning. Deep Learning algorithms have been applied successfully to computer vision, automatic speech recognition, natural language processing, audio recognition and bioinformatics. The key idea of Deep Learning is to combine the best techniques from Machine Learning to build powerful general‑purpose learning algorithms. It is a mistake to identify Deep Neural Networks with Deep Learning Algorithms. Other approaches are possible, and in this paper we illustrate a generalization of Stacking which has very competitive performances. In particular, we show an application of this approach to a real classification problem, where a three-stages Stacking has proved to be very effective

Benchmark of machine learning methods for classification of a Sentinel-2 image

Thanks to mainly ESA and USGS, a large bulk of free images of the Earth is readily available nowadays. One of the main goals of remote sensing is to label images according to a set of semantic categories, i.e. image classification. This is a very challenging issue since land cover of a specific class may present a large spatial and spectral variability and objects may appear at different scales and orientations. In this study, we report the results of benchmarking 9 machine learning algorithms tested for accuracy and speed in training and classification of land-cover classes in a Sentinel-2 dataset. The following machine learning methods (MLM) have been tested: linear discriminant analysis, k-nearest neighbour, random forests, support vector machines, multi layered perceptron, multi layered perceptron ensemble, ctree, boosting, logarithmic regression. The validation is carried out using a control dataset which consists of an independent classification in 11 land-cover classes of an area about 60 km2, obtained by manual visual interpretation of high resolution images (20 cm ground sampling distance) by experts. In this study five out of the eleven classes are used since the others have too few samples (pixels) for testing and validating subsets. The classes used are the following: (i) urban (ii) sowable areas (iii) water (iv) tree plantations (v) grasslands. Validation is carried out using three different approaches: (i) using pixels from the training dataset (train), (ii) using pixels from the training dataset and applying cross-validation with the k-fold method (kfold) and (iii) using all pixels from the control dataset. Five accuracy indices are calculated for the comparison between the values predicted with each model and control values over three sets of data: the training dataset (train), the whole control dataset (full) and with k-fold cross-validation (kfold) with ten folds. Results from validation of predictions of the whole dataset (full) show the random forests method with the highest values; kappa index ranging from 0.55 to 0.42 respectively with the most and least number pixels for training. The two neural networks (multi layered perceptron and its ensemble) and the support vector machines - with default radial basis function kernel - methods follow closely with comparable performanc