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An Integrated System for Estimating the Risk Premium of Individual Car Models in Motor Insurance

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  • Campbell, Malcolm

Abstract

The estimation of risk premium for individual car models is discussed. Cluster analysis is used to identify groups of car models with similar technical attributes. Credibility theory is used to combine estimates of risk premium from individual car model claim statistics, group claim statistics, and a technical assessment carried out by car experts. The procedure is applied to a small set of car models.

Suggested Citation

  • Campbell, Malcolm, 1986. "An Integrated System for Estimating the Risk Premium of Individual Car Models in Motor Insurance," ASTIN Bulletin, Cambridge University Press, vol. 16(2), pages 165-183, November.
    • Handle: RePEc:cup:astinb:v:16:y:1986:i:02:p:165-183_00
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    Cited by:

    1. Alonso, Pablo J., 2011. "Profile identification via weighted related metric scaling : an application to dependent Spanish children," DES - Working Papers. Statistics and Econometrics. WS ws113628, Universidad Carlos III de Madrid. Departamento de Estadística.
    2. Jamotton, Charlotte & Hainaut, Donatien, 2024. "Latent Dirichlet Allocation for structured insurance data," LIDAM Discussion Papers ISBA 2024008, Université catholique de Louvain, Institute of Statistics, Biostatistics and Actuarial Sciences (ISBA).
    3. Ramon Alemany & Catalina Bolance & Montserrat Guillen, 2014. "Accounting for severity of risk when pricing insurance products," Working Papers 2014-05, Universitat de Barcelona, UB Riskcenter.
    4. Darren Shannon & Tim Jannusch & Florian David‐Spickermann & Martin Mullins & Martin Cunneen & Finbarr Murphy, 2021. "Connected and autonomous vehicle injury loss events: Potential risk and actuarial considerations for primary insurers," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 24(1), pages 5-35, March.

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