TASK:

Model the number of claims and the cost per claim.

Name:

Canadian Automobile Insurance Claims for 1957-1958

Description:

The data give the Canadian automobile insurance experience for policy years 1956 and 1957 as of June 30, 1959. The data includes virtually every insurance company operating in Canada and was collated by the Statistical Agency (Canadian Underwriters' Association - Statistical Department) acting under instructions from the Superintendent of Insurance. The data given here is for private passenger automobile liability for non-farmers for all of Canada excluding Saskatchewan.

The variable Merit measures the number of years since the last claim on the policy. The variable Class is a collation of age, sex, use and marital status. The variables Insured and Premium are two measures of the risk exposure of the insurance companies.

Format:

- Merit
Merit Rating:
3 - licensed and accident free 3 or more years
2 - licensed and accident free 2 years
1 - licensed and accident free 1 year
0 - all others

- Class
1 - pleasure, no male operator under 25
2 - pleasure, non-principal male operator under 25
3 - business use
4 - unmarried owner or principal operator under 25
5 - married owner or principal operator under 25

- Insured
Earned car years

- Premium
Earned premium in 1000's (adjusted to what the premium would have been had all cars been written at 01 rates)

- Claims
Number of claims

- Cost
Total cost of the claim in 1000's of dollars

Source:

- Bailey, R. A., and Simon, LeRoy J. (1960). Two studies in automobile insurance ratemaking. ASTIN Bulletin, 192-217.