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Generalized Bonus-Malus Systems with a Frequency and a Severity Component on an Individual Basis in Automobile Insurance

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  • Mahmoudvand, Rahim
  • Hassani, Hossein

Abstract

Frangos and Vrontos (2001) proposed an optimal bonus-malus systems with a frequency and a severity component on an individual basis in automobile insurance. In this paper, we introduce a generalized form of those obtained previously.

Suggested Citation

  • Mahmoudvand, Rahim & Hassani, Hossein, 2009. "Generalized Bonus-Malus Systems with a Frequency and a Severity Component on an Individual Basis in Automobile Insurance," ASTIN Bulletin, Cambridge University Press, vol. 39(1), pages 307-315, May.
    • Handle: RePEc:cup:astinb:v:39:y:2009:i:01:p:307-315_00
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    Citations

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    Cited by:

    1. Zuleyka Díaz Martínez & José Fernández Menéndez & Luis Javier García Villalba, 2023. "Tariff Analysis in Automobile Insurance: Is It Time to Switch from Generalized Linear Models to Generalized Additive Models?," Mathematics, MDPI, vol. 11(18), pages 1-16, September.
    2. Søren Asmussen, 2014. "Modeling and Performance of Bonus-Malus Systems: Stationarity versus Age-Correction," Risks, MDPI, vol. 2(1), pages 1-25, March.
    3. Tzougas, George, 2020. "EM estimation for the Poisson-Inverse Gamma regression model with varying dispersion: an application to insurance ratemaking," LSE Research Online Documents on Economics 106539, London School of Economics and Political Science, LSE Library.
    4. Safoora Zarei & Ali R. Fallahi, 2019. "Pay-As-You-Drive Insurance Pricing Model," Papers 1912.09273, arXiv.org.
    5. Tzougas, George & Yik, Woo Hee & Mustaqeem, Muhammad Waqar, 2019. "Insurance ratemaking using the Exponential-Lognormal regression model," LSE Research Online Documents on Economics 101729, London School of Economics and Political Science, LSE Library.
    6. Tan, Chong It & Li, Jackie & Li, Johnny Siu-Hang & Balasooriya, Uditha, 2015. "Optimal relativities and transition rules of a bonus–malus system," Insurance: Mathematics and Economics, Elsevier, vol. 61(C), pages 255-263.
    7. George Tzougas, 2020. "EM Estimation for the Poisson-Inverse Gamma Regression Model with Varying Dispersion: An Application to Insurance Ratemaking," Risks, MDPI, vol. 8(3), pages 1-23, September.
    8. Olena Ragulina, 2017. "Bonus--malus systems with different claim types and varying deductibles," Papers 1707.00917, arXiv.org.
    9. Verschuren, Robert Matthijs, 2022. "Frequency-severity experience rating based on latent Markovian risk profiles," Insurance: Mathematics and Economics, Elsevier, vol. 107(C), pages 379-392.
    10. Tzougas, George & Vrontos, Spyridon & Frangos, Nicholas, 2014. "Optimal Bonus-Malus Systems using finite mixture models," LSE Research Online Documents on Economics 70919, London School of Economics and Political Science, LSE Library.
    11. Mahmoudvand Rahim & Tan Chong It & Abbasi Narges, 2017. "Adjusting the Premium Relativities in a Bonus-Malus System: An Integrated Approach Using the First Claim Time and the Number of Claims," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 11(2), pages 1-19, July.

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