Research On Vehicle Risk And Insurance Pricing Model Based On Multi-source Data

With the implementation of the commercial insurance market reform in China,the application of information technology is mature in premium rate.Because the original car insurance rates set are lack of innovation and risk management is inadequate,insurance products have been difficult to meet the needs of the development of insurance industry market.The car insurance rate of product differentiation,personalization and innovation has become the main stream of the development of insurance industry.The commercial car insurance and car insurance market has reformed in China in 2015,the new commercial car insurance rates set pattern and method.For the society,providing more and better car insurance in respect of products and services,insurance companies have added to the car insurance rates set research and development.New commercial terms of car insurance rate reform that is to protect consumers’ legitimate rights and interests as the basic principle,has the following characteristics: first,through establishing the terms of the marketization of rate formation mechanism,broadening the coverage rate,expanding consumer choice,promote the fair and other means to enhance customer satisfaction;second,through better playing "retiring" rewards and punishment mechanism,automobile industry chain,change a better service to the society management;third,by changing the competition pattern and activating market,we could construct the new market competition pattern and ecological environment.New technology environment provides conditions to realize commercial auto insurance rates for reform.From the point of view of technology development,the internet,the advent of the era of big data for China’s financial industry caused by the change of revolutionary,subversive,proposed the new challenge in insurance data control ability,because the insurance industry provides an unprecedented big development space and potential.At present,along with the digital data content after penetrating into the various areas of industry society,based on multi-source data collection,analysis,storage,sharing,will boost vehicle insurance industry into the era of big data in advance.In the developed insurance industry of Europe and the car insurance market,insurance companies associate car insurance with real-time data such as road conditions,driving behavior is analyzed and applied to the insurance industry to get rid of a brutal price competition to better adapt to market challenges.The insurance industry of China,with car insurance rate marketization trail,the premium rate making advantage,how to play to avoid vicious price competition is the industry with the common challenges faced by the insurance company,as well as to research and develop the channels of multi-source data collection,analysis,differentiation of auto insurance products and services innovation laid a solid foundation.The core content of this article is from multi-source data under the risk analysis of vehicle insurance pricing research,which will help the recognition of premium rate to make new car insurance risk factors further,optimize the existing vehicle insurance pricing model and promote the rational allocation and utilization of limited resources,but also for the study of vehicle insurance pricing system of other institutions to provide reference.This research bases on the Ministry of Education humanities and social science projects "based on the data of vehicle research on risk analysis and pricing model(No.14JJD790013)" and the Central University of Finance and Economics Ph.D innovation fund project "the vehicle risk model based on big data research(No.201418)".This paper main research contents are the following several aspects:1.Based on multi-source data of vehicle identification of risk factors.China’s auto insurance rates set the method and model are discussed in detail,this paper found out the problems in the domestic current situation of the auto insurance rates set,and combined with the current rate is determined in the process of insufficient research framework of this paper is presented.And on this basis from multi-source data channel associated with car insurance rates set has not into the pricing model of risk factors.This article through to the vehicle between risk factors and traffic accident with the method of the quantitative analysis,further verify the identification of risk factors and the relationship between the traffic accidents.Compared to traditional auto insurance rates set is given priority to with vehicle risk factors,this paper considers more source drivers of risk factors,the research results will be more in line with the objective facts of causing a traffic accident.2.Vehicle traffic accident risk score model research.First of all,this part through the analysis of basic factors affect driving safety,build the driving behavior evaluation index system.Secondly,using the entropy weight combined with hierarchical analysis method to determine the index weight,based on driving behavior scoring model is established.Finally,through empirical study,the results show that this paper constructs the vehicle traffic accident risk scoring model can more accurately reflect the drivers and the risk level of the existing vehicles.3.Car insurance pricing model under multiple source data optimization research.This section in the original motor car loss danger risk pricing model with more "risk factor" human factors,in addition to driving behavior score associated with car insurance rate between establishing hook linkage,the car insurance premium rate adjustment coefficient is given.The results from the empirical analysis of the data show that the new car insurance rates set more scientific and reasonable way.This paper provides a new thought to explore the market of commercial motor vehicle insurance companies,in the study of vehicle risk factor analysis,changing the original single data sources,using "big data" way of thinking to broaden the scope of data information to be obtained.In the original pricing model based on data from more than one source channel further to join from the drivers of accident risk factors,optimize the car insurance after the adjustment fair of premium rate making method can realize auto insurance rates,personalization and differentiation and its higher application value.