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The Equilibrium on the Motor Insurance Market in Selected CEE Countries

In: Economic Development and Financial Markets

Author

Listed:
  • Adam Śliwiński

    (Warsaw School of Economics)

  • Łukasz Kuryłowicz

    (Warta Insurance & Reinsurance Company)

Abstract

This chapter shows the possibility of introducing the usage-based insurance (UBI) for the sake of the individualisation of compulsory motor Third-Party liability insurance premiums with the aim of achieving the stability in Central and Eastern European markets and bringing them closer to the state of equilibrium. The chapter presents both the historical perspective of UBI development and the summary of the research carried out over the last decade. It is concerned with the advancement of UBI tariffs and the successful modification of the applicable pricing schemes as well as points to issues that may hinder the market launch of UBI. Finally, it shows that thanks to the usage-based insurance, the industry can minimise the negative effect information asymmetry has on the motor insurance market.

Suggested Citation

  • Adam Śliwiński & Łukasz Kuryłowicz, 2020. "The Equilibrium on the Motor Insurance Market in Selected CEE Countries," Contributions to Economics, in: Adam Śliwiński & Persefoni Polychronidou & Anastasios Karasavvoglou (ed.), Economic Development and Financial Markets, pages 143-164, Springer.
    • Handle: RePEc:spr:conchp:978-3-030-32426-1_9
    DOI: 10.1007/978-3-030-32426-1_9
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