Aspects Regarding the Decision on Insuring Auto Fleets Belonging to Commercial Companies
Journal Title: RECENT - Year 2012, Vol 13, Issue 36
Abstract
The decisions that an insurance company has to make regarding the insurance of auto fleets belonging to various companies are decisions taken in conditions of uncertainty and risk. This paper presents the use of Bayes decision procedures in the case of such choices. These procedures include the Bayes decision procedure with no experimentation and initial probabilities as well as the Bayes decision procedures with experimentation and conditioned and post probabilities. The paper also presents a numerical application in which it is shown how an insurance company can evaluate, using these procedures, an insurance request against theft and damage for an auto fleet of an industrial production company.
Authors and Affiliations
Florin OLTEANU, Gavrilă CALEFARIU, Flavius SÂRBU
Keywords
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