scholarly journals Insurance premium model for case delay or cancelation of Indonesian local flight

2019 ◽  
Author(s):  
Dina Stefani ◽  
Samuel Lukas ◽  
Stevanus Adiwena ◽  
Helena Margaretha ◽  
Petrus Widjaja
Keyword(s):  
Insurance Premium ◽  
Premium Model

scholarly journals Bayesian credibility premium with GB2 copulas

2020 ◽  
Vol 8 (1) ◽  
pp. 157-171 ◽  
Author(s):  
Himchan Jeong ◽  
Emiliano A. Valdez
Keyword(s):  
Probability Measure ◽  
Explicit Form ◽  
Insurance Premium ◽  
Response Variable ◽  
Generalized Pareto ◽  
Special Case ◽  
Change Of Probability Measure

AbstractFor observations over a period of time, Bayesian credibility premium may be used to predict the value of a response variable for a subject, given previously observed values. In this article, we formulate Bayesian credibility premium under a change of probability measure within the copula framework. Such reformulation is demonstrated using the multivariate generalized beta of the second kind (GB2) distribution. Within this family of GB2 copulas, we are able to derive explicit form of Bayesian credibility premium. Numerical illustrations show the application of these estimators in determining experience-rated insurance premium. We consider generalized Pareto as a special case.

An Evaluation of the New Japanese Bonus–Malus System with No-claim and Claimed Subclasses

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
Mahito Okura ◽  
Takuya Yoshizawa ◽  
Motohiro Sakaki
Keyword(s):  
Simulation Analysis ◽  
Insurance Premium ◽  
Automobile Insurance ◽  
Insurance Claims ◽  
Present Value ◽  
Time Discount

AbstractThe purpose of this research is to evaluate the new Japanese Bonus–Malus System (BMS 2012) in automobile insurance, which is an unusual system wherein both no-claim and claimed subclasses exist. To evaluate BMS 2012, we conduct a simulation analysis and compare BMS 2012 with the former Japanese BMS (BMS 2009) in terms of the present value of the total insurance premium that is closely related to the frequency of insurance claims. Based on the comparison, our main conclusion is that BMS 2012 offers more effects to lower the frequency of insurance claims than BMS 2009 does when the policyholders’ classes in BMS are high classes that evaluate as safety drivers, time discount and/or renewal rates are relatively low, and the policyholders’ risk averseness is large.

How do Optimistic Individuals Affect Insurance Advertisements?

2020 ◽  
Vol 14 (2) ◽  
Author(s):  
Yoichiro Fujii ◽  
Michiko Ogaku ◽  
Mahito Okura ◽  
Yusuke Osaki
Keyword(s):  
Maximum Level ◽  
Optimal Level ◽  
Insurance Premium ◽  
Free Rider ◽  
Free Rider Problem ◽  
Accident Probability ◽  
Insurance Firms ◽  
The Difference ◽  
Accident Probabilities ◽  
Equilibrium Number

AbstractSome people have optimistic expectations regarding their accident probability, and thus, refrain from purchasing adequate insurance. This study investigates how insurance firms use advertisements to lower the ratio of optimistic individuals in the market. The main results are as follows: first, the optimal level of advertisements is maximized when the insurance premium is moderate. Second, the maximum level of advertisement varies according to the degree of optimism, which is measured by the difference between accurate and optimistic accident probabilities. Third, the advertisement decision is affected by the free-rider problem, and the equilibrium number of insurance firms with advertisement is always larger than that of firms without advertisement in a competitive insurance market.

scholarly journals Systemic risk measurement: bucketing global systemically important banks

2021 ◽  
Author(s):  
Marina Brogi ◽  
Valentina Lagasio ◽  
Luca Riccetti
Keyword(s):  
Systemic Risk ◽  
Financial System ◽  
Capital Requirements ◽  
Insurance Premium ◽  
Risk Measurement ◽  
Marginal Contribution ◽  
General Consensus ◽  
Systemically Important Banks

AbstractThe general consensus on the need to enhance the resilience of the financial system has led to the imposition of higher capital requirements for certain institutions, supposedly based on their contribution to systemic risk. Global Systemically Important Banks (G-SIBs) are divided into buckets based on their required additional capital buffers ranging from 1% to 3.5%. We measure the marginal contribution to systemic risk of 26 G-SIBs using the Distressed Insurance Premium methodology proposed by Huang et al. (J Bank Financ 33:2036–2049, 2009) and examine ranking consistency with that using the SRISK of Acharya et al. (Am Econ Rev 102:59–64, 2012). We then compare the bucketing using the two academic approaches and supervisory buckets. Because it leads to capital surcharges, bucketing should be consistent, irrespective of methodology. Instead, discrepancies in the allocation between buckets emerge and this suggests the complementary use of other methodologies.

scholarly journals PERHITUNGAN PREMI ASURANSI JOINT LIFE DENGAN MODEL VASICEK DAN CIR

2019 ◽  
Vol 8 (3) ◽  
pp. 246
Author(s):  
I MADE WAHYU WIGUNA ◽  
KETUT JAYANEGARA ◽  
I NYOMAN WIDANA
Keyword(s):  
Stochastic Process ◽  
Interest Rates ◽  
Life Insurance ◽  
Insurance Premium ◽  
Insurance Contract ◽  
Insurance Company ◽  
Vasicek Model ◽  
Cir Model ◽  
Premium Payment ◽  
Premium Price

Premium is a sum of money that must be paid by insurance participants to insurance company, based on  insurance contract. Premium payment are affected by interest rates. The interest rates change according to stochastic process. The purpose of this work is to calculate the price of joint life insurance premiums with Vasicek and CIR models. The price of a joint life insurance premium with Vasicek and CIR models, at the age of the insured 35 and 30 years has increased until the last year of the contract. The price of a joint life insurance premium with Vasicek model is more expensive than the premium price using CIR model.

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