scholarly journals IMPLEMENTASI METODE BAYES PADA PENGHITUNGAN PREMI ASURANSI KENDARAAN BERMOTOR

2020 ◽  
Vol 3 (2) ◽  
pp. 112-123
Author(s):  
Rika Fitriani ◽  
Gunardi Gunardi
Keyword(s):  
Historical Data ◽  
Motor Vehicle ◽  
Insurance Premium ◽  
Insurance Companies ◽  
Bayes Method ◽  
General Insurance ◽  
Pure Premium ◽  
Historical Data Analysis ◽  
Claim Frequency ◽  
Motor Vehicle Insurance

One type of general insurance is motor vehicle insurance. Premium pricing of general insurance can be calculated by some methods. In this study, Bayes method will be used. The distribution of claim frequency is Poisson distribution and the distribution of claim severity is Exponential distribution. The premium is calculated by multiplying the expectation of claim frequency and the expectation of claim severity. Based on the historical data analysis using the Bayes method, the highest pure premium of motor vehicle insurance in Indonesia is Hino brand and the lowest pure premium is Honda brand. The result of this premium pricing can be used as a reference for the insurance companies to manage their motor vehicle insurance reserves.

scholarly journals Reserves of Motor-Vehicle Insurance in Finland

1962 ◽  
Vol 2 (1) ◽  
pp. 161-173 ◽  
Author(s):  
Teivo Pentikäinen
Keyword(s):  
Motor Vehicle ◽  
Insurance Companies ◽  
Accurate Calculation ◽  
Short Term ◽  
The Subject ◽  
Image Position ◽  
Premium Income ◽  
The Cost ◽  
Motor Vehicle Insurance ◽  
Cluster Points

The Ministry of Social Affairs, which acts i.a. as the supervising office in Finland, has given instructions regarding the normal reserves of insurance companies. A summary of these and some comments are given here as far as they concern motor-vehicle insurance. The instructions as far as they concern the subject referred to in the following in the items 2-6, 9 and 10, were compiled by a committee, presided over by Mr. I. Ketola, M. Sc, which availed itself of the experience of several Finnish insurance companies.In order to give a review of the system as a whole many items, which are mathematically trivial and well-known, are briefly explained.The conventional principle of “pro rata parte temporis” is followed, which leads to the well-known reserve where P is the premium income of the company. This provides that the days when the premiums fall due are approximately equally distributed over the year (which can be checked from the premium sums of the different months in the book-keeping) or at least have no cluster points in the second half of the year and that the cost of the collecting of premiums is not less than 0.2 P. A more accurate calculation takes into account i.a. temporary short term policies etc.In casu-reserve. All unpaid claims (except those mentioned later) due to accidents which occured before the end of the account year, are listed and rated one by one. Doubtful cases, e.g. where the cause of the accident is still under litigation, are calculated in accordance with the “worst” alternative.

scholarly journals Penerapan Metode Limited-Fluctuation Credibility dalam Menentukan Premi Murni pada Asuransi Kendaraan Bermotor di PT XYZ

2021 ◽  
Vol 4 (2) ◽  
pp. 126
Author(s):  
Mira Zakiah Rahmah ◽  
Aceng Komarudin Mutaqin
Keyword(s):  
Motor Vehicle ◽  
Secondary Data ◽  
Past Experience ◽  
Credibility Theory ◽  
Partial Loss ◽  
Pure Premium ◽  
Premium Rates ◽  
Motor Vehicle Insurance ◽  
Insurance Data

<p><strong>Abstract. </strong>This paper discusses the method of limited-fluctuation credibility, also known as classic credibility. Credibility theory is a technique for predicting future premium rates based on past experience data. Limited fluctuation credibility consists of two credibility, namely full credibility if Z = 1 and partial credibility if Z &lt;1. Full credibility is achieved if the amount of recent data is sufficient for prediction, whereas if the latest data is insufficient then the partial credibility approach is used. Calculations for full and partial credibility standards are used for loss measures such as frequency of claims, size of claims, aggregate losses and net premiums. The data used in this paper is secondary data recorded by the company PT. XYZ in 2014. This data contains data on the frequency of claims and the size of the policyholder's partial loss claims for motor vehicle insurance products category 4 areas 1. Based on the results of the application, the prediction of pure premiums for 2015 cannot be fully based on insurance data for 2014 because the credibility factor value is less than 1. So based on the limited-fluctuation credibility method, the prediction of pure premiums for 2015 must be based on manual values for pure premiums as well as insurance data for 2014. If manual values for pure premium is 2,000,000 rupiah, then the prediction of pure premium for 2015 is 1,849,342 rupiah.</p><p><strong>Keywords</strong><strong>: </strong>limited fluctuation credibility, full credibility, partial credibility and partial loss</p>

