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Title: A Bonus-Malus system with more competitive rates by using the Esscher Principle
Authors: Gómez Déniz, Emilio 
León Santana, Miguel
UNESCO Clasification: 5302 Econometría
530202 Modelos econométricos
Keywords: Bonus-Malus System
Bayesian Approach
Esscher Premium
Issue Date: 2005
Journal: Estudios De Economia Aplicada 
Abstract: The main purpose of the Bonus-Malus Systems is to better the individual risk, so that, policyholders will pay, in the long run, a premium corresponding to their own claim frequency. Nevertheless, in all Bonus-Malus system some people are unfairly penalized, since they pa more than their pure premium. We present a model, based on a suggestion of Lemaire (1979, pp. 278-281) which decreases these overcharges by minimizing the expectation of the Esscher loss function, obviously under the condition of financial balance of the system.
ISSN: 1133-3197
Source: Estudios De Economia Aplicada[ISSN 1133-3197],v. 23 (1), p. 79-91, (2005)
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