| تعداد نشریات | 63 |
| تعداد شمارهها | 2,268 |
| تعداد مقالات | 18,694 |
| تعداد مشاهده مقاله | 58,236,996 |
| تعداد دریافت فایل اصل مقاله | 29,909,138 |
Measuring the acceptance rate of Usage-Based Insurance (UBI) based on statistical methods (case study: Saman Insurance Company) | ||
| Journal of Mathematics and Modeling in Finance | ||
| دوره 4، شماره 1، مهر 2024، صفحه 37-55 اصل مقاله (337.61 K) | ||
| نوع مقاله: Research Article | ||
| شناسه دیجیتال (DOI): 10.22054/jmmf.2024.78086.1121 | ||
| نویسندگان | ||
| Asma Hamzeh* 1؛ Mitra Ghanbarzadeh2؛ Faezeh Banimostafaarab3 | ||
| 1Insurance Research Center, Tehran, Iran | ||
| 2Insurance Research Center, Tehran, Iran. | ||
| 3Department of Mathematics, Allameh Tabatabaei Univesity, Tehran, Iran | ||
| چکیده | ||
| 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. | ||
| کلیدواژهها | ||
| Usage-Based Insurance (UBI)؛ Confirmatory Factor Analysis (CFA)؛ Telematics؛ Multinomial Logistic Regression model؛ Binary Logistic Regression model | ||
| مراجع | ||
|
[1] D. Bikov , R. Kangro, H. Kitzmann, P. Lameski, A. Raffaele, & Z, Varbanov, Holon Technologies: Usage-based insurance, In: 151 European Study Group with Industry.Tartu, Estonia, (2019). [2] Cambridge Mobile Telematics, The Best-Connected Insurance Value Propositions for Europe, Cambridge Mobile Telematics, (2021). [3] B.A. Coetzer, Usage-based insurance: nudging towards responsible driving, Master’s thesis, Economic and Management Sciences at Stellenbosch University, (2022), 230 pages. [4] P. Desyllas, & M, Sako, Profiting from business model innovation: Evidence from PayAs-You-Drive, Research Policy, (2013), pp. 101-116. [5] S. Husnjak, D. Perakovi, I.Forenbacher, & M, Mumdziev, Telematics System in Usage Based Motor Insurance, Procedia Engineering, (2015), pp. 816-825. [6] Inaza, How usage-based insurance is reshaping the auto insurance market, inaza.com, (2023). [7] D. Karapiperis , B. Birnbaum, A. Brandenburg, & S.G. Castagna, Usage-based insurance and vehicle telematics: insurance market and regulatory implications, CIPR Study Series, (2015), pp. 1-79. [8] M. Khakifirooz, M. Fathi, J.Z. Wu, & K. Yu, The Key Factors to Promote the Pay-AsYou-Drive Insurance in Taiwan, Journal of Insurance Issues, (2021), 44(2), pp. 1-35. [9] K.J.A. Kumarage, Customer acceptance of usage-based motor insurance policies in Sri Lanka, Ph.D. Dissertation, University of Moratuwa, (2015), 116 pages. [10] H.J. Li, X.G. Luo, Z.L. Zhang, W. Jiang & S.W. Huang, Driving risk prevention in usage-based insurance services based on interpretable machine learning and telematics data, Decision Support Systems, (2023), p. 113985. [11] D. Lukens, 2016 usage-based insurance (UBI) research results for the U.S. consumer market, LexisNexis Risk Solutions, (2016). [12] Y.L. Ma, X. Zhu, X. Hu & Y.C. Chiu, The use of context-sensitive insurance telematics data in auto insurance rate making, Transportation Research Part A: Policy and Practice, (2018),113, pp. 243-258. [13] D.T Mai Julia, The impact of telematics on the motor insurance landscape and on customer behaviour in the case of Italy, Bachelor thesis, University of Zurich, (2017), 45 pages. [14] R. McMahon, & M.Carbone, Attractive UBI Business models for US Consumers , Cambridge Mobile Telematics IOTinsObs,(2020). [15] N. Milanovic, M. Milosavljevi, S. Benkovi, D. Starevi & Z. Spaseni, An acceptance approach for novel technologies in car insurance, Sustainability, (2020), 12(24), p. 10331. [16] J. Peng, N. Liu, H. Zhao & M. Yu, Usage-based insurance system based on carrier-cloudclient , In 2015 10th International Conference on Communications and Networking in China (ChinaCom) IEEE, (2015), pp. 579-584. [17] A.M. Perez-Mar ´ ´ın & M. Guillen, Semi-autonomous vehicles: Usage-based data evidences of what could be expected from eliminating speed limit violations , Accident Analysis & Prevention, (2019), 123, pp. 99-106. [18] J. Quintero, V. Karaseva, F. Gassmann, & Z. Benenson, User Acceptance Factors of Usage-Based Insurance. In Advances in Intelligent Traffic and Transportation Systems, IOS Press, (2023), pp. 137-147. [19] G. Rejikumar , A pre-launch exploration of customer acceptance of usage-based vehicle insurance policy, IIMB Management Review, (2013), 25(1) pp. 19-27. [20] D.T Mai Julia, A New model for usage-based insurance in order to increase road safety. , Ph.D. Dissertation, Sharif University of Technology. Iran, (2019), 135 pages. [21] M. Soleymanian, C.B. Weinberg, & T. Zhu , Sensor data and behavioral tracking: does usage-based auto insurance benefit drivers?, Marketing Science, (2017), 38(1) pp. 21-43. [22] A. Sliwinski, & L. Kurylowicz , Usage-based insurance and its acceptance: An empirical approach, Risk Management and Insurance Review, (2021), 24(1) pp. 71-91. [23] I.Stankevich, K. Korishchenko, N. Pilnik, & D. Petrova, Usage-based vehicle insurance: Driving style factors of accident probability and severity, Journal of Transportation Safety Security, (2022),14(10), pp. 1633-1654. [24] Statistics solutions, Confirmatory Factor Analysis,(2013). [25] X. Tian, V.R. Prybutok, F.H. Mirzaei, & C.C. Dinulescu, Millennials acceptance of insurance telematics: an integrative empirical study,Tian, Xiaoguang, (2020), pp. 156-181. [26] M. Yvell, & E. Axelsson, Implementation of Usage-Based Insurance solutions: A qualitative analysis of a technology-based insurance model from the perspective of the Swedish insurance industry, KTH, (2021). [27] M. Zand, A. Samimi, & K. Khavarian , Car Insurance Plans Could Make a Society Safer, Journal of Geoscience and Environment Protection, (2016), 4(12) pp. 22-36. | ||
|
آمار تعداد مشاهده مقاله: 957 تعداد دریافت فایل اصل مقاله: 805 |
||