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Bayesian asymmetric logit model for detecting risk factors in motor ratemaking

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Tag12Valor
LDR  00000cab a2200000 4500
001  MAP20140020584
003  MAP
005  20140603174234.0
008  140603e20140505esp|||p |0|||b|spa d
040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
084  ‎$a‎6
24500‎$a‎Bayesian asymmetric logit model for detecting risk factors in motor ratemaking‎$c‎J.M. Pérez Sánchez[et.al]
520  ‎$a‎Modelling automobile insurance claims is a crucial component in the ratemaking procedure. This paper focuses on the probability that a policyholder reports a claim, where the classical logit link does not provide a right model. This is so because databases related with automobile claims are often unbalanced, containing more non-claims than the presence of claims. In this work an asymmetric logit model, which takes into account the large number of non-claims in the portfolio, is considered. Both, logit and asymmetric logit models from a Bayesian point of view, are used to a sample that was collected from a major automobile insurance company in Spain in 2009, resulting in a dataset of 2,000 passenger vehicle. We establish the validity of the asymmetric model in front of the conventional logit link. The use of a garage, the age of the vehicle and the duration of the client's relation with the company are all shown to be significant explanatory variables by the logit model. The asymmetric model includes, in addition, the length of time the policyholder has held a driving licence and the type of use made of the vehicle. The asymmetric model provides a better fit to the data examined.
7730 ‎$w‎MAP20077000420‎$t‎Astin bulletin‎$d‎Belgium : ASTIN and AFIR Sections of the International Actuarial Association‎$x‎0515-0361‎$g‎05/05/2014 Volumen 44 Número 2 - mayo 2014
856  ‎$y‎MÁS INFORMACIÓN‎$u‎mailto:centrodocumentacion@fundacionmapfre.org?subject=Consulta%20de%20una%20publicaci%C3%B3n%20&body=Necesito%20m%C3%A1s%20informaci%C3%B3n%20sobre%20este%20documento%3A%20%0A%0A%5Banote%20aqu%C3%AD%20el%20titulo%20completo%20del%20documento%20del%20que%20desea%20informaci%C3%B3n%20y%20nos%20pondremos%20en%20contacto%20con%20usted%5D%20%0A%0AGracias%20%0A