Jean Lemaire

(Author)

Bonus-Malus Systems in Automobile Insurance (1995)Hardcover - 1995, 30 April 1995

Bonus-Malus Systems in Automobile Insurance (1995)
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Part of Series
Huebner International Risk, Insurance and Economic Security
Part of Series
Cancer Biology and Medicine
Part of Series
Huebner International Series on Risk, Insurance and Economic
Print Length
285 pages
Language
English
Publisher
Springer
Date Published
30 Apr 1995
ISBN-10
079239545X
ISBN-13
9780792395454

Description

Most insurers around the world have introduced some form of merit-rating in automobile third party liability insurance. Such systems, penalizing at-fault accidents by premium surcharges and rewarding claim-free years by discounts, are called bonus-malus systems (BMS) in Europe and Asia. With the current deregulation trends that concern most insurance markets around the world, many companies will need to develop their own BMS. The main objective of the book is to provide them models to design BMS that meet their objectives.
Part I of the book contains an overall presentation of the pros and cons of merit-rating, a case study and a review of the different probability distributions that can be used to model the number of claims in an automobile portfolio. In Part II, 30 systems from 22 different countries, are evaluated and ranked according to their `toughness' towards policyholders. Four tools are created to evaluate that toughness and provide a tentative classification of all systems. Then, factor analysis is used to aggregate and summarize the data, and provide a final ranking of all systems. Part III is an up-to-date review of all the probability models that have been proposed for the design of an optimal BMS. The application of these models would enable the reader to devise the system that is ideally suited to the behavior of the policyholders of his own insurance company. Finally, Part IV analyses an alternative to BMS; the introduction of a policy with a deductible.

Product Details

Author:
Jean Lemaire
Book Edition:
1995
Book Format:
Hardcover
Country of Origin:
US
Date Published:
30 April 1995
Dimensions:
24.38 x 16.87 x 2.34 cm
ISBN-10:
079239545X
ISBN-13:
9780792395454
Language:
English
Location:
Dordrecht
Pages:
285
Publisher:
Weight:
639.56 gm

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