BONUS-MALUS PREMIUM WITH A FREQUENCY AND A SEVERITY COMPONENT USING THE BAYESIAN METHOD
Bonus-Malus System (BMS) is a widely system used in the industry of vehicle industry. This system assesses claim behavior as a consideration in determining premiums. BMS only reviews the frequency component of claims but can lead to unfairness because small-size claims is facing the same premium inc...
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| Format: | Final Project |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/77052 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |