Appendix A: 1998 survey of proprietory risk assessment systems

Document description

In its 1997 paper, the working party reported upon a survey of proprietary risk assessment systems designed for use by UK household insurers and marketed by five different systems vendors. The purpose of this survey was to obtain information regarding the scope and nature of the data underlying these systems and, in particular, the level of geographic detail to which results obtained from the systems might prove reliable for premium rating purposes. The survey has now been updated to allow for any changes to the systems that have been made since the earlier paper. This survey is in no way intended to assist in any decisions concerning which system or systems might be appropriate for use by any individual insurance company. Pricing actuaries, and others, considering purchasing a proprietary risk assessment system should satisfy themselves of its specification by contacting the system vendor. It should also be noted that: The information presented in the following tables has been provided, in its entirety, by the system vendors. No attempt has been made by the working party to validate the information obtained.