Bonus-Malus Systems in Vehicle Insurance

KAFKOVÁ, Silvie. Bonus-Malus Systems in Vehicle Insurance. In Iacob, AI. Procedia Finance and Economics. Amsterdam: Elsevier B.V., 2015, s. 216-222. ISSN 2212-5671. Dostupné z: https://doi.org/10.1016/S2212-5671(15)00354-8.

Základní údaje

Originální název

Bonus-Malus Systems in Vehicle Insurance

Autoři

KAFKOVÁ, Silvie

Vydání

Amsterdam, Procedia Finance and Economics, od s. 216-222, 7 s. 2015

Nakladatel

Elsevier B.V.

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Další údaje

Jazyk

angličtina

Typ výsledku

Stať ve sborníku

Obor

50600 5.6 Political science

Utajení

není předmětem státního či obchodního tajemství

Forma vydání

tištěná verze "print"

Kód RIV

RIV/00216224:14560/15:00082157

Organizační jednotka

Ekonomicko-správní fakulta

ISSN

DOI

https://doi.org/10.1016/S2212-5671(15)00354-8

UT WoS

000360103600032

Klíčová slova anglicky

annual claim frequency; generalized linear model; bonus.-malus system; analysis of deviance

Příznaky

Mezinárodní význam, Recenzováno

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Anotace

V originále

Actuaries in insurance companies try to design a tariff structure that will fairly distribute the burden of claims among policyholders. Therefore they try to find the best model for an estimation of the insurance premium. The paper deals with an estimate of a priori annual claim frequency and application of bonus-malus system in the vehicle insurance. In this paper, analysis of the portfolio of vehicle insurance data using generalized linear model (GLM) is performed. Based on large real-world sample of data from 67 857 vehicles, the present study proposes a classification analysis approach addressing the selection of predictor variables. The models with different predictor variables are compared by the analysis of deviance. Based on this comparison, the model for the best estimate of annual claim frequency is chosen. Then the bonus-malus (BM) system is used for each class of drivers and Bayesian relative premium is calculated. Finally a fairer premium for different groups of drivers is proposed.