KAFKOVÁ, Silvie. A Comparison of Several Bonus Malus Systems. In Cetin Bektas. Procedia Economics and Finance. 2015th ed. Amsterdam: Elsevier B.V. p. 188-193. ISSN 2212-5671. doi:10.1016/S2212-5671(15)00918-1. 2015.
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Basic information
Original name A Comparison of Several Bonus Malus Systems
Authors KAFKOVÁ, Silvie (203 Czech Republic, guarantor, belonging to the institution).
Edition 2015. vyd. Amsterdam, Procedia Economics and Finance, p. 188-193, 6 pp. 2015.
Publisher Elsevier B.V.
Other information
Original language English
Type of outcome Proceedings paper
Field of Study 50600 5.6 Political science
Confidentiality degree is not subject to a state or trade secret
Publication form electronic version available online
RIV identification code RIV/00216224:14560/15:00089166
Organization unit Faculty of Economics and Administration
ISSN 2212-5671
Doi http://dx.doi.org/10.1016/S2212-5671(15)00918-1
UT WoS 000381990300029
Keywords in English Loimaranta efficiency; bonus malus system; bayesian relativities
Tags International impact, Reviewed
Changed by Changed by: Mgr. Silvie Zlatošová, Ph.D., učo 175424. Changed: 4/10/2016 12:56.
Abstract
The paper deals with the automobile third party liability insurance and several bonus malus system are compared in it on the basis of Loimaranta efficiency. Very important task for actuary is creating rating system that will fairly distributed the burden of claims among policyholders. For these purposes, most insurance companies use generalized linear models, especially Poisson regression. Thanks to these models the a priori tariff structure is created. But some heterogeneity still remains in this tariff structure. Therefore, insurance companies use the bonus malus system that rewards good drivers and penalizes bad drivers. In this paper the bonus malus system for sample of data is created and bayesian relativities are computed. Then this bonus malus system is compared with several bonus malus systems from Czech Republic. The elasticity of these bonus malus systems is examined and then Loimaranta efficiency is used as main tool for comparison these systems.
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