Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | 안재윤 | - |
dc.date.accessioned | 2020-05-25T16:30:09Z | - |
dc.date.available | 2020-05-25T16:30:09Z | - |
dc.date.issued | 2020 | - |
dc.identifier.issn | 0167-6687 | - |
dc.identifier.issn | 1873-5959 | - |
dc.identifier.other | OAK-26961 | - |
dc.identifier.uri | https://dspace.ewha.ac.kr/handle/2015.oak/253915 | - |
dc.description.abstract | The bonus-malus system (BMS) is a widely used premium adjustment mechanism based on policyholder's claim history. Most auto insurance BMSs assume that policyholders in the same bonus-malus (BM) level share the same a posteriori risk adjustment. This system reflects the policyholder's claim history in a relatively simple manner. However, the typical system follows a single BM scale and is known to suffer from the double-counting problem: policyholders in the high-risk classes in terms of a priori characteristics are penalized too severely (Taylor, 1997; Pitrebois et al., 2003). Thus, Pitrebois et al. (2003) proposed a new system with multiple BM scales based on the a priori characteristics. While this multiple-scale BMS removes the double-counting problem, it loses the prime benefit of simplicity. Alternatively, we argue that the double-counting problem can be viewed as an inefficiency of the optimization process. Furthermore, we show that the double-counting problem can be resolved by fully optimizing the BMS setting, but retaining the traditional BMS format. (C) 2020 Elsevier B.V. All rights reserved. | - |
dc.language | English | - |
dc.publisher | ELSEVIER | - |
dc.subject | Bonus-malus system | - |
dc.subject | Ratemaking | - |
dc.subject | Double counting | - |
dc.subject | Optimization | - |
dc.subject | Auto insurance | - |
dc.title | Double-counting problem of the bonus-malus system | - |
dc.type | Article | - |
dc.relation.volume | 93 | - |
dc.relation.index | SCIE | - |
dc.relation.index | SSCI | - |
dc.relation.index | SCOPUS | - |
dc.relation.startpage | 141 | - |
dc.relation.lastpage | 155 | - |
dc.relation.journaltitle | INSURANCE MATHEMATICS & ECONOMICS | - |
dc.identifier.doi | 10.1016/j.insmatheco.2020.04.008 | - |
dc.identifier.wosid | WOS:000549362800010 | - |
dc.identifier.scopusid | 2-s2.0-85084671729 | - |
dc.author.google | Oh, Rosy | - |
dc.author.google | Lee, Kyung Suk | - |
dc.author.google | Park, Sojung C. | - |
dc.author.google | Ahn, Jae Youn | - |
dc.contributor.scopusid | 안재윤(36472886700;57329191200) | - |
dc.date.modifydate | 20230901081001 | - |