Related papers: Pay-As-You-Drive Insurance Pricing Model
Risk is traditionally described as the expected likelihood of an undesirable outcome, such as collisions for autonomous vehicles. Accurately predicting risk or potentially risky situations is critical for the safe operation of autonomous…
This paper aims to better predict highly skewed auto insurance claims by combining candidate predictions. We analyze a version of the Kangaroo Auto Insurance company data and study the effects of combining different methods using five…
The classic semi-Markov disability model is expanded with individual and collective health claims to improve its explanatory and predictive power -- in particular in the context of group experience rating. The inclusion of collective health…
In the current insurance literature, prediction of insurance claims in the regression problem is often performed with a statistical model. This model-based approach may potentially suffer from several drawbacks: (i) model misspecification,…
The bonus-malus system (BMS) is a widely used premium adjustment mechanism based on policyholder's claim history. Most auto insurance BMSs assume that policyholders in the same bonus-malus (BM) level share the same a posteriori risk…
This paper proposes a new framework based on joint statistical models for evaluating risks of automated vehicles in a naturalistic driving environment. The previous studies on the Accelerated Evaluation for automated vehicles are extended…
Consider an insurance company exposed to a stochastic economic environment that contains two kinds of risk. The first kind is the insurance risk caused by traditional insurance claims, and the second kind is the financial risk resulting…
Contemporary insurance theory is concentrated on models with different types of polices and shock events may influence the payments on some of them. Jordanova (2018) considered a model where a shock event contributes to the total claim…
Compute and memory constraints have historically prevented traffic simulation software users from fully utilizing the predictive models underlying them. When calibrating car-following models, particularly, accommodations have included 1)…
We model a platooning system including trucks and a third-party service provider that performs platoon coordination, distributes the platooning profit within platoons, and charges the trucks in exchange for its services. This paper studies…
This contribution is concerned with price optimisation of the new business for a non-life product. Due to high competition in the insurance market, non-life insurers are interested in increasing their conversion rates on new business based…
Human drivers produce a vast amount of data which could, in principle, be used to improve autonomous driving systems. Unfortunately, seemingly straightforward approaches for creating end-to-end driving models that map sensor data directly…
The paper develops a methodology to enable microscopic models of transportation systems to be accessible for a statistical study of traffic accidents. Our approach is intended to permit an understanding not only of historical losses, but…
We present a joint copula-based model for insurance claims and sizes. It uses bivariate copulae to accommodate for the dependence between these quantities. We derive the general distribution of the policy loss without the restrictive…
A wide range of price-based congestion management schemes were proposed in the literature ranging from marginal cost road pricing to trip based multimodal pricing. The underlying models were formulated under different theoretical…
In this paper, we consider the problem of experience rating within the classic Markov chain life insurance framework. We begin by establishing a link between mixed Poisson distributions and the problem of pricing group disability insurance…
We study a dynamic model of a non-life insurance portfolio. The foundation of the model is a compound Poisson process that represents the claims side of the insurer. To introduce clusters of claims appearing, e.g. with catastrophic events,…
This work in progress considers reachability-based safety analysis in the domain of autonomous driving in multi-agent systems. We formulate the safety problem for a car following scenario as a differential game and study how different…
The capability to follow a lead-vehicle and avoid rear-end collisions is one of the most important functionalities for human drivers and various Advanced Driver Assist Systems (ADAS). Existing safety performance justification of the…
Platooning or cooperative adaptive cruise control (CACC) has been investigated for decades, but debate about its lasting impact is still ongoing. While the benefits of platooning and the formation of platoons are well understood for trucks,…