Tariff systems for fleets of vehicles: a study on the portfolio of Fidelidade
Autor(a) principal: | |
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Data de Publicação: | 2016 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/24427 |
Resumo: | In Portugal, insurance policies for fleets of vehicles are, in general, similar to policies for individual vehicles. Such is the case of the insurance company at hand. The experience rating system is practically the same as in individual motor insurance and is applied independently to each vehicle, thus having no effect on the premium paid by other vehicles in the fleet. This experience rating system is inefficient since it ignores the potential fleet-specific risks in the a posteriori tariff. We considered two credibility-based experience rating schemes proposed by Desjardins, Dionne and Pinquet in 2001. One is based on the claims numbers at fleet level and the other is based on the claims numbers at vehicle level. We applied both models in order to calculate experience rating coefficients for the vehicles in the portfolio of fleets of the insurer. We propose different estimators for the structure parameters of the model, which in our opinion handle better the heterogeneity of the time exposures of our data set. Keywords. |
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Tariff systems for fleets of vehicles: a study on the portfolio of FidelidadeMotor InsuranceFleetsExperience RatingBonus–MalusCredibilityPortugalIn Portugal, insurance policies for fleets of vehicles are, in general, similar to policies for individual vehicles. Such is the case of the insurance company at hand. The experience rating system is practically the same as in individual motor insurance and is applied independently to each vehicle, thus having no effect on the premium paid by other vehicles in the fleet. This experience rating system is inefficient since it ignores the potential fleet-specific risks in the a posteriori tariff. We considered two credibility-based experience rating schemes proposed by Desjardins, Dionne and Pinquet in 2001. One is based on the claims numbers at fleet level and the other is based on the claims numbers at vehicle level. We applied both models in order to calculate experience rating coefficients for the vehicles in the portfolio of fleets of the insurer. We propose different estimators for the structure parameters of the model, which in our opinion handle better the heterogeneity of the time exposures of our data set. Keywords.SpringerRepositório da Universidade de LisboaCenteno, M. de LourdesFardilha, TiagoEsteves, Rui2022-05-31T07:56:38Z20162016-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/24427engFardilha, Tiago, Maria de Lourdes Centeno, and Rui Esteves. (2016). "Tariff systems for fleets of vehicles: a study on the portfolio of Fidelidade". European Actuarial Journal Vol. 6: pp. 331-349.info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:54:05Zoai:www.repository.utl.pt:10400.5/24427Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:08:28.675252Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Tariff systems for fleets of vehicles: a study on the portfolio of Fidelidade |
title |
Tariff systems for fleets of vehicles: a study on the portfolio of Fidelidade |
spellingShingle |
Tariff systems for fleets of vehicles: a study on the portfolio of Fidelidade Centeno, M. de Lourdes Motor Insurance Fleets Experience Rating Bonus–Malus Credibility Portugal |
title_short |
Tariff systems for fleets of vehicles: a study on the portfolio of Fidelidade |
title_full |
Tariff systems for fleets of vehicles: a study on the portfolio of Fidelidade |
title_fullStr |
Tariff systems for fleets of vehicles: a study on the portfolio of Fidelidade |
title_full_unstemmed |
Tariff systems for fleets of vehicles: a study on the portfolio of Fidelidade |
title_sort |
Tariff systems for fleets of vehicles: a study on the portfolio of Fidelidade |
author |
Centeno, M. de Lourdes |
author_facet |
Centeno, M. de Lourdes Fardilha, Tiago Esteves, Rui |
author_role |
author |
author2 |
Fardilha, Tiago Esteves, Rui |
author2_role |
author author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Centeno, M. de Lourdes Fardilha, Tiago Esteves, Rui |
dc.subject.por.fl_str_mv |
Motor Insurance Fleets Experience Rating Bonus–Malus Credibility Portugal |
topic |
Motor Insurance Fleets Experience Rating Bonus–Malus Credibility Portugal |
description |
In Portugal, insurance policies for fleets of vehicles are, in general, similar to policies for individual vehicles. Such is the case of the insurance company at hand. The experience rating system is practically the same as in individual motor insurance and is applied independently to each vehicle, thus having no effect on the premium paid by other vehicles in the fleet. This experience rating system is inefficient since it ignores the potential fleet-specific risks in the a posteriori tariff. We considered two credibility-based experience rating schemes proposed by Desjardins, Dionne and Pinquet in 2001. One is based on the claims numbers at fleet level and the other is based on the claims numbers at vehicle level. We applied both models in order to calculate experience rating coefficients for the vehicles in the portfolio of fleets of the insurer. We propose different estimators for the structure parameters of the model, which in our opinion handle better the heterogeneity of the time exposures of our data set. Keywords. |
publishDate |
2016 |
dc.date.none.fl_str_mv |
2016 2016-01-01T00:00:00Z 2022-05-31T07:56:38Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.5/24427 |
url |
http://hdl.handle.net/10400.5/24427 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Fardilha, Tiago, Maria de Lourdes Centeno, and Rui Esteves. (2016). "Tariff systems for fleets of vehicles: a study on the portfolio of Fidelidade". European Actuarial Journal Vol. 6: pp. 331-349. |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Springer |
publisher.none.fl_str_mv |
Springer |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799131178609934336 |