Ratemaking in a changing environment (Q6569740)
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scientific article; zbMATH DE number 7878775
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| English | Ratemaking in a changing environment |
scientific article; zbMATH DE number 7878775 |
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Ratemaking in a changing environment (English)
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9 July 2024
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The author presents an intuitive ratemaking model for pricing insurance contracts based on the individual policyholder's aggregate losses for non-life insurers. The model uses a marked Poisson process framework, which ensures that the multivariate risk analysis is done more routinely using all reported claims and makes an adjustment for incurred but not reported (IBNR) claims. \N\NUtilizing data from the Wisconsin Local Government Property Insurance Fund, the author finds that by determining rates based on current data, the proposed ratemaking model leads to better alignment of premiums and provides insurers with a more financially sound portfolio.
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insurance pricing
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environmental changes
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marked poission process
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IBNR and RBNS reserve
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