MUMBAI, India, Aug. 10 -- Intellectual Property India has published a patent application (202411104548 A) filed by Lingaya'S Vidyapeeth on December 30, 2024, for Method For Predicting Medical Insurance Price.
Inventors include Mr. Bhavik Kuchipudi; Mr. Viraj Gadde; Avinash Kumar Namdeo; Dr. Chinnaiyan Ramasubramanian; Dr Salla Prabhakara; Dr S Koteswara Rao; Dr Vakkapatla Kiranbabu; Dr. Jyoti Dahia; Dr. Shikha Gupta; Dr. Anjali Bharadwaj; Dr. Sachin Kumar; Mr. Gurbinder Singh; Dr. Pratibha Saini; Dr. Shweta Gaur; and Mr. Sandeep Kumar.
The application for the patent was published on July 31, 2026, under issue no. 31/2026.
Abstract: ABSTRACT METHOD FOR PREDICTING MEDICAL INSURANCE PRICE A method (100) for predicting medical insurance price. Further, the method comprising collecting and pre-processing a diverse dataset containing demographic, medical, lifestyle, and insurance coverage variables. Further, the method (100) comprising the steps of applying feature engineering and training multiple machine learning algorithms on the dataset. Further, the method (100) comprising the steps of evaluating model performance using validation metrics and selecting the best-performing model. Further, the method (100) comprising the steps of utilizing the selected model to predict medical insurance prices for new data inputs and providing insights for insurers to assess risk and set premiums. FIG. 1
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