Ratemaking

Experience rating in insurance uses a Bayesian credibility model to upgrade the current premiums of a contract by taking into account policyholders' attributes and their claim history. Most data-driven models used for this task are mathematically …

Abstract In the underwriting and pricing of nonlife insurance products, it is essential for the insurer to utilize both policyholder information and claim history to ensure profitability and proper risk management. In this paper, we apply a flexible …