The Relationships among Risk Factors, Coverage, Claim Amount: A Case Study of Auto Physical Damage Insurance

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Title:	The Relationships among Risk Factors, Coverage, Claim Amount: A Case Study of Auto Physical Damage Insurance
Authors:	Lee, Hsu-Hua;Hsu, Ming-Yuan;Lee, Chen-Ying
Keywords:	Risk factor;insurance underwriting;adverse selection;automobile physical damage insurance;structural equitation model
Date:	2015-03-01
Issue Date:	2016-04-22 13:15:49 (UTC+8)
Publisher:	Centre for Environment, Social and Economic Research Publications
Abstract:	The purpose of this research is to examine the relationships among risk factors, selection of coverage, and claim amount. In this regard, auto physical damage insurance data from a property-liability company in Taiwan is analyzed using a structural equitation model. The relationships among risk factors, selection of coverage, and claim amount are analyzed using 14 independent variables and two explained variables. The results indicate that human factors, road environment factors, and place have positive significant impacts on selection of coverage, and that coverage has a negative correlation with claim amount. The study's resultscan be used to establish an effective underwriting and rating system.
Relation:	International Journal of Applied Mathematics and Statistics 53(3), pp.73-86
Appears in Collections:	[Department of Management Sciences] Journal Article

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