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La Soif du Bonus

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  • Lemaire, Jean

Abstract

In motorcar insurance is widely used a merit rating system characterized by the fact that only the number of claims occurred (and not their amount) modifies the premium. This system induces the insured drivers to support themselves the cost of the cheap claims. We analyze this “hunger for bonus” and solve this decision problem by means of an algorithm related to dynamic programming. The method is then applied to the Belgian bonus system.

Suggested Citation

  • Lemaire, Jean, 1977. "La Soif du Bonus," ASTIN Bulletin, Cambridge University Press, vol. 9(1-2), pages 181-190, January.
    • Handle: RePEc:cup:astinb:v:9:y:1977:i:1-2:p:181-190_01
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    Cited by:

    1. Park, Sojung C. & Kim, Joseph H.T. & Ahn, Jae Youn, 2018. "Does hunger for bonuses drive the dependence between claim frequency and severity?," Insurance: Mathematics and Economics, Elsevier, vol. 83(C), pages 32-46.
    2. Arthur Charpentier & Arthur David & Romuald Elie, 2017. "Optimal Claiming Strategies in Bonus Malus Systems and Implied Markov Chains," Risks, MDPI, vol. 5(4), pages 1-17, November.
    3. J. Pinquet & M. Guillén & C. Bolancé, 2000. "Long-range contagion in automobile insurance data : estimation and implications for experience rating," THEMA Working Papers 2000-43, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    4. Jean‐Philippe Boucher & Michel Denuit & Montserrat Guillen, 2009. "Number of Accidents or Number of Claims? An Approach with Zero‐Inflated Poisson Models for Panel Data," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 76(4), pages 821-846, December.
    5. Arthur Charpentier & Arthur David & Romuald Elie, 2016. "Optimal Claiming Strategies in Bonus Malus Systems and Implied Markov Chains," Working Papers hal-01326798, HAL.
    6. Boucher, Jean-Philippe & Denuit, Michel, 2008. "Credibility premiums for the zero-inflated Poisson model and new hunger for bonus interpretation," Insurance: Mathematics and Economics, Elsevier, vol. 42(2), pages 727-735, April.
    7. Zhao, Xiaobing & Zhou, Xian, 2012. "Copula models for insurance claim numbers with excess zeros and time-dependence," Insurance: Mathematics and Economics, Elsevier, vol. 50(1), pages 191-199.
    8. Adisak Moumeesri & Tippatai Pongsart, 2022. "Bonus-Malus Premiums Based on Claim Frequency and the Size of Claims," Risks, MDPI, vol. 10(9), pages 1-22, September.

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