Case
How to automate the calculation of the insurance bonus? Solution is customer scoring.
Problem
Potential the insurance premium amount consists of 3 main parts:
- theft risk premium
- total risk premium
- damage risk premium
The amount of the damage risk premium is calculated based on the average premium for the brand/model (determined on the basis of the average expenses of the insurance company on indemnification of losses for the respective vehicle) and the “accident risk factor”, which is determined individually for each insurance policy taking into account the peculiarities of the vehicle and its drivers.
Solution
Calculation of individual level of accident risk (accident risk factor) on the basis of vehicle data, owners’ history, accident history of the vehicle, fines, owners’ data, etc.
