Dataverse Hack

Analytics Vidhya is India's largest data science community platform which is a complete portal serving all knowledge and career needs of data enthusiasts and professionals.

Dataverse

We present to you a series of hackathons where you will get to work on real-life data science problems, improve your skill set and hack your way to the top of the hackathon leaderboard and win exciting prizes. 

Start your data science hackathon journey today!

About Hackathon:

Insurance Claim Prediction

An insurance policy is an agreement between a company and a customer by which a company undertakes to provide a guarantee of compensation for specified loss, damage or illness in return for the payment of a specified premium. A premium is a sum of money that the customer needs to pay regularly to an insurance company for this guarantee.

For example, you pay a premium of Rs. 3000/- each year for car insurance with a coverage of Rs. 100,000/-. Unfortunately, in case of an accident, the car is severely damaged. In that case, the insurance provider company will bear the cost of damage etc. for up to Rs. 100,000. 

Now if you are wondering how can a company bear such a high cost when it charges a premium of only Rs. 3000/- per year only i.e. where the concept of probability comes into the picture. For example, there might be thousands of customers who would be paying a premium of Rs. 3000 every year just like you, but only a few of them (say 2-3) would have had an accident that year and not everyone. This way everyone shares the risk of everyone else.

Our client is an Insurance company that provides insurance for cars to its customers. In this hackathon, you will be closely working with the insurer in understanding the behaviour of the policyholders.

What is in it for YOU?

1.  Prize Money: The Top three winners will get exciting cash prizes.
2. AV Points: Build your profile on Analytics Vidhya and compete against the top data scientists in the country.
3. AV Courses: Winners will get free access to industry-leading courses in data science.
4. Certificate: The top performers will receive certificates from Analytics Vidhya

Last but not least, the top winner's post on our social media channels.

Prizes:

1st Prize: Cash of Rs 25000 / $ 300 + 250 AV Points + Free Certified AI & ML Black Belt Plus worth Rs 65000 (The defined path to becoming a full-stack data scientist)

2nd Prize: Cash of Rs 15000 / $ 180 + AV Points + Free Masters Program worth Rs 20000

3rd Prize: Cash of Rs 10000 / $ 120 + AV Points + Free AV Courses Coupons worth Rs 15000

TnC:

1. The winner will get a maximum of 250 AV points for this hackathon; rest of the candidates shall get proportional AV points based on their rank on the private leaderboard.

2. Please note that cash prize will be disbursed after deducting TDS (applicable as per government norms)

3. Course will be provided to the team leader or any one member of the team that is nominated by the team leader 

How to Participate?

1. Participants may participate in the hackathon as an individual or as a team of 2-4 members
2. Each team member must first be registered as a participant in the hackathon
3. Any one of the members can create a team by using the tab "Team" in the menu. Following are the steps to form the team:
   1. Enter your team name and click on the "Submit" button
   2. Invite the other participants to join the team, by entering their names in the left box that appears on the screen
   3. Once the invite is sent, the user will receive a link in the mail to join the team
   4. If the invited participants accept your invitation, they get entered into your team 
   5. You can check your team members under the same "Team" tab
   6. Any one of the team members can submit the problem statement

Rules of Participation

1. The contest starts on 13th November 2022, 00:00:00 (IST) and ends on 13th November 2022, 23:59:59 (IST). The data set and the problem statement will be released at the same time.
2. Entries submitted after the contest ends will not be considered.
3. Use of an external dataset is not allowed.
4. Participation is free-of-charge.
5. Throughout the Event, you are expected to respect fellow hackers and act with high integrity.
6. We hold the right to disqualify any participant at any stage of the competition if the participant(s) are deemed to be acting fraudulently.
7. In case of any dispute over rankings and leaderboard, the decision of Analytics Vidhya will be final.