A Comparative Analysis of 30 Bonus-Malus Systems

Jean Lemaire and Hongmin Zi

ASTIN Bulletin, 1994, vol. 24, issue 2, 287-309

Abstract: The automobile third party insurance merit-rating systems of 22 countries are simulated and compared, using as main tools the stationary average premium level, the variability of the policyholders' payments, their elasticity with respect to the claim frequency, and the magnitude of the hunger for bonus. Principal components analysis is used to define an “Index of Toughness” for all systems.

Date: 1994
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