Use and Extension of Count Data Models in the Determination of Relevant Factors for Claims in the Automobile Insurance Sector
AbstractUsing real, Spanish data, different specifications of zero-inflated models are provided in this paper to estimate the number of accidents declared by policyholders. These count data models seem to be the most appropriate solutions to study this question. Our work is completed with the estimations of the number of clients that do not declare their actual accidents and the number of these accidents. The analysis of all these factors could become useful for insurers to improve their efficiency. We conclude with a final theoretical discussion on the possible advantages given by other alternative models, like the so-called thinned models.
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Bibliographic InfoArticle provided by European Research Studies Journal in its journal European Research Studies Journal.
Volume (Year): XIII (2010)
Issue (Month): 4 ()
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Accident; zero-inflated model; ‘extra-zeros’ estimation;
Find related papers by JEL classification:
- C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies
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