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Economic Indicators for automobile claim frequencies

Author

Listed:
  • Eva Boj
  • M. Mercè Claramunt
  • Anna Castañer
  • Teresa Costa
  • Oriol Roch

Abstract

This article examines the relationship between observed claim frequencies in the automobile insurance line and the evolution of selected economic magnitudes. From a variety of economic variables, we aim to identify the main factors affecting claim frequencies, while controlling for other legislative and demographic factors. Through a dynamic regression model, the analysis is conducted for three different categories of vehicles and for a variety of coverages. A comprehensive dataset from the main Spanish insurance companies is used to calibrate the model. The evidence might assist companies to improve ratemaking.

Suggested Citation

  • Eva Boj & M. Mercè Claramunt & Anna Castañer & Teresa Costa & Oriol Roch, 2019. "Economic Indicators for automobile claim frequencies," Estudios de Economia, University of Chile, Department of Economics, vol. 46(2), pages 245-271, December.
    • Handle: RePEc:udc:esteco:v:46:y:2019:i:1:p:245-271
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    File URL: https://estudiosdeeconomia.uchile.cl/index.php/EDE/article/view/55275/58219
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    More about this item

    Keywords

    Categories of vehicles; dynamic regression; external predictors; motor insurance; time series;
    All these keywords.

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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