團體保險的訂價

Pricing Group Life and Health Insurance

本文從被保險團體與保險公司之間的議價能力與資訊不對稱等角度，來分析保險公司對團體保險的訂價，並以損失率做為因變數，檢驗其與被保險團體的規模、被保險團體的平均年齡、是否為保險公司預先組合承保項目的專案件、是否允許家屬納保、團體中老幼的人數、被保險團體是否為集團成員、通路來源、區域等因素的關係。實證結果顯示議價能力對團體保險的損失率有顯著的影響，而且從家屬納保與專案件均與損失率呈顯著正相關來看，保險公司並未克服其與被保險團體之間的資訊不對稱問題。最後，雖然有許多團體特性並非觀察不到，例如團體的平均年齡，但這些因素仍顯著影響損失率，換言之，保險公司未必能透過經驗費率將團體的所有特性都反應在保險費中。

This paper examines the pricing determinants of group life and health insurance. In particular, we investigates whether the relative bargaining power and information asymmetry between insured group and insurer affect the pricing. We then regress group loss ratio defined as losses over premiums on a number of characteristics of insured groups. The empirical results suggest that relative bargaining power and information asymmetry between insured groups and insurers significantly affect group insurance pricing. In addition, even under experience rating, insurers can't incorporate all known information into their pricing of group insurance.