Hostname: page-component-cd9895bd7-8ctnn Total loading time: 0 Render date: 2024-12-26T13:52:56.407Z Has data issue: false hasContentIssue false
  • English
  • Français

A Comparative Analysis of 30 Bonus-Malus Systems

Published online by Cambridge University Press:  29 August 2014

Jean Lemaire  and
Hongmin Zi
Jean Lemaire*
Affiliation:
Wharton School, University of Pennsylvania
Hongmin Zi*
Affiliation:
Wharton School, University of Pennsylvania
*
Department of Insurance and Risk Management, Wharton School, University of Pennsylvania, 3641 Locust Walk, Philadelphia, PA 19104-6218, U.S.A.
Department of Insurance and Risk Management, Wharton School, University of Pennsylvania, 3641 Locust Walk, Philadelphia, PA 19104-6218, U.S.A.
Rights & Permissions [Opens in a new window]

Abstract

Core share and HTML view are not available for this content. However, as you have access to this content, a full PDF is available via the ‘Save PDF’ action button.

The automobile third party insurance merit-rating systems of 22 countries are simulated and compared, using as main tools the stationary average premium level, the variability of the policyholders' payments, their elasticity with respect to the claim frequency, and the magnitude of the hunger for bonus. Principal components analysis is used to define an “Index of Toughness” for all systems.

Type
Workshop
Information
ASTIN Bulletin: The Journal of the IAA , Volume 24 , Issue 2 , November 1994 , pp. 287 - 309
Copyright
Copyright © International Actuarial Association 1994

References

Bowers, N., Hickman, J., Gerber, E., Jones, D. and Nesbitt, C. (1986) “Actuarial Mathematics”. Society of Actuaries, Schaumburg, Illinois.Google Scholar
Lemaire, J. (1985) “Automobile Insurance: Actuarial Models”. Kluwer, Boston.CrossRefGoogle Scholar
Lemaire, J. (1988a) “A comparative Analysis of most European and Japanese Bonus-malus systems”. J. of Risk and Insurance LV, 660–681.Google Scholar
Lemaire, J. (1988b) “Construction of the New Belgian Motor Third Party Tariff Structure”. ASTIN Bulletin 18, 99–112.CrossRefGoogle Scholar
Lemaire, J. (1993) “Selecting a Fitting Distribution for Taiwanese Automobile Losses”. Unpublished manuscript.Google Scholar
Loimaranta, K. (1972) “Some Asymptotic Properties of Bonus Systems”. ASTIN Bulletin 6, 233–245.CrossRefGoogle Scholar
Neuhaus, W. (1988) “A bonus-malus system in automobile insurance”. Insurance: Mathematics & Economics 7, 103–112.Google Scholar