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Business Analytics - Claim Payment Seasonality Chart
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Claim Payments per month (in thousands)
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Claim Seasonality
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Month20172018Month20172018
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Jan110%111%Jan$4,714$4,757
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Feb115%105%Feb$4,929$4,500
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Mar110%119%Mar$4,714$5,100
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Apr120%112%Apr$5,143$4,800
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May125%130%May$5,357$5,571
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Jun90%89%Jun$3,857$3,814
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Jul75%74%Jul$3,214$3,171
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Aug71%63%Aug$3,043$2,700
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Sep85%102%Sep$4,842$4,692
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Oct100%118%Oct$4,286$5,057
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Nov109%101%Nov$4,671$4,329
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Dec107%121%Dec$4,586$5,186
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Analysis Questions
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1.      Based on your Excel chart results, do claim payouts in 2017 and 2018 show any seasonal similarities?
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2.      As the business case states, the payouts are for health insurance claims. Based on your response to question 1, can you speculate as to what specific demographic is insured by this firm?
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Analysis Answers
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1. Based on the chart made I would say that claim payments starting out in the Winter (Januaryu) follow a consistent upward trend until it hit's it's peak at around spring (May). We see a dip in payments consistently droppering per month in the months of June - August in both years 2017 and 2018. Around September, claim payments dramatically rise again during both years.
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2. Based on my previous response I can deduct that the insurer's target demographic is likely to be students/young adults and we see a dramatic dip in payments through the months where schools are typically not in session.
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