A Novel Set of Driving Style Risk Evaluation Index System for UBI-Based Differentiated Commercial Vehicle Insurance in China

摘要

Usage based insurance (UBI) for vehicles, or sometimes pay-how-you-drive (PHYD) as it is usually called, which fuses information and telecommunication technologies, can not only enhance the accuracy of underwriting, solve the severe homogeneity problem in vehicle insurance products for insurance companies, but can eliminate the cross-subsidies from vehicles of low risk to those of higher risk, as well. However, till now, researches of driving style evaluation method are mainly for fuel consumption control or to analyze road traffic conditions. It is hard to find reports on dedicated methods for UBI premium actuary purposes. Consider that China is a country which has a huge territory with different city landforms and traffic situations. There is an urgent requirement to establish a theory structure based on UBI implementations, and to establish a theory system for autonomous driving style evaluation methods. In this paper, a novel set of risk evaluation index systems of driving style for the UBI based differentiated commercial vehicle insurance for cities on the plains in China has been proposed. d via a real vehicle driving example analysis, the objectiveness and effectiveness the proposed dynamic driving evaluation index system has been proved.