Research On Premium Determination Of Green Car Insurance Based On Generalizcd Linear Model

Since the insurance industry resumed operations,the share of auto insurance premiums in non-life insurance companies has been high.In 2019,motor vehicle insurance premiums reached 81 8.8 billion yuan,accounting for 62.9%of the original premium income of property insurance companies.Therefore,auto insurance The profitability of the company plays a vital role in the profit of non-life insurance companies.The profitability of auto insurance depends on the rationality of the determination of the rates of auto insurance products and the effectiveness of the risk control of the underwriting target.China began pilot reform of commercial auto insurance rates in June 2015,expanding the independent pricing power of insurance companies,emphasizing the improvement Insurance companies' risk identification and management capabilities encourage insurance companies to innovate on products and services,and determine rates more scientifically and finely.With the development of the automotive industry and related policies on environmental protection,the development of new energy vehicles has brought significant opportunities and challenges to the automotive and auto insurance markets.Since 2014,the proportion of green vehicles have all steadily increased in new car sales,market penetration,and ownership growth,and their development prospects are very optimistic under the background of positive policies,technologies,and markets.Because of the hysteresis in the market,major property and casualty insurance companies do not have exclusive insurance types and rate factors for new energy vehicles yet.The rate influenced factors(such as exhaust volume)and insurance types(such as engine-related water insurance)of traditional automobile insurance are no longer applicable to green car.Research the exclusive factors of green vehicles(such as mileage,ratio of slow charge to fast charge,drive method,etc.)The impact on the frequency and intensity of claims is the key to making the rates of new energy vehicles more reasonable.This article first reads and combs the current auto insurance rate factor,pure premium determination model and related documents of green vehicles.Second,based on the green vehicle underwriting and claims data of a large property insurance company in Shandong from 2014 to 2019,September.It integrates traditional rates.Factors and new energy exclusive rate factors are used to classify risks,and the generalized linear model is used to estimate the claim frequency and claim intensity of each risk category,and calculate the pure premium based on this.The study found that the type of green vehicles,range,ratio of slow charge to fast charge,and driving method all have significant effects on the frequency of claims and the intensity of claims,and the greater the ratio of slow charge to fast charge,the higher the claim strength.Finally,the relevant suggestions for the development of the green car insurance are proposed,including the government,car dealers and insurance companies to jointly establish a database of new energy automobile insurance,which enriches the static and dynamic rate factors;the mileage insurance auto insurance scheme is more suitable for green car's current development status,etc.The innovation of this paper lies in:first of all,in the selection of materials,new energy vehicles have huge development prospects and also have a positive impact on environmental protection.As the future trend of the automotive industry,insurance as the after-market,research and development of the green car insurance is necessary and important.The topic selection in this article is relatively forward-looking and innovative.Theoretical research on the determination of exclusive rates for new energy auto insurance can respond to national environmental protection policies and lay the foundation for the development of new energy vehicles.Secondly,in terms of factors,this paper first proposed the rate factor of the ratio of slow charge to fast charge,and through empirical research,the greater the proportion,the higher the claim strength.Finally,in terms of data,the data in the empirical part of this article are underwriting and claims data in recent years.The newer data can more accurately reflect the current situation,predict the future trend,and have more reference value.