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A car insurance gives financial compensation to a policy holder, due to damage and/or loss of his/her car, according to a contract signed by both the car insurance company and the policy holder. For this purpose, the policy holder needs to pay an amount of money called premium. The amount of premium...
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| Main Author: | |
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| Format: | Final Project |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/9761 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | A car insurance gives financial compensation to a policy holder, due to damage and/or loss of his/her car, according to a contract signed by both the car insurance company and the policy holder. For this purpose, the policy holder needs to pay an amount of money called premium. The amount of premium charged to a policy holder is determined by the amount of the pure premium and a loading factor. In this final project, an aggregate loss data of an "all risk”" type of risks, from a particular car insurance company, is analyzed to determine the pure premium. The aggregate loss data is modeled by a compound distribution model. For this purpose, the claim number and claim amount are each modeled by an appropriate probability model. The result of this final project showed that the claim number is modeled by a Poisson distribution and the claim amount is modeled by a Lognormal distribution. Hence, the aggregate loss data is modeled by a compound Poisson-Lognormal distribution. Furthermore, the estimate of the pure premium is Rp 286,000.00; and the estimate of the standard deviation of the aggregate loss data is Rp 1,800,000.00. <br />
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