# Optimisation of R&R contests for a life insurance company using predictive and prescriptive analytics¶

Project done at Indian Institute of Management, Bangalore for an Indian large life insurance company.

**Technologies used**: R, Excel, Google Colab **Timeline** : Dec 2019 - April 2020

**Awards**: Awarded *Highly commended project* for the BAI batch of 2019-20 at IIM Bangalore.

**POC**: Contest Insights Dashboard

**Project report**: Download from DCAL IIMB website

**Problem Statement**: Building optimal Reward and Recognition contests for agents of a large life insurance company.

Forecasting sales of an agent

- Built a regression model which can explain 97% variation in sales
- Quantified the lift generated due to different contest parameters

Clustering of agents based on their capacity

- Identifying the factors which affect the maximum capacity of sales of an agent and clustering the agents based on them

Simulation and optimization of contest parameters

- Simulated the cumulative sales for different contest parameters in each cluster of agents
- Identified the most optimal parameters based on budget and other constraints