• Bhopal Singh Sharma
• Kushal Pal Singh

The insurance sector is constantly moving towards personalized services, which means that new ways of determining rates are required. In this research, we offer a fuzzy logic-based system for determining individual insurance rates. To improve the accuracy and fairness of premium assessments, this approach makes use of fuzzy logic. When processing input variables, the framework takes into account a wide range of dynamic parameters, such as age, insurance claim history, yearly income, and credit score. Because of the inherent imprecision and uncertainty in real-world data, the membership functions for these input variables have been meticulously built. There has been an intentional use of triangles and trapezoids. The intricate interplay between input data and the desired personalized insurance premiums can be represented by fuzzy rules. Due to its ability to account for varying levels of premium category membership, the framework facilitates an all-encompassing decision-making process. Full testing and comparison with industry-standard methods of premium computing are required to prove the proposed framework's viability. The results show that individuals' risk profiles can be accurately and fairly adapted to when determining insurance prices. In addition, while running, the fuzzy logic system can adjust to new client attributes and shifting market circumstances. By presenting a Fuzzy-Based Framework more adapted to the complex nature of real-world risk variables; this research contributes to the improvement of tailored insurance services. Not only does the suggested method improve the precision of premium estimates, but it also encourages openness and increases customer happiness.

Fuzzy Logic, Insurance Premium, Personalization, Risk Assessment, Claim History, Credit Score, Annual Income.

"A Fuzzy-Based Framework for Personalized Health Insurance Premium Calculations", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 2, page no.f5-f15, February-2024, Available :http://www.jetir.org/papers/JETIR2402502.pdf

"A Fuzzy-Based Framework for Personalized Health Insurance Premium Calculations", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 2, page no. ppf5-f15, February-2024, Available at : http://www.jetir.org/papers/JETIR2402502.pdf