Datasets for Statistical Analysis

Swedish third party car insurance

Keywords:

insurance, Poisson, gamma

Categories:

insurance, finance;
generalized linear model; Tweedie model

Description:

The data give details of third party motor insurance claims in Sweden for the year 1977.

Variables:

Kilometres	Kilometres travelled per year: 1: less than 1000 2: from 1000 to 15 000 3: 15 000 to 20 000 4: 20 000 to 25 000 5: more than 25 000
Zone	Geographical zone: 1: Stockholm, Göteborg, Malmö with surroundings 2: Other large cities with surroundings 3: Smaller cities with surroundings in southern Sweden 4: Rural areas in southern Sweden 5: Smaller cities with surroundings in northern Sweden 6: Rural areas in northern Sweden 7: Gotland
Bonus	No claims bonus. Equal to the number of years, plus one, since last claim
Make	1-8 represent eight different common car models. All other models are combined in class 9
Insured	Number of insured in policy-years
Claims	Number of claims
Payment	Total value of payments in Skr

Data Quality:

There are no missing values.

Source:

OzDASL The data was obtained electronically from the Statlib database by Dr Gordon Smyth for OzDASL.

Notes:

"In Sweden all motor insurance companies apply identical risk arguments to classify customers, and thus their portfolios and their claims statistics can be combined. The data were compiled by a Swedish Committee on the Analysis of Risk Premium in Motor Insurance. The Committee was asked to look into the problem of analyzing the real influence on claims of the risk arguments and to compare this structure with the actual tariff."

Make 4 is the Volkswagen 1200, which was discontinued shortly after 1977. The other makes could not be identified because of the potential for the data to impact on sales of those cars.

For this data, the number of claims has a Poisson distribution, and the amount of each claim follows a gamma distribution very nicely. The total claim has a Tweedie distribution.

References:

• Hallin, M., and Ingenbleek, J.-F. (1983). The Swedish automobile portfolio in 1977. A statistical study. Scandinavian Actuarial Journal, 49-64. The actual data are not listed in this paper.
• Andrews, D. F., and Herzberg, A. M. (1985). Data. A collection of problems from many fields for the student and reseach worker. Springer, New York, pages 413-421. Only the data from Zone 1 are listed.