PREMIUM DETERMINATION OF VEHICLE INSURANCE USING BONUSMALUS SYSTEM

Abstract

This Thesis discusses the premium of non-life insurance for vehicle using BonusMalus System. The calculation of this premium based on the history of the policyholder. From the policyholder point of view, premium has been discussed is fair, because the payment on the extension of policy proportional to the estimated frequency of the claim. Meanwhile, from the company point of view, there will be a financial balance. Premium calculated based on the Bayes Theorem. The result of this Final Test concluded that the more frequent accidents occur, the higher the premiums imposed on policyholders for the next period premium payment. While the premium always decreases if there are no accidents that occur in each period of coverage.