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Empirical Findings on Motor Insurance Pricing in Germany, Austria and Switzerland

Author

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  • Daniela Laas

    (Institute of Insurance Economics, University of St. Gallen, Tannenstrasse 19, St. Gallen 9000, Switzerland. E-mails: daniela.laas@unisg.ch; hato.schmeiser@unisg.ch)

  • Hato Schmeiser

    (Institute of Insurance Economics, University of St. Gallen, Tannenstrasse 19, St. Gallen 9000, Switzerland. E-mails: daniela.laas@unisg.ch; hato.schmeiser@unisg.ch)

  • Joël Wagner

    (Department of Actuarial Science, University of Lausanne, Quartier UNIL-Dorigny Bâtiment Extranef, Lausanne 1015, Switzerland.)

Abstract

This paper focuses on recent developments in motor insurance pricing in Germany, Austria and Switzerland. Through the analysis of responses to a recent comprehensive survey of industry representatives, we examine the various premium components and the processes involved in premium adaptation. New findings on the use of different tariff criteria, on the tools used for market-based and customer-specific pricing, and on the information considered for customer valuation are reported. We also address the integration of the insurance sales staff in the pricing process. With regard to premium adjustments and the introduction of new tariffs, we examine the frequency, time required and costs incurred. With this paper, we contribute to a strand of literature where little academic research has been done so far. In addition, our results entail managerial implications for improving industry practices in insurance pricing.

Suggested Citation

  • Daniela Laas & Hato Schmeiser & Joël Wagner, 2016. "Empirical Findings on Motor Insurance Pricing in Germany, Austria and Switzerland," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 41(3), pages 398-431, July.
    • Handle: RePEc:pal:gpprii:v:41:y:2016:i:3:p:398-431
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    Cited by:

    1. Bhatt, Om Prakash, 2023. "Roles and Scenario of Partly Qualified Actuaries in Insurance Companies of Nepal," OSF Preprints ue2xv, Center for Open Science.
    2. David A. Cather, 2020. "Reconsidering insurance discrimination and adverse selection in an era of data analytics," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 45(3), pages 426-456, July.
    3. Yves Staudt & Joël Wagner, 2021. "Assessing the Performance of Random Forests for Modeling Claim Severity in Collision Car Insurance," Risks, MDPI, vol. 9(3), pages 1-28, March.
    4. Catalina Bolancé & Montserrat Guillen & Jens Perch Nielsen & Fredrik Thuring, 2018. "Price and Profit Optimization for Financial Services," Risks, MDPI, vol. 6(1), pages 1-12, February.

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