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Experience Rating with Credibility Adjustment of the Manual Premium
1974
ASTIN Bulletin: The Journal of the International Actuarial Association
AbstractA common procedure for experience rating is to use Whitney's credibility formula with the manual premium per risk unit estimated by the observed average claim amount per risk unit. As pointed out by Whitney himself, this observed average also needs to be subjected to credibility adjustment. This suggestion is pursued in the paper and an experience rating procedure developed in which there are two stages:(i) revision of the prior expected manual premium in accordance with the observed
doi:10.1017/s0515036100006139
fatcat:jh75453exrhshnehsxuhowccf4