Automobile insurance ratemaking in the presence of asymmetrical information
信息不对称下的汽车保险费率制定
Abstract Automobile insurance is an example of a market where multi‐period contracts are observed. This form of contract can be justified by asymmetrical information between the insurer and the insured. Insurers use risk classification together with bonus‐malus systems. In this paper we show that the actual methodology for the integration of these two approaches can lead to inconsistencies. We develop a statistical model that adequately integrates risk classification and…