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Cost Function Estimation and Quality Bias: The Regulated Automobile Insurance Industry

✍ Scribed by Ronald R. Braeutigam and Mark V. Pauly

Book ID
124743792
Publisher
The RAND Corporation
Year
1986
Tongue
English
Weight
354 KB
Volume
17
Category
Article
ISSN
0741-6261

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## Abstract This paper considers the problem of predicting claim costs in the automobile insurance industry. The first stage involves classifying policy holders according to their perceived risk, followed by modelling the claim costs within each risk group. Two methods are compared for the risk cla