The use of credit data for risk classification in automobile insurance

Kamil Gala and Karolina Kolak
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Kamil Gala: Ubezpieczeniowy Fundusz Gwarancyjny
Karolina Kolak: Ubezpieczeniowy Fundusz Gwarancyjny

Collegium of Economic Analysis Annals, 2015, issue 37, 73-98

Abstract: This paper presents theoretical and practical aspects of using credit data in insurance risk classification. The correlation between credit history and insurance losses is discussed, as well as its possible sources and methods of analysis. Furthermore, the literature on the subject is reviewed, with a focus on the results of empirical studies and practical implementations. Finally, the paper describes the setting of the research study conducted jointly by the Polish Insurance Guarantee Fund and Credit Information Bureau to identify the correlation between credit history and insurance losses in the Polish automobile insurance market. The results of the study indicate that the cooperation between insurers and banks in this field may be beneficial.

Keywords: insurance risk; risk classification; credit data; generalised linear models; automobile insurance (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:sgh:annals:i:37:y:2015:p:73-98

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