PROSES PEMBAYARAN KLAIM ASURANSI KENDARAAN BERMOTOR BAGI TERTANGGUNG (Studi di Brins General Insurance Cabang Yogyakarta)

2019 ◽  
Vol 7 (1) ◽  
pp. 130
Author(s):  
Atyanta Nanda Dhanistha , ◽  
Djuwityastuti ,
Keyword(s):  
Motor Vehicle ◽  
Secondary Data ◽  
Motor Vehicles ◽  
Data Types ◽  
Literature Study ◽  
Insurance Claim ◽  
Commercial Law ◽  
General Insurance ◽  
Analysis Technique ◽  
Motor Vehicle Insurance

<p>Abstract<br />This article aims to explaining completion of the insurance claim payment motorized vehicles for insured in <br />BRINS General Insurance Branch Yogyakarta. This study examines the problems, firstly how the rejection <br />of motor vehicle insurance claims and settlement of payments for the insured at BRINS General Insurance <br />Branch Yogyakarta. Secondly, does the rejection of claims occurring at BRINS General Insurance Branch <br />Yogyakarta is in accordance with the laws and regulations. This research is an empirical normative legal <br />research that is descriptive. Secondary data types include primary and secondary legal materials. Data <br />collection techniques used are literature study and interview, then the analysis technique used is qualitative <br />method. The results showed that the call to pay motor vehicle insurance at BRINS Branch Yogyakarta <br />General Insurance is done through the stages, also using Article 31 paragraph (3) of Law Number 40 <br />Year 2014 as a guidance that is handling risk quickly, easily, easily accessed and fair. The settlement <br />of insurance claim payment at BRINS Branch Yogyakarta Public Insurance is based on the existing <br />provisions of Law Number 40 Year 2014 regarding the rules of implementation in the OJK Regulations, <br />the Book of Commercial Law, the Civil Code and the Standard of Motor Vehicle Insurance Indonesia. It <br />can be proved by Article 29 paragraph (2) and paragraph (3) of OJK Regulation No. 69/POJK.05/2016 <br />that the premium payment has been made which resulted in the responsibility of the Insurer.<br />Keywords: Payments; claims; agreements; motor vehicles</p><p>Abstrak<br />Artikel ini bertujuan untuk menjelaskan penyelesaian pembayaran klaim asuransi kendaraan bermotor di <br />BRINS General Insurance Cabang Yogyakarta. Penelitian ini mengkaji permasalahan, pertama bagaimana <br />penolakan klaim asuransi kendaraan bermotor dan penyelesaian pembayarannya bagi tertanggung di <br />BRINS General Insurance Cabang Yogyakarta. Kedua, apakah penolakan klaim yang terjadi di BRINS <br />General Insurance Cabang Yogyakarta sudah sesuai dengan peraturan perundang-undangan. Penelitian <br />ini adalah penelitian hukum normatif empiris yang bersifat deskriptif. Jenis data sekunder meliputi bahan <br />hukum  primer  dan  sekunder.  Teknik  pengumpulan  data  yang  digunakan  adalah  studi  kepustakaan <br />dan wawancara, selanjutnya teknik analisis yang digunakan adalah metode kualitatif. Hasil penelitian <br />menunjukkan bahwa penyelesaian pembayaran klaim asuransi kendaraan bermotor di BRINS General <br />Insurance  Cabang Yogyakarta  dilakukan  melalui  tahapan  yang  telah  ditentukan,  serta  menjadikan <br />Pasal 31 ayat (3) Undang-Undang Nomor 40 Tahun 2014 sebagai pedoman yaitu penanganan klaim <br />secara cepat, sederhana, mudah diakses, dan adil. Penyelesaian pembayaran klaim asuransi di BRINS <br />General Insurance Cabang Yogyakarta dilakukan berdasarkan perundang-undangan yang ada yaitu <br />Undang-Undang Nomor 40 Tahun 2014 beserta peraturan pelaksanaannya dalam Peraturan OJK, Kitab <br />Undang-Undang Hukum Dagang, Kitab Undang-Undang Hukum Perdata, serta Polis Standar Asuransi <br />Kendaraan Bermotor Indonesia.Hal ini dapat dibuktikan melalui Pasal 29 ayat (2) dan ayat (3) Peraturan <br />OJK Nomor 69/POJK.05/2016 bahwa apabila pembayaran premi telah dilakukan maka pembayaran <br />klaim asuransi yang timbul merupakan tanggung jawab Penanggung.<br />Kata Kunci : Pembayaran; klaim; perjanjian; kendaraan bermotor</p>

