Calculation of flatrated fleets in the commercial motor business on the basis of the credibility app

Calculation of flatrated fleets in the commercial motor business on the basis of the credibility app

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Speaker(s): Michael Klamser (Allianz Versicherungs AG)

The Paper, mentioned above, is aiming at an audience of practitioners in the motor commercial business, who are interested in getting to know a possible application of the calculation of big (so-called "flatrated") fleets so as to steer this segment with a notoriously bad margin towards more profitability.

It should be underlined that the author does not envisage a deeper (actuarial) approach to the Generalized Linear Model or the Credibility Approach themselves, though the "philosophy" of the latter will be presented in short. The stress will be clearly put on the practical side (e. g. the problems which arise for the underwriters in the acquisition process by deviating from a pure burning-cost-approach and possible solutions for this). In addition, methods to determine the adequacy of the technical price would also be presented.

The paper respectively the presentation would include the following topics:

  1.  A short presentation of the "flatrated-fleets-landscape" (model-wise) at Allianz Company.
  2.  The motivation to create a new calculation tool for flatrated fleets in 2009 on the basis of the credibility approach (the "big bang").
  3. The different elements and structure for the calculation of the technical price (e. g. experience premium,Tariff components and structure).
  4. Different analysis approaches to determine the adequacy of the technical price (e. g. Impact Analysis, cross-subsidies).
  5. The evolution of the calculation tool from 2009 till today.
  6. Problems for the underwriters in selling the technical price to the broker/client and possible solutions to alleviate the ensuing friction between these stakeholders.
  7. A presentation of the main components of the calculation tool.

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