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Wednesday, August 4 • 9:00am - 10:30am
6D1 Number of claims and number of near-misses for telematics pricing in automobile insurance

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Mintserrat Guillen, Universität de Barcelona; Ana Perez-Marin, Universität de Barcelona; Jens Nielsen, City University of London

We present a method to integrate telematics data in a pay-how-you-drive insurance pricing scheme that penalizes near-miss events. We illustrate our method with a sample of drivers for whom information on near-miss events and claims frequency records are available. We discuss the implications for motor insurance ratemaking. Our pricing principle is to combine a baseline insurance premium with added extra charges for near-miss events indicating risky driving (or discounts) that can be updated on a weekly basis. This procedure provides an incentive for safe driving. In our real-case study, hard-braking and acceleration events as well as smartphone use while driving increase the cost of insurance.


Tong Yu

University of Cincinnati

avatar for Montserrat Guillen

Montserrat Guillen

Universitat de Barcelona

Wednesday August 4, 2021 9:00am - 10:30am EDT