scholarly journals Operational Efficiency of Selected General Insurance Companies in India

2019 ◽  
Vol 9 (2) ◽  
pp. 4899-4902
Keyword(s):  
Public Sector ◽  
Life Insurance ◽  
Private Insurance ◽  
Insurance Premium ◽  
The Other ◽  
Third Party ◽  
Insurance Companies ◽  
Insurance Policies ◽  
General Insurance ◽  
To Come

Life is full of risks and uncertainties. In fact risk is everywhere. Even when you ride a bike to the nearest shop in the street, there is a risk. One must protect himself or herself from this risk. The solution is insurance. Broadly it is two types i.e. life insurance and non-life insurance (general insurance). In this paper we discuss about only general insurance. General insurance helps in securing ourselves and things we value like homes, cars, bikes or any other property from any kind of mishap whether it is big or small. General insurance protect insured property from fire accidents, floods, earthquakes, storms, thefts, travel accidents/mishaps or any other kind of calamity, even from the cost incurred against us from legal action depending upon the type of policy selected by the insurer. From the post liberalization scenario, general insurance in India is growing rapidly. The reasons behind its spectacular growth are allowing private companies to enter into Indian market, low insurance premium, TPAs (Third Party Administrators), Fast and immediate settlement of insurance claims, Innovative general insurance policies, discounts in insurance products, increasing awareness among people, more distribution channels etc. The other side of the coin is, public sector insurance companies are facing cut throat completion from private insurance companies as they offer wide variety of policies at a low premium. Due to this few general insurance companies are closed and few are forced to come out with same polices and services. Ultimately the performance of public sector general insurance companies also enhanced with the competitive moves by private players. On the other hand, customers are also exposed to new trends in the insurance market. Insurance Regulatory and Development Authority (IRDA) is the apex body in India to monitor the activities of insurance companies. It has laid down standard terms and conditions to general insurance companies and also given scope for personal accidental life insurance policies. IRDA has taken all the measures to improve the performance of general insurance companies as it is one of the fast growing areas in Indian economy.

scholarly journals Growth and Performance of General Insurance Companies in India – Premium Rate and Claim Settlement Perspective

2020 ◽  
Vol 8 (5) ◽  
pp. 2071-2073
Keyword(s):  
Public Sector ◽  
Life Insurance ◽  
Private Insurance ◽  
Insurance Premium ◽  
The Other ◽  
Third Party ◽  
Insurance Companies ◽  
Insurance Policies ◽  
General Insurance ◽  
And Performance

Life is full of risks and uncertainties. In fact risk is everywhere. Even when you ride a bike to the nearest shop in the street, there is a risk. One must protect himself or herself from this risk. The solution is insurance. Broadly it is two types i.e. life insurance and non-life insurance (general insurance). In this paper we discuss about only general insurance. General insurance helps in securing ourselves and things we value like homes, cars, bikes or any other property from any kind of mishap whether it is big or small. General insurance protect insured property from fire accidents, floods, earthquakes, storms, thefts, travel accidents/mishaps or any other kind of calamity, even from the cost incurred against us from legal action depending upon the type of policy selected by the insurer. From the post liberalization scenario, general insurance in India is growing rapidly. The reasons behind its spectacular growth are allowing private companies to enter into Indian market, low insurance premium, TPAs (Third Party Administrators), Fast and immediate settlement of insurance claims, Innovative general insurance policies, discounts in insurance products, increasing awareness among people, more distribution channels etc. The other side of the coin is, public sector insurance companies are facing cut throat completion from private insurance companies as they offer wide variety of policies at a low premium. Due to this few general insurance companies are closed and few are forced to come out with same polices and services. Ultimately the performance of public sector general insurance companies also enhanced with the competitive moves by private players. On the other hand, customers are also exposed to new trends in the insurance market. Insurance Regulatory and Development Authority (IRDA) is the apex body in India to monitor the activities of insurance companies. It has laid down standard terms and conditions to general insurance companies and also given scope for personal accidental life insurance policies. IRDA has taken all the measures to improve the performance of general insurance companies as it is one of the fast growing areas in Indian economy.

