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Masters Competitions: Control Your Data Privacy
Technology Category
- Analytics & Modeling - Data Mining
- Analytics & Modeling - Machine Learning
- Analytics & Modeling - Predictive Analytics
Applicable Industries
- Finance & Insurance
- Healthcare & Hospitals
Applicable Functions
- Business Operation
- Quality Assurance
Services
- Data Science Services
- System Integration
The Challenge
Many companies are cautious about releasing data online due to customer privacy and competitive industry concerns. This is particularly true for industries dealing with sensitive information, such as health insurance. Deloitte Australia faced this challenge when they wanted to offer expanded analytic services to their client, HCF, a health insurance provider. The sensitive nature of health claims data made privacy an ongoing concern, even though the data was anonymized. Deloitte needed a way to leverage advanced data analytics without compromising data privacy or intellectual property (IP).
About The Customer
Deloitte Australia, a branch of the global professional services firm Deloitte, sought to enhance its analytic services for its client, HCF, a health insurance provider. Deloitte is known for offering a wide range of services, including audit, consulting, financial advisory, risk management, and tax services. HCF, on the other hand, is one of Australia's largest health insurance providers, committed to offering comprehensive health coverage to its customers. The collaboration aimed to address the issue of customer churn in the health insurance sector, a critical concern for HCF. Deloitte's expertise in data analytics and consulting made them a suitable partner for this initiative.
The Solution
To address the challenge, Deloitte Australia ran a Kaggle Masters Competition in Q4 2013. The competition was designed to predict which customers would let their health insurance coverage lapse within 12 months. The data used in the competition was anonymized to protect customer privacy. Participants were required to sign Non-Disclosure Agreements (NDAs) before accessing the data. The competition was exclusive to Kaggle 'Masters,' the top 0.25% of the Kaggle community, ensuring high-quality solutions. In total, 46 elite data scientists participated in the 60-day competition, producing innovative solutions that pushed the boundaries of algorithmic development. The winning solutions are currently being explored for implementation by HCF as part of their ongoing customer retention efforts.
Operational Impact
Quantitative Benefit
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