Data from University of Las Palmas de Gran Canaria Update Knowledge in Insurance Companies (A Survey of the Individual Claim Size and Other Risk Factors Using Credibility Bonus-Malus Premiums)

2020 MAR 18 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Investigators publish new report on . According to news originating from Las Palmas de Gran Canaria, Spain, by NewsRx correspondents, research stated, “In this paper, a flexible count regression model based on a bivariate compound Poisson distribution is introduced in order to distinguish between different types of claims according to the claim size.”

Our news reporters obtained a quote from the research from University of Las Palmas de Gran Canaria: “Furthermore, it allows us to analyse the factors that affect the number of claims above and below a given claim size threshold in an automobile insurance portfolio. Relevant properties of this model are given. Next, a mixed regression model is derived to compute credibility bonus-malus premiums based on the individual claim size and other risk factors such as gender, type of vehicle, driving area, or age of the vehicle.”

According to the news editors, the research concluded: “Results are illustrated by using a well-known automobile insurance portfolio dataset.”

For more information on this research see: A Survey of the Individual Claim Size and Other Risk Factors Using Credibility Bonus-Malus Premiums. Risks, 2020,8(1):20. (Risks - http://www.mdpi.com/journal/risks). The publisher for Risks is MDPI AG.

A free version of this journal article is available at https://doi.org/10.3390/risks8010020.

Our news journalists report that more information may be obtained by contacting Emilio Gomez-Deniz, Department of Quantitative Methods and TIDES Institute, University of Las Palmas de Gran Canaria, 35017 Las Palmas de Gran Canaria, Spain. Additional authors for this research include Enrique Calderin-Ojeda.

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