Hostname: page-component-84b7d79bbc-7nlkj Total loading time: 0 Render date: 2024-07-30T21:38:18.828Z Has data issue: false hasContentIssue false

Generalized Bonus-Malus Systems with a Frequency and a Severity Component on an Individual Basis in Automobile Insurance*

Published online by Cambridge University Press:  09 August 2013

Rahim Mahmoudvand
Affiliation:
Statistical Research and Training Center (SRTC), Tehran, Iran and Group of Statistics, Payame Noor University of Toyserkan, Toyserkan, Iran
Hossein Hassani
Affiliation:
Statistical Research and Training Center (SRTC), Tehran, Iran and Centre for Optimisation and Its Applications, School of Mathematics, Cardiff University, CF24 4AG, UK, E-mail: HassaniH@cf.ac.uk

Abstract

Frangos and Vrontos (2001) proposed an optimal bonus-malus systems with a frequency and a severity component on an individual basis in automobile insurance. In this paper, we introduce a generalized form of those obtained previously.

Type
Research Article
Copyright
Copyright © International Actuarial Association 2009

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Footnotes

*

This research was in part supported by a grant (No. 8716) from Statistical Research and Training Center, Iran.

References

Dionne, G. and Vanasse, C. (1989) A generalization of actuarial automobile insurance rating models: the negative binomial distribution with a regression component, Astin Bulletin 19, 199212.CrossRefGoogle Scholar
Dionne, G. and Vanasse, C. (1992) Automobile insurance ratemaking in the presence of asymmetrical information, Journal of Applied Econometrics 7, 149165.CrossRefGoogle Scholar
Frangos, N.E. and Vrontos, S.D. (2001) Design of optimal bonus-malus systems with a frequency and a severity component on an individual basis in automobile insurance, Astin Bulletin 33, 122.Google Scholar