Affiliations: [a] Department of Mathematics, School of Science, King Mongkut’s Institute of Technology Ladkrabang, Bangkok, 10520, Thailand
| [b] Department of Applied Mathematics, Faculty of Science and Technology, Valaya Alongkorn Rajabhat University under the Royal Patronage, Pathum Thani, 13180, Thailand
Correspondence:
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Corresponding author. Busayamas Pimpunchat, Department of Mathematics, School of Science, King Mongkut’s Institute of Technology Ladkrabang, Bangkok, 10520, Thailand. E-mail: busayamas.pi@kmitl.ac.th.
Note: [1] More accurate simulation for insurance data based on a modified SVM polynomial method.
Abstract: This study aims to present the modified SVM polynomial method in order to evaluate insurance data. The research methodology discusses classical and modified SVM polynomial methods by R programming, and uses performance profiles to create the most preferable methods. It offers a new algorithm called an accurate evaluating algorithm as the way to construct the modified SVM polynomial method. The classical SVM polynomial method is also represented as the main idea in finding the modified polynomial SVM method. Model Performance Evaluation (MPE), Receiver Operating Characteristics (ROCs) Curve, Area Under Curve (AUC), partial AUC (pAUC), smoothing, confidence intervals, and thresholds are further named an accurate evaluating algorithm, employed to build the modified SVM polynomial method. The research paper also presents the best performance profiles based on the computing time and the number of iterations of both classical and modified SVM polynomial methods. Performance profiles show numerical comparisons based on both methods involving insurance data also displayed in this paper. It can be concluded that applying an accurate evaluating algorithm on the modified SVM polynomial method will improve the data accuracy up to 86% via computing time and iterations compared to the classical SVM polynomial method, which is only 79%. This accurate evaluating algorithm can be applied to various large-sized data by utilizing R programming with changing any suitable kernels for that data. This vital discovery will offer solutions for faster and more accurate data analysis that can benefit researchers, the private sector, or governments struggling with data.