scholarly journals The Dynamics of General Insurance Sector in India - Growth and Performance Perspective

2019 ◽  
Vol 9 (2) ◽  
pp. 536-540
Keyword(s):  
Public Sector ◽  
Life Insurance ◽  
Private Insurance ◽  
Insurance Premium ◽  
The Other ◽  
Third Party ◽  
Insurance Companies ◽  
Insurance Sector ◽  
Insurance Policies ◽  
General Insurance

Life is full of risks and uncertainties. In fact risk is everywhere. Even when you ride a bike to the nearest shop in the street, there is a risk. One must protect himself or herself from this risk. The solution is insurance. Broadly it is two types i.e. life insurance and non-life insurance (general insurance). In this paper we discuss about only general insurance. General insurance helps in securing ourselves and things we value like homes, cars, bikes or any other property from any kind of mishap whether it is big or small. General insurance protect insured property from fire accidents, floods, earthquakes, storms, thefts, travel accidents/mishaps or any other kind of calamity, even from the cost incurred against us from legal action depending upon the type of policy selected by the insurer. From the post liberalization scenario, general insurance in India is growing rapidly. The reasons behind its spectacular growth are allowing private companies to enter into Indian market, low insurance premium, TPAs (Third Party Administrators), Fast and immediate settlement of insurance claims, Innovative general insurance policies, discounts in insurance products, increasing awareness among people, more distribution channels etc. The other side of the coin is, public sector insurance companies are facing cut throat completion from private insurance companies as they offer wide variety of policies at a low premium. Due to this few general insurance companies are closed and few are forced to come out with same polices and services. Ultimately the performance of public sector general insurance companies also enhanced with the competitive moves by private players. On the other hand, customers are also exposed to new trends in the insurance market. Insurance Regulatory and Development Authority (IRDA) is the apex body in India to monitor the activities of insurance companies. It has laid down standard terms and conditions to general insurance companies and also given scope for personal accidental life insurance policies. IRDA has taken all the measures to improve the performance of general insurance companies as it is one of the fast growing areas in Indian economy. General insurance companies under public sector are facing lot of challenges from private players and to with stand in the completion, even they have improved a lot in their quality of service in multiple facets like decreasing the premium, quick settlement in claims etc. In a nut shell, general insurance business is contributing significantly to Gross Domestic Product (GDP).

scholarly journals Factors Affecting Equity and Its Impact on Insurance Premium of General Insurance Companies in Indonesia

2018 ◽  
Vol 5 (2) ◽  
pp. 70
Author(s):  
M. Noor Salim ◽  
Sukarman Sukarman
Keyword(s):  
Capital Investment ◽  
Secondary Data ◽  
Insurance Premium ◽  
Insurance Companies ◽  
Significant Positive Effect ◽  
Working Capital ◽  
Factors Affecting ◽  
General Insurance ◽  
Premium Income ◽  
Positive Effect

The phenomenon that was appointed to be the object of research was the decline in the percentage of premium income in general insurance companies in Indonesia while the equity value (capitalization) of the company increased. This study aims to determine the effect that occurs due to the influence of the variables of free working capital, investment, assets and equity on the acquisition of premiums. The research data is secondary data taken from the OJK website. Processing data using multiple linear regression methods, and using two sub-structure equation techniques because in this study using intervening variables. From the results of the study conclusions are as follows: Working capital does not have a significant positive effect on equity, investment has a significant positive effect on equity, assets do not have a significant effect on equity, working capital does not significantly influence the acquisition of premiums, investment does not significantly influence the acquisition of premiums, assets no significant effect on the acquisition of premiums, equity has a positive and significant effect on the acquisition of premiums. In this study, equity mediates the effect of working capital, investment, assets on the acquisition of premiums.

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