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Open Access

Ratemaking Model of Usage Based Insurance Based on Driving Behaviors Classification

Zhishuo Liu1( ), Mengjun Hao1, Fang Tian2
School of Traffic and Transportation, Beijing Jiaotong University, Beijing 100091, China
Business Administration Division, Seaver College, Pepperdine University, Malibu, CA 90263, USA
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Abstract

Based on the present situation of usage based insurance (UBI) research and application, this paper puts forward the UBI rating model based on driving behavior classification, and applies the technology of data mining to the evaluation of driving behavior. The actual driving behavior data and the risk data of 400 drivers are used as experimental data. Finally, an example shows that the driving behavior classification model is superior to the driving behavior score model for the identification of accident risk, which can make UBI rate more scientific and reasonable.

Keywords

vehicle insurance ratesusage based insurance (UBI)telematicsdriving behaviorsclassification algorithm

References

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International Journal of Crowd Science
Volume 6 Issue 2,
June 2022
Pages 98-109
DOI: 10.26599/IJCS.2022.9100012
Cite this article:
Liu Z, Hao M, Tian F. Ratemaking Model of Usage Based Insurance Based on Driving Behaviors Classification. International Journal of Crowd Science, 2022, 6(2): 98-109. https://doi.org/10.26599/IJCS.2022.9100012

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Received: 15 March 2022
Revised: 15 April 2022
Accepted: 18 April 2022
Published: 30 June 2022
© The author(s) 2022

The articles published in this open access journal are distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/).
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