Citation

Bian Y, Yang C, Zhao JL, Liang L. Transp. Res. A Policy Pract. 2018; 107: 20-34.

Copyright

(Copyright © 2018, Elsevier Publishing)

DOI

10.1016/j.tra.2017.10.018

PMID

unavailable

Abstract

Usage-based insurance (UBI) has been attracting more and more attention; however, two open research questions are how behavioral data of drivers affects driving risk and how driver behavior should affect UBI pricing schemas. This paper proposes a driver risk classification model to evaluate the risk level of drivers based on in-car sensor data. A Behavior-centric Vehicle Insurance Pricing model (BVIP) and a vehicle premium calculation prototype are developed in this paper. Based on empirical data, our research results show that BVIP achieves better accuracy in terms of risk-level classification and the prototype achieves good performance in terms of effectiveness and usability.

Language: en

Keywords

Behavior-centric vehicle insurance pricing; Driver risk-level classification; Driving behavior; Usage-based insurance