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-  2016 

Linear Mixed Models for Panel Data and Their Applications in Auto Insurance Rate-making

Keywords: 面板数据 费率厘定 车险 费率市场化
Panel data Linear Mixed Model Vehicle insurance Rate-making marketization

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Linear mixed models for panel data and their applications in auto insurance pricing are discussed. Actuaries can use linear mixed models on panel data for credibility rate-making purposes. Using panel data (2008-2012) from 31 provinces, municipalities or autonomous regions of China for an empirical analysis, the present paper studies the long-term equilibrium between the average losses of traffic accident of each time, frequencies of accidents and per capita GDP, population density, the quantity of civilian vehicles by using the panel data model. The average losses of traffic accident of each time and the frequencies of accidents are selected as measures of net premium. The conclusions of this paper provide with theoretical support and reference for vehicle insurance rate-making marketization.


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