Insurance Rates With Minimum Bias

The paper presents specific methods for obtaining insurance rates that are as accurate as possible for each class and territory and so on. Many of the techniques presented in the paper are already in use by the various bureaus and other ratemakers in one form or another. With the increasing use of electronic computers, there is the opportunity to use them in new ways to improve the accuracy of our ratemaking methods and to reduce the vast mass of statistical detail down to a meaningful set of answers. The methods in this paper are methods that we have used to analyze some of the data in our company. Class Rating