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Description
  • Very important task of the actuary is to create a fair tariff structure. This structure has to fairly divide the burden of claims among policyholders. The subject of this paper is bonus-malus system in vehicle insurance. This system penalizes drivers responsible for accidents and rewards the drivers for claim-free years. First the long term behavior of BM system is examined. A stationary distribution of the drivers is calculated based on Markov chains. Then the relative premium associated with each level of BM system is calculated. For this purposes, quadratic loss function and Bayesian approach are used. Finally, we compare the calculated relative premium to the relative premium from Czech Insurance Company.
  • Very important task of the actuary is to create a fair tariff structure. This structure has to fairly divide the burden of claims among policyholders. The subject of this paper is bonus-malus system in vehicle insurance. This system penalizes drivers responsible for accidents and rewards the drivers for claim-free years. First the long term behavior of BM system is examined. A stationary distribution of the drivers is calculated based on Markov chains. Then the relative premium associated with each level of BM system is calculated. For this purposes, quadratic loss function and Bayesian approach are used. Finally, we compare the calculated relative premium to the relative premium from Czech Insurance Company. (en)
Title
  • Relative premium in vehicle insurance
  • Relative premium in vehicle insurance (en)
skos:prefLabel
  • Relative premium in vehicle insurance
  • Relative premium in vehicle insurance (en)
skos:notation
  • RIV/00216224:14560/14:00077209!RIV15-MSM-14560___
http://linked.open...avai/riv/aktivita
http://linked.open...avai/riv/aktivity
  • I
http://linked.open...vai/riv/dodaniDat
http://linked.open...aciTvurceVysledku
http://linked.open.../riv/druhVysledku
http://linked.open...iv/duvernostUdaju
http://linked.open...titaPredkladatele
http://linked.open...dnocenehoVysledku
  • 42068
http://linked.open...ai/riv/idVysledku
  • RIV/00216224:14560/14:00077209
http://linked.open...riv/jazykVysledku
http://linked.open.../riv/klicovaSlova
  • Markov chain; premium; bonus-malus system (en)
http://linked.open.../riv/klicoveSlovo
http://linked.open...ontrolniKodProRIV
  • [5D184AA2DA3C]
http://linked.open...v/mistoKonaniAkce
  • Lednice, Czech Republic
http://linked.open...i/riv/mistoVydani
  • Brno
http://linked.open...i/riv/nazevZdroje
  • European financial systems 2014. Proceedings of the 11th international scientific conference
http://linked.open...in/vavai/riv/obor
http://linked.open...ichTvurcuVysledku
http://linked.open...cetTvurcuVysledku
http://linked.open...UplatneniVysledku
http://linked.open...iv/tvurceVysledku
  • Kafková, Silvie
http://linked.open...vavai/riv/typAkce
http://linked.open...ain/vavai/riv/wos
  • 000350701500039
http://linked.open.../riv/zahajeniAkce
number of pages
http://purl.org/ne...btex#hasPublisher
  • Masarykova univerzita
https://schema.org/isbn
  • 9788021071537
http://localhost/t...ganizacniJednotka
  • 14560
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