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Personal non-life insurance decisions and the welfare loss from flat deductibles

Recurso electrónico / Electronic resource
MARC record
Tag12Value
LDR  00000cab a2200000 4500
001  MAP20190019118
003  MAP
005  20190625124239.0
008  190619e20190101gbr|||p |0|||b|eng d
040  ‎$a‎MAP‎$b‎spa‎$d‎MAP
084  ‎$a‎6
1001 ‎$0‎MAPA20080650230‎$a‎Steffensen, Mogens
24500‎$a‎Personal non-life insurance decisions and the welfare loss from flat deductibles‎$c‎Mogens Steffensen, Julie Thogersen
300  ‎$a‎32 p.
520  ‎$a‎We view the retail non-life insurance decision from the perspective of the insured. We formalize different consumption insurance problems depending on the flexibility of the insurance contract. For exponential utility and power utility we find the optimal flexible insurance decision or insurance contract. For exponential utility we also find the optimal position in standard contracts that are less flexible and therefore, for certain nonlinear pricing rules, lead to a welfare loss for the individual insuree compared to the optimal flexible insurance decision. For the exponential loss distribution, we quantify a signifcant welfare loss. This calls for product development in the retail insurance business.
650 4‎$0‎MAPA20080602437‎$a‎Matemática del seguro
650 4‎$0‎MAPA20080573935‎$a‎Seguros no vida
650 4‎$0‎MAPA20080600358‎$a‎Comercio al por menor
650 4‎$0‎MAPA20080579203‎$a‎Bienes de consumo
7001 ‎$0‎MAPA20190008136‎$a‎Thogersen, Julie
7730 ‎$w‎MAP20077000420‎$t‎Astin bulletin‎$d‎Belgium : ASTIN and AFIR Sections of the International Actuarial Association‎$x‎0515-0361‎$g‎01/01/2019 Volumen 49 Número 1 - enero 2019 , p. 85-116