Abstract
This chapter shows the possibility of introducing the usage-based insurance (UBI) for the sake of the individualisation of compulsory motor Third-Party liability insurance premiums with the aim of achieving the stability in Central and Eastern European markets and bringing them closer to the state of equilibrium. The chapter presents both the historical perspective of UBI development and the summary of the research carried out over the last decade. It is concerned with the advancement of UBI tariffs and the successful modification of the applicable pricing schemes as well as points to issues that may hinder the market launch of UBI. Finally, it shows that thanks to the usage-based insurance, the industry can minimise the negative effect information asymmetry has on the motor insurance market.
Keywords:
Motor insurance, Market equilibrium, Insurance telematics, Usage-based insurance (UBI)
Credits
| Authors | Śliwiński, Adam; Kuryłowicz, Łukasz |
| SGH Warsaw School of Economics | |
| Date | 2020 |
| Pages | 143-164 |
| Type | Chapter |
| DOI | 10.1007/978-3-030-32426-1_9 |
| ISBN | 978-3-030-32425-4 |
| How to cite | Sliwinski A., Kurylowicz L. (2020). The equilibrium on the motor insurance market in selected CEE countries. In: Sliwinski A., Polychronidou P., Karasavvoglou A. (eds) Economic Development and Financial Markets. Contributions to Economics. Springer, Cham. |
Full text
Full text is available at SpringerLink