THE EFFICIENCY OF BONUS MALUS SYSTEM IN MALAYSIA, SINGAPORE, HONG KONG, TAIWAN, DAN JAPAN
Many businesses are competing for the attention of potential policyholders as awareness of insurance ownership grows. A method is to publish premium rules that include a bonus-malus system. If policyholders do not submit a claim, they will receive a bonus (discount), and if they do, they will receiv...
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| Format: | Final Project |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/77877 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | Many businesses are competing for the attention of potential policyholders as awareness of insurance ownership grows. A method is to publish premium rules that include a bonus-malus system. If policyholders do not submit a claim, they will receive a bonus (discount), and if they do, they will receive a malus (penalty). Both insurance firms and policyholders may gain from or perhaps suffer harm from this rule. By measuring the effectiveness of each system, this impact may then be calculated. In this thesis, we will go over the Markov chain-based efficiency analysis of Loimaranta from the bonus malus systems of Malaysia, Hong Kong, Singapore, Taiwan, and Japan. Furthermore, this Final Project examines the impact of adjustments to transition rules, the number of premium classes, and adjustments to the percentage. |
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