scholarly journals The Analysis of Motor Vehicle Insurance Claim Reserve Using Robust Chain Ladder

2021 ◽  
Author(s):  
Desnu Anggara Suwardi ◽  
Yogo Purwono
Keyword(s):  
Motor Vehicle ◽  
Insurance Claim ◽  
Chain Ladder ◽  
Motor Vehicle Insurance

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 Implementation of Gaussian Process Regression in Estimating Motor Vehicle Insurance Claims Reserves

2021 ◽  
Vol 2 (1) ◽  
pp. 38-48
Author(s):  
Ria Novita Suwandani ◽  
Yogo Purwono
Keyword(s):  
Gaussian Process ◽  
Motor Vehicle ◽  
Gaussian Process Regression ◽  
Theory And Practice ◽  
Chain Ladder Method ◽  
Business Line ◽  
Chain Ladder ◽  
Motor Vehicle Insurance ◽  
Insurance Data ◽  
Process Method

This study aims to calculate the allowance for losses by applying Gaussian Process regression to estimate future claims. Modeling is done on motor vehicle insurance data. The data used in this study are historical data on PT XYZ's motor vehicle insurance business line during 2017 and 2019 (January 2017 to December 2019). Data analysis will be carried out on the 2017 - 2019 data to obtain an estimate of the claim reserves in the following year, namely 2018 - 2020. This study uses the Chain Ladder method which is the most popular loss reserving method in theory and practice. The estimation results show that the Gaussian Process Regression method is very flexible and can be applied without much adjustment. These results were also compared with the Chain Ladder method. Estimated claim reserves for PT XYZ's motor vehicle business line using the chain-ladder method, the company must provide funds for 2017 of 8,997,979,222 IDR in 2018 16,194,503,605 IDR in 2019 amounting to Rp. 1,719,764,520 for backup. Meanwhile, by using the Bayessian Gaussian Process method, the company must provide funds for 2017 of 9,060,965,077 IDR in 2018 amounting to 16,307,865,130 IDR, and in 2019 1,731,802,871 IDR for backup. The more conservative Bayessian Gaussian Process method. Motor vehicle insurance data has a short development time (claims occur) so that it is included in the short-tail type of business.

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 PREVENTATIVE MEASURES OF INSURERS AGAINST INSURANCE FRAUD WITH PARTICULAR REGARD TO MOTOR INSURANCE

Obiter ◽  
2017 ◽  
Vol 38 (1) ◽  
Author(s):  
Samantha Huneberg
Keyword(s):  
Motor Vehicle ◽  
Insurance Industry ◽  
Insurance Contract ◽  
Insurance Fraud ◽  
Insurance Claims ◽  
Preventative Measures ◽  
Motor Insurance ◽  
Major Increase ◽  
Motor Vehicle Insurance

Insurance fraud is prevalent in all spheres of the insurance industry; however, motor vehicle insurance sees a major increase in fraudulent insurance claims. It is for this reason that insurers need mechanisms in place to protect themselves from fraudulent claims by an insured. One of the more common preventative measures that insurers are using to protect themselves is by inserting forfeiture clauses in the insurance contract itself. These clauses aim to protect the insurer against any type of fraudulent claim by the insured. These clauses do, however, also bring a host of issues to the fore; including the fairness of these clauses as against the insured. These clauses do tend to be one-sided and therefore, a proper evaluation of these clauses is necessary to understand the application and effect these clauses can have on both the parties to an insurance contract.

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