{"title":"汽车保险的风险管理机会:关注车辆价值","authors":"Martin Ellingsworth","doi":"10.1111/rmir.12259","DOIUrl":null,"url":null,"abstract":"Ratemaking and risk‐based pricing revolve around the value at risk, involving a tendency of higher values implying higher premiums. Traditionally, vehicle values are set at “list price” and depreciate over time on a one‐size‐fits‐all factor model. If values change over time, so should premiums, but a single factor table that only goes downward to flat is out of sorts with today. In today's transactional data streams, vehicle features, and values can be easily observed—of note, a shift in product mix that has more options and higher retained values creates a gap in actual versus traditionally expected insurance values. This gap most acutely appears at the vehicle “as built” level, which is more granular than current segmentation levels of insurance ratemaking vehicle valuation analysis. The result is leaving companies to simply raise base rates universally until they can adapt more flexible price‐to‐value methods at an “as built” price accuracy sophistication level.","PeriodicalId":1,"journal":{"name":"Accounts of Chemical Research","volume":"11 20","pages":""},"PeriodicalIF":16.4000,"publicationDate":"2024-02-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Risk management opportunities in auto insurance: A focus on the value of vehicles\",\"authors\":\"Martin Ellingsworth\",\"doi\":\"10.1111/rmir.12259\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Ratemaking and risk‐based pricing revolve around the value at risk, involving a tendency of higher values implying higher premiums. Traditionally, vehicle values are set at “list price” and depreciate over time on a one‐size‐fits‐all factor model. If values change over time, so should premiums, but a single factor table that only goes downward to flat is out of sorts with today. In today's transactional data streams, vehicle features, and values can be easily observed—of note, a shift in product mix that has more options and higher retained values creates a gap in actual versus traditionally expected insurance values. This gap most acutely appears at the vehicle “as built” level, which is more granular than current segmentation levels of insurance ratemaking vehicle valuation analysis. The result is leaving companies to simply raise base rates universally until they can adapt more flexible price‐to‐value methods at an “as built” price accuracy sophistication level.\",\"PeriodicalId\":1,\"journal\":{\"name\":\"Accounts of Chemical Research\",\"volume\":\"11 20\",\"pages\":\"\"},\"PeriodicalIF\":16.4000,\"publicationDate\":\"2024-02-20\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Accounts of Chemical Research\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1111/rmir.12259\",\"RegionNum\":1,\"RegionCategory\":\"化学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"CHEMISTRY, MULTIDISCIPLINARY\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Accounts of Chemical Research","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1111/rmir.12259","RegionNum":1,"RegionCategory":"化学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"CHEMISTRY, MULTIDISCIPLINARY","Score":null,"Total":0}
Risk management opportunities in auto insurance: A focus on the value of vehicles
Ratemaking and risk‐based pricing revolve around the value at risk, involving a tendency of higher values implying higher premiums. Traditionally, vehicle values are set at “list price” and depreciate over time on a one‐size‐fits‐all factor model. If values change over time, so should premiums, but a single factor table that only goes downward to flat is out of sorts with today. In today's transactional data streams, vehicle features, and values can be easily observed—of note, a shift in product mix that has more options and higher retained values creates a gap in actual versus traditionally expected insurance values. This gap most acutely appears at the vehicle “as built” level, which is more granular than current segmentation levels of insurance ratemaking vehicle valuation analysis. The result is leaving companies to simply raise base rates universally until they can adapt more flexible price‐to‐value methods at an “as built” price accuracy sophistication level.
期刊介绍:
Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance.
Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.