zbMATH — the first resource for mathematics

Tariff systems for fleets of vehicles: a study on the portfolio of Fidelidade. (English) Zbl 1394.91214
Summary: In Portugal, insurance policies for fleets of vehicles are, in general, similar to policies for individual vehicles. Such is the case of the insurance company at hand. The experience rating system is practically the same as in individual motor insurance and is applied independently to each vehicle, thus having no effect on the premium paid by other vehicles in the fleet. This experience rating system is inefficient since it ignores the potential fleet-specific risks in the a posteriori tariff. We considered two credibility-based experience rating schemes proposed by D. Desjardins et al. [Astin Bull. 31, No. 1, 85–109 (2001; Zbl 1087.91513)]. One is based on the claims numbers at fleet level and the other is based on the claims numbers at vehicle level. We applied both models in order to calculate experience rating coefficients for the vehicles in the portfolio of fleets of the insurer. We propose different estimators for the structure parameters of the model, which in our opinion handle better the heterogeneity of the time exposures of our data set.

91B30 Risk theory, insurance (MSC2010)
PDF BibTeX Cite
Full Text: DOI
[1] Angers, JF; Desjardins, D; Dionne, G; Guertin, F, Vehicle and fleet random effects in a model of insurance rating for fleets of vehicles, ASTIN Bull, 36, 25-77, (2006) · Zbl 1162.91393
[2] Desjardins, D; Dionne, G; Pinquet, J, Experience rating schemes for fleets of vehicles, ASTIN Bull, 31, 81-105, (2001) · Zbl 1087.91513
[3] Fardilha T (2015) Tariff systems for fleets of vehicles: a study on the portfolio of Fidelidade. ISEG-Lisbon School of Economics and Management, Master thesis, https://www.iseg.ulisboa.pt/aquila/getFile.do?fileId=644862&method=getFile · Zbl 0392.62086
[4] Frees EW (2010) Regression modeling with actuarial and finantial applications. Cambridge University Press, Cambridge · Zbl 1284.62010
[5] Jewell, WS, The use of collateral data in credibility theory: a hierarchical model, Giornale dell’Instituto degli Attuari, 38, 1-16, (1975) · Zbl 0392.62086
[6] McCullagh P, Nelder JA (1989) Generalized linear models, 2nd edn. Chapman & Hall, Boca Raton · Zbl 0744.62098
[7] Pinquet, J; Montserrat, G; Bolancé, C, Allowance for the age of claims in bonus-malus systems, ASTIN Bull, 31, 337-348, (2001) · Zbl 1098.91544
[8] Yan J, Gusjcza J, Flynn M, Wu P (2009) Applications of the offset in property-casualty predictive modelling. Casualty Actuarial Society E-Forum, Winter 366:385 · Zbl 1087.91513
This reference list is based on information provided by the publisher or from digital mathematics libraries. Its items are heuristically matched to zbMATH identifiers and may contain data conversion errors. It attempts to reflect the references listed in the original paper as accurately as possible without claiming the completeness or perfect precision of the matching.