Effectiveness of Using Credibility Modelling in the Insurance Industry - a Czech Case Study

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F46747885%3A24310%2F22%3A00010432" target="_blank" >RIV/46747885:24310/22:00010432 - isvavai.cz</a>

Výsledek na webu

<a href="https://msed.vse.cz/msed_2022/sbornik/toc.html" target="_blank" >https://msed.vse.cz/msed_2022/sbornik/toc.html</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Effectiveness of Using Credibility Modelling in the Insurance Industry - a Czech Case Study

Popis výsledku v původním jazyce

Credibility theory is one of the actuarial approaches used to calculate premiums. This article aims to evaluate the effectiveness of using the theory of credibility to predict the development of premiums by comparing the results of calculating premium credibility based on actual data collected from Czech non-life insurance from 2006 to 2018 with the actual results for non-life insurance in the Czech Republic. The Czech insurance market is strongly influenced by natural risks, which in many cases have high losses. The data are taken from the Czech non-life insurance market concerning the number of the three Czech most risky areas and the number of extreme claims. Concerning the number of extreme claims, the results of this contribution can be a good guide for the Czech insurance industry in extreme claims during natural disasters. This paper evaluates how credibility theory methods are effective for insurance companies in estimating the development of premiums.

Název v anglickém jazyce

Effectiveness of Using Credibility Modelling in the Insurance Industry - a Czech Case Study

Popis výsledku anglicky

Credibility theory is one of the actuarial approaches used to calculate premiums. This article aims to evaluate the effectiveness of using the theory of credibility to predict the development of premiums by comparing the results of calculating premium credibility based on actual data collected from Czech non-life insurance from 2006 to 2018 with the actual results for non-life insurance in the Czech Republic. The Czech insurance market is strongly influenced by natural risks, which in many cases have high losses. The data are taken from the Czech non-life insurance market concerning the number of the three Czech most risky areas and the number of extreme claims. Concerning the number of extreme claims, the results of this contribution can be a good guide for the Czech insurance industry in extreme claims during natural disasters. This paper evaluates how credibility theory methods are effective for insurance companies in estimating the development of premiums.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50206 - Finance

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2022

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

The 16th International Days of Statistics and Economics – Conference Proceedings

ISBN

978-80-87990-29-2

ISSN

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e-ISSN

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Počet stran výsledku

10

Strana od-do

43-52

Název nakladatele

MELANDRIUM

Místo vydání

Prague

Místo konání akce

Prague

Datum konání akce

1. 1. 2022

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

001235750900005