NDLI: Variable insurance premium for safer driving: A survey result

Content Provider	IEEE Xplore Digital Library
Author	Knoop, V.L. Hao Li van Arem, B.
Copyright Year	2011
Description	Author affiliation: Tongji University, Shanghai, China (Hao Li) \|\| Delft University of Technology (Transport and Planning; Stevinweg 1, 2628 CN Delft, The Netherlands) (Knoop, V.L.; van Arem, B.)
Abstract	Driving involves a risk of having accidents, of which insurance companies cover the financial consequences. They would prefer their customers to drive safer. A survey was carried out to study drivers' reactions on variable insurance premiums. An in-car device would record the driving behaviour and send an aggregated report, calculating the reward based on total distance, distance less in risky conditions (nighttime, speeding) or environments (urban, extraurban). According to the survey, 27% of the drivers is willing to change to an insurance with a variable rate, and that this hardly depends on the final reward, but it depends more the driver himself. Approximately 25% indicates to change the driving behaviour due to the variable premium. Finally, drivers are not simply choosing the cheapest insurance, but value some elements (e.g., reward for total mileage) more than others (e.g., reward for urban mileage).
Starting Page	439
Ending Page	444
File Size	313759
Page Count	6
File Format	PDF
ISBN	9781457721984
ISSN	21530009
e-ISBN	9781457721977
DOI	10.1109/ITSC.2011.6082898
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2011-10-05
Publisher Place	USA
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Insurance Sensitivity Vehicles Roads Drives Encoding Mathematical model
Content Type	Text
Resource Type	Article

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