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The Optimal Bonus-Malus System: Case of The Democratic Republic of Congo
InPrimeAutomobile insurance is required in most African nations, and it is the most significant branch in the Democratic Republic of the Congo (DRC); if the automobile branches are poorly managed, this could even result in the insurance company's insolvency.
Crispin Bukanga Maheshe +1 more
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THE BONUS-MALUS SYSTEM MODELLING USING THE TRANSITION MATRIX [PDF]
Challenges of the Knowledge Society, 2012 The motor insurance is an important branch of non-life insurance in many countries; in some of them, coming first in total premium income category (in Romania, for example).
SANDRA TEODORESCU
doaj
BarekengMotor vehicle usage in Indonesia ranks among the highest globally, reaching approximately 141,992,573 units. The growing variety and number of automobiles contribute significantly to traffic congestion and heightened risks to public safety.
Seftina Diyah Miasary +2 more
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Early Medieval Europe, EarlyView.This article presents a newly discovered Latin text: a theological treatise titled Liber testimoniorum veteris testamenti that was written by Alcuin’s friend Candidus (Wizo) at the request of Charlemagne. By discussing selected passages from the Heptateuch, Candidus seeks to demonstrate that Jesus Christ and the Holy Spirit, thus the whole Christian ...
Lukas J. Dorfbauer
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Risks, 2020 This article presents the Poisson-Inverse Gamma regression model with varying dispersion for approximating heavy-tailed and overdispersed claim counts. Our main contribution is that we develop an Expectation-Maximization (EM) type algorithm for maximum ...
George Tzougas
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The Efficiency of a Bonus-Malus System [PDF]
ASTIN Bulletin, 1978 AbstractThe concept efficiency of a bonus-mains system was defined, apparently in a totally different way, consecutively by Loimaranta (1972) and Lemaire (1975, 1976). In this paper we start with a more general model that leads us to a definition of efficiency that contains both earlier ones as special cases.
openaire +1 more source
Welfare implications of fair and accountable insurance pricing
Journal of Risk and Insurance, EarlyView.Abstract This paper introduces an empirical framework to evaluate the welfare implications of fair and accountable insurance pricing by modeling the complete pricing process, including demand and price optimization. Moving beyond traditional cost modeling, we analyze both discrimination‐related fairness criteria and broader regulatory constraints, such
Fei Huang, Hajime Shimao
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Selection in car insurance when claims are heterogeneous
Journal of Risk and Insurance, EarlyView.Abstract Econometric studies of insurance markets have analyzed the Positive Correlation Property to test for the presence of asymmetric information. Car‐insurance studies frequently compare policies purchasing Mandatory Third‐Party Liability alone with policies that purchase additional coverage and use the presence of a liability claim as a measure of
Edmund Cannon +2 more
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Modeling and Performance of Bonus-Malus Systems: Stationarity versus Age-Correction
Risks, 2014 In a bonus-malus system in car insurance, the bonus class of a customer is updated from one year to the next as a function of the current class and the number of claims in the year (assumed Poisson).
Søren Asmussen
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Fairness‐aware insurance pricing: A multi‐objective optimization approach
Journal of Risk and Insurance, EarlyView.Abstract Machine‐learning models can provide accurate predictions in insurance pricing, but can also increase disparities between protected groups. Existing fairness‐aware pricing approaches typically target one fairness notion at a time, making it difficult to compare trade‐offs between predictive accuracy, group fairness, individual fairness, and ...
Tim J. Boonen, Xinyue Fan, Zixiao Quan
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