Automobile Insurance Claims
Claims experience from a large midwestern (US) property and casualty insurer for private passenger automobile insurance. The dependent variable is the amount paid on a closed claim, in (US) dollars (claims that were not closed by year end are handled separately). Insurers categorize policyholders according to a risk classification system. This insurer's risk classification system is based on automobile operator characteristics and vehicle characteristics, and these factors are summarized by the risk class categorical variable CLASS.
A data frame with 6773 observations on the following 5 variables.
Codes 01 to 17 used, with each code randomly assigned to an actual individual state, a factor with levels
Rating class of operator, based on age, gender, marital status, use of vehicle, a factor with levels
a factor with levels
Age of operator, a numeric vector
Amount paid to settle and close a claim, a numeric vector
Frees E.W. (2010), Regression Modeling with Actuarial and Financial Applications, Cambridge University Press.