Related papers: Pay-As-You-Drive Insurance Pricing Model
We consider the interaction among agents engaging in a driving task and we model it as general-sum game. This class of games exhibits a plurality of different equilibria posing the issue of equilibrium selection. While selecting the most…
Credible microscopic traffic simulation requires car-following models that capture both the average response and the substantial variability observed across drivers and situations. However, most data-driven calibrations remain…
Traffic microscopic simulation applications are a common tool in road transportation analysis and several attempts to perform road safety assessments have recently been carried out. However, these approaches often ignore causal…
In this article, we assess the benefits of coordination and partnerships between governments and private insurers, and provide further evidence for microinsurance products as powerful and cost-effective tools for achieving poverty…
Predicting travel times of vehicles in urban settings is a useful and tangible quantity of interest in the context of intelligent transportation systems. We address the problem of travel time prediction in arterial roads using data sampled…
This working paper is divided into two parts. Firstly, we develop a new combined equilibrium model of business land-use, which puts travelers' traffic equilibrium and business companies' competitive location equilibrium into a unified…
We propose a hybrid decision-making framework for safe and efficient autonomous driving of selfish vehicles on highways. Specifically, we model the dynamics of each vehicle as a Mixed-Logical-Dynamical system and propose simple driving…
While motion planning approaches for automated driving often focus on safety and mathematical optimality with respect to technical parameters, they barely consider convenience, perceived safety for the passenger and comprehensibility for…
Data on a continuous variable are often summarized by means of histograms or displayed in tabular format: the range of data is partitioned into consecutive interval classes and the number of observations falling within each class is…
In this paper we obtain closed expressions for the probability distribution function, when we consider aggregated risks with multivariate dependent Pareto distributions. We work with the dependent multivariate Pareto type II proposed by…
Risk aversion and insurance are two prominent and interconnected concepts in economics and finance. To explore their fundamental connection, we introduce risk-insurance parity, which associates various classes of insurance contracts with…
In order to better manage the premiums and encourage safe driving, many commercial insurance companies (e.g., Geico, Progressive) are providing options for their customers to install sensors on their vehicles which collect individual…
Automotive insurers increasingly have access to telematic information via black-box recorders installed in the insured vehicle, and wish to identify undesirable behaviour which may signify increased risk or uninsured activities. However,…
The non-life insurance sector operates within a highly competitive and tightly regulated framework, confronting a pivotal juncture in the formulation of pricing strategies. Insurers are compelled to harness a range of statistical…
Traffic congestion has large economic and social costs. The introduction of autonomous vehicles can potentially reduce this congestion by increasing road capacity via vehicle platooning and by creating an avenue for influencing people's…
The Affordable Care Act (ACA) includes a permanent revenue transfer methodology which provides financial incentives to health insurance plans that have higher than average actuarial risk. In this paper, we derive some statistical…
The Pareto model is very popular in risk management, since simple analytical formulas can be derived for financial downside risk measures (Value-at-Risk, Expected Shortfall) or reinsurance premiums and related quantities (Large Claim Index,…
In this paper we study the pricing and hedging problem of a portfolio of life insurance products under the benchmark approach, where the reference market is modelled as driven by a state variable following a polynomial diffusion on a…
Road information such as road profile and traffic density have been widely used in intelligent vehicle systems to improve road safety, ride comfort, and fuel economy. However, vehicle heterogeneity and parameter uncertainty make it…
Motion planning at urban intersections that accounts for the situation context, handles occlusions, and deals with measurement and prediction uncertainty is a major challenge on the way to urban automated driving. In this work, we address…