Asma Hamzeh; Mitra Ghanbarzadeh; Faezeh Banimostafaarab
Abstract
Usage-based Insurance (UBI) is an innovation that differs from traditional car insurance and seeks to distinguish between high-risk and low-risk drivers. The premium in this policy is calculated based on the distance traveled and telematics variables such as road type, time, speed, etc. This study measured ...
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Usage-based Insurance (UBI) is an innovation that differs from traditional car insurance and seeks to distinguish between high-risk and low-risk drivers. The premium in this policy is calculated based on the distance traveled and telematics variables such as road type, time, speed, etc. This study measured the UBI acceptance rate and the factors that influence it. Global surveys and expert opinions were used to design a questionnaire, which was then administered to 396 randomly selected respondents, meeting the requirements of Cochran's formula for indeterminate populations (at least 384). Multinomial and binary logistic regression models were employed to measure acceptance and the willingness to purchase UBI based on distance, as well as distance and driving behaviors. These investigations were carried out across five and three scenarios, respectively, considering value-added services, awareness levels, and the importance of factors. Finally, a confirmatory factor analysis model was utilized to validate the UBI acceptance model, with the indicators affirming its appropriateness. The findings suggest the need for plans to enhance the information and awareness levels of insurance policyholders regarding UBI. Additionally, variables such as providing warnings to policyholders to improve driving, policy price, awareness of UBI, awareness of providing UBIs by some insurance companies in Iran, and providing rewards/discounts are identified as influential in driving UBI purchases, warranting investment by insurance companies to boost sales.
Parissa Ghonji; Ghadir Mahdavi; Mitra Ghanbarzadeh
Abstract
Insurance companies regularly estimate loss reserves due to delays in settling claims. These delays depend on the time taken from claim filing to settlement. The study aims to estimate reported loss reserves through cross-sectional regression using cargo insurance market data. The model considers written ...
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Insurance companies regularly estimate loss reserves due to delays in settling claims. These delays depend on the time taken from claim filing to settlement. The study aims to estimate reported loss reserves through cross-sectional regression using cargo insurance market data. The model considers written premiums, paid claims, reinsurance issued premiums, inflation rates, and return on investment. The analysis demonstrates a nonsignificant negative association between inflation rates and loss reserves, as well as a negative correlation between paid claims and loss. While revealing a statistically significant positive relationship between written premiums and loss reserves.
