Financial AI Advisor: Insurance Plan Recommendations

Teh, Zhi Lin (2026) Financial AI Advisor: Insurance Plan Recommendations. Final Year Project (Bachelor), Tunku Abdul Rahman University of Management and Technology.

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Abstract

This project focuses on the development of an AI-based Insurance Plan Recommendations Web application that help users in making the best decision on choosing suitable insurance plans based on their personal information, including age, gender, lifestyle, health conditions, and occupation. The main purpose of this project is to address the difficulties of individuals that faced in selecting appropriate insurance coverage due to the complexity of terms and policy of insurance plans. By integrating with AI model, the system enhances user’s decision-making by providing personalized recommendations, risk assessments, plan comparisons, suitability scores, financial consideration, including tax relief and payment structure suggestions. The scope of the project, Financial AI Advisor: Insurance Plan Recommendations involved key modules such as admin management, insurance profile setup, user account management, plan matching, plan selector tools and favourite list. The subsystems will be developed with Python-based AI recommendation engine and a React-based web interface supported by Node.js backend. Techniques and models such as class, ERD, architecture, activity and sequence diagram been used to design the system. Testing was carried out across multiple criteria, including functionality, usability, and accuracy of the AI recommendation subsystem, ensuring reliable results for end users. The outcomes demonstrate that the system effectively simplifies the insurance plan selection process by reducing user uncertainty, improving accessibility of insurance information, and providing transparent comparisons across available options. Overall, the project contributes to bridging the gap between customers and insurance providers, offering a user-friendly platform that integrate AI to improve financial decision-making and planning.