scholarly journals Modeling the Frequency and Severity of Auto Insurance Claims Using Statistical Distributions

2018 ◽  
Vol 08 (01) ◽  
pp. 137-160 ◽  
Author(s):  
Cyprian Ondieki Omari ◽  
Shalyne Gathoni Nyambura ◽  
Joan Martha Wairimu Mwangi
Keyword(s):  
Statistical Distributions ◽  
Insurance Claims ◽  
Auto Insurance

Using claims prediction model for road safety evaluation

2001 ◽  
Vol 28 (5) ◽  
pp. 804-812 ◽  
Author(s):  
Paul de Leur ◽  
Tarek Sayed
Keyword(s):  
Prediction Model ◽  
Road Safety ◽  
Claims Data ◽  
Safety Evaluation ◽  
Safety Analysis ◽  
Insurance Claims ◽  
Insurance Claim ◽  
Auto Insurance ◽  
Improvement Programs ◽  
Traffic Collision

Road safety analysis is typically undertaken using traffic collision data. However, the collision data often suffer from quality and reliability problems. These problems can inhibit the ability of road safety engineers to evaluate and analyze road safety performance. An alternate source of data that characterize the events of a traffic collision is the records that become available from an auto insurance claim. In settling an auto insurance claim, a claim adjuster must make an assessment and determination of the circumstances of the event, recording important contributing factors that led to the crash occurrence. As such, there is an opportunity to access and use the claims data in road safety engineering analysis. This paper presents the results of an initial attempt to use auto insurance claims records in road safety evaluation by developing and applying a claim prediction model. The prediction model will provide an estimate of the number of auto insurance claims that can be expected at signalized intersections in the Vancouver area of British Columbia, Canada. A discussion of the usefulness and application of the claim prediction model will be provided together with a recommendation on how the claims data could be utilized in the future.Key words: road safety improvement programs, auto insurance claims, road safety analysis, prediction models.

scholarly journals Blockchain for automotive: An insight towards the IPFS blockchain-based auto insurance sector

2021 ◽  
Vol 11 (3) ◽  
pp. 2443
Author(s):  
Nishara Nizamuddin ◽  
Ahed Abugabah
Keyword(s):  
Automotive Industry ◽  
Industrial Revolution ◽  
New Technologies ◽  
Insurance Company ◽  
Insurance Claims ◽  
Auto Insurance ◽  
Insurance Sector ◽  
The Past ◽  
Disruptive Innovations ◽  
New Policies

The advancing technology and industrial revolution have taken the automotive industry by storm in recent times. The auto sector’s constantly growing demand has paved the way for the automobile sector to embrace new technologies and disruptive innovations. The multi-trillion dollar, complex auto insurance sector is still stuck in the regulations of the past. Most of the customers still contact the insurance company by phone to buy new policies and process existing insurance claims. The customers still face the risk of fraudulent online brokers, as policies are mostly signed and processed on papers which often require human supervision, with a risk of error. The insurance sector faces a threat of failure due to losing and misconception of policies and information. We present a decentralized IPFS and blockchain-based framework for the auto insurance sector that regulates the activities in terms of insurance claims for automobiles and automates payments. This article also discusses how blockchain technology’s features can be useful for the decentralized autonomous vehicle’s ecosystem.

scholarly journals Damage ratios for domestic property in the magnitude 7.2 1968 Inangahua, New Zealand, earthquake

2001 ◽  
Vol 34 (3) ◽  
pp. 191-213 ◽  
Author(s):  
D.J. Dowrick ◽  
D.A. Rhoades ◽  
P.N. Davenport
Keyword(s):  
New Zealand ◽  
Statistical Distributions ◽  
Insurance Claims ◽  
Mean Values ◽  
Damage Costs ◽  
May 1968 ◽  
First Time ◽  
Relative Vulnerability

An analysis of damage costs to domestic property in the Mw 7.2 Inangahua, New Zealand, earthquake of 23 May 1968 (U.T.) has allowed the evaluation of the vulnerability of domestic property for six intensity zones, from MM5 - MM10 inclusive. For no other earthquake worldwide has the vulnerability of any class of property been examined in so many intensity zones, and the effect of brittle chimneys on damage levels has been fully evaluated for the first time. The relative vulnerability of one and two storey houses has also been evaluated. The costs of damage were derived from about 8,000 insurance claims to the Earthquake and War Damage Commission. Damage ratios were evaluated for houses and their contents as functions of Modified Mercalli intensity. The indicators of vulnerability that were determined were the statistical distributions and mean values of damage ratios and the percentage of property items damaged for the six intensity zones. Comparisons have also been made with results from studies of other earthquakes.

scholarly journals Damage ratios for low-rise non-domestic brick buildings in the magnitude 7.1 Wairarapa, New Zealand, earthquake of 24 June 1942

2002 ◽  
Vol 35 (3) ◽  
pp. 135-148 ◽  
Author(s):  
D.J. Dowrick ◽  
D.A. Rhoades
Keyword(s):  
New Zealand ◽  
Local Government ◽  
Statistical Distributions ◽  
Insurance Claims ◽  
Material Quality ◽  
Mean Values ◽  
Damage Costs ◽  
Government Records ◽  
First Time

An analysis of damage costs to low-rise non-domestic brick buildings in the MM8 intensity zone of the Mw 7.1 Wairarapa earthquake of 24 June 1942 has evaluated the vulnerability of such buildings in New Zealand for the first time. The buildings studied were mostly of unreinforced brick of average workmanship and material quality, i.e. the second most vulnerable class of New Zealand buildings. Approximate vulnerabilities were also determined for partly reinforced and partly retrofitted buildings, and for one and two-storey buildings. The costs of damage were derived from insurance claims and local government records. The indicators of vulnerability that were determined were the statistical distributions and mean values of damage ratios, and the percentage of buildings damaged. Comparisons have also been made with results from studies of other earthquakes.

scholarly journals Modelling auto insurance claims in Singapore

2017 ◽  
Vol 18 (2) ◽  
pp. 105
Author(s):  
Yogita S. Wagh ◽  
Kirtee K. Kamalja
Keyword(s):  
Insurance Claims ◽  
Auto Insurance
Sign in / Sign up

Export Citation Format

Share Document