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Optimal design of fixed and variable costs in peer-to-peer insurance with heterogeneous risk

 
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<dc:creator> Boonen, Tim J.</dc:creator>
<dc:creator>Chen, Ze</dc:creator>
<dc:creator>Hu, Wentao</dc:creator>
<dc:creator>International Actuarial Association</dc:creator>
<dc:date>2025-09-15</dc:date>
<dc:description xml:lang="es">Sumario: This paper studies the optimal design of peer-to-peer (P2P) insurance when heterogeneous participants jointly finance a common fund and purchase external insurance for tail risks. The total cost is decomposed into a fixed premium for outside coverage and a variable, potentially refundable deposit used for internal risk sharing. Using a mean-variance objective, the authors derive closed-form optimal sharing rules and characterize their properties, both with and without individual-rationality constraints. The paper also determines the optimal level of the common deposit and provides numerical illustrations. The results offer a rigorous foundation for designing equitable and efficient P2P insurance mechanisms in heterogeneous groups.</dc:description>
<dc:identifier>https://documentacion.fundacionmapfre.org/documentacion/publico/es/bib/189415.do</dc:identifier>
<dc:language>eng</dc:language>
<dc:rights xml:lang="es">InC - http://rightsstatements.org/vocab/InC/1.0/</dc:rights>
<dc:subject xml:lang="es">Mercado de seguros</dc:subject>
<dc:subject xml:lang="es">Peer to peer insurance</dc:subject>
<dc:subject xml:lang="es">Costes</dc:subject>
<dc:subject xml:lang="es">Equidad actuarial</dc:subject>
<dc:subject xml:lang="es">Cálculo actuarial</dc:subject>
<dc:subject xml:lang="es">Modelos matemáticos</dc:subject>
<dc:subject xml:lang="es">Matemática del seguro</dc:subject>
<dc:type xml:lang="es">Artículos y capítulos</dc:type>
<dc:title xml:lang="es">Optimal design of fixed and variable costs in peer-to-peer insurance with heterogeneous risk</dc:title>
<dc:relation xml:lang="es">En: Astin bulletin. - Belgium : ASTIN and AFIR Sections of the International Actuarial Association = ISSN 0515-0361. - 15/09/2025 Volume 55 Issue 3 - September 2025 , p. 721 - 746</dc:relation>
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