Risk classification with on-demand insurance

IF 2.1 3区经济学 Q2 BUSINESS, FINANCE

Journal of Risk and Insurance Pub Date : 2023-06-15 DOI:10.1111/jori.12429

Alexander Braun, Niklas Haeusle, Paul Thistle

引用次数: 0

Abstract

On-demand insurance is an innovative business model from the InsurTech space, which provides coverage for episodic risks. It makes use of a simple fact in a practical way: People differ in their frequency of exposure as well as the probability of loss. The extra dimension of heterogeneity can be used to screen the insured and shifts the utility-possibility frontier outward. We provide a sufficient condition under which type-specific full insurance at the actuarially fair price is incentive compatible. We also show that our results hold for various real-world implementations of on-demand insurance.

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按需保险的风险分类

按需保险是保险科技领域的一种创新商业模式，它为偶发风险提供保险。它以一种实用的方式利用了一个简单的事实:人们接触的频率不同，损失的可能性也不同。异质性的额外维度可以用来筛选被保险人，并将效用-可能性边界向外移动。我们提供了一个充分条件，在此条件下，精算公平价格的特定类型全额保险是激励相容的。我们还表明，我们的结果适用于按需保险的各种实际实现。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Risk and Insurance Multiple-

CiteScore

3.50

自引率

15.80%

发文量

期刊介绍： The Journal of Risk and Insurance (JRI) is the premier outlet for theoretical and empirical research on the topics of insurance economics and risk management. Research in the JRI informs practice, policy-making, and regulation in insurance markets as well as corporate and household risk management. JRI is the flagship journal for the American Risk and Insurance Association, and is currently indexed by the American Economic Association’s Economic Literature Index, RePEc, the Social Sciences Citation Index, and others. Issues of the Journal of Risk and Insurance, from volume one to volume 82 (2015), are available online through JSTOR . Recent issues of JRI are available through Wiley Online Library. In addition to the research areas of traditional strength for the JRI, the editorial team highlights below specific areas for special focus in the near term, due to their current relevance for the field.