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Grant support

This research was funded by Universidad Francisco de Vitoria under the project titled Business analytics, geolocalizacion y modelizacion espacial en el sector financiero y asegurador (Research project funding 2021) and Mariano Matilla-Garcia was funded by the Ministerio de Ciencia e Innovacion under grant PID2019-107192GB-I00.

Analysis of institutional authors

Victoria Rivas-Lopez, MariaCorresponding Author

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June 30, 2023
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Contributions from Spatial Models to Non-Life Insurance Pricing: An Empirical Application to Water Damage Risk

Publicated to:Mathematics. 9 (19): 2476-e2476 - 2021-10-01 9(19), DOI: 10.3390/math9192476

Authors: Victoria Rivas-Lopez, Maria; Minguez-Salido, Roman; Matilla Garcia, Mariano; Echeverria Rey, Alejandro

Affiliations

Univ Castilla La Mancha, Dept Publ Econ Stat & Econ Policy, Ave Los Alfares 44, Cuenca 16071, Spain - Author
Univ Francisco de Vitoria, Escuela Politecn Super, Madrid 28223, Spain - Author
Univ Int Villanueva, Business Adm Dept, Madrid 28034, Spain - Author
Univ Nacl Educ Distancia UNED, Fac Econ & Empresariales, Madrid 28050, Spain - Author
Univ Nacl Educ Distancia UNED, Int Doctorate Econ, Madrid 28050, Spain - Author
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Abstract

This paper explores the application of spatial models to non-life insurance data focused on the multi-risk home insurance branch. In the pricing modelling and rating process, spatial information should be considered by actuaries and insurance managers because frequencies and claim sizes may vary by region and the premium should be different considering this rating variable. In addition, it is relevant to examine the spatial dependence due to the fact that the frequency of claims in neighbouring regions is often expected to be more closely related than those in regions far from each other. In this paper, a comparison between spatial models, such as spatial autoregressive models (SAR), the spatial error model (SEM), and the spatial Durbin model (SDM), and a non-spatial model has been developed. The data used for this analysis are for a home insurance portfolio located in Spain, from which we have selected peril of water coverage.

Keywords

Actuarial modelsClaimsHome insurance dataSeveritySpatial autorregresive modelWater coverage

Quality index

Bibliometric impact. Analysis of the contribution and dissemination channel

The work has been published in the journal Mathematics due to its progression and the good impact it has achieved in recent years, according to the agency WoS (JCR), it has become a reference in its field. In the year of publication of the work, 2021, it was in position 21/333, thus managing to position itself as a Q1 (Primer Cuartil), in the category Mathematics. Notably, the journal is positioned above the 90th percentile.

Independientemente del impacto esperado determinado por el canal de difusión, es importante destacar el impacto real observado de la propia aportación.

Según las diferentes agencias de indexación, el número de citas acumuladas por esta publicación hasta la fecha 2025-08-07:

  • WoS: 1
  • Scopus: 2

Impact and social visibility

From the perspective of influence or social adoption, and based on metrics associated with mentions and interactions provided by agencies specializing in calculating the so-called "Alternative or Social Metrics," we can highlight as of 2025-08-07:

  • The use of this contribution in bookmarks, code forks, additions to favorite lists for recurrent reading, as well as general views, indicates that someone is using the publication as a basis for their current work. This may be a notable indicator of future more formal and academic citations. This claim is supported by the result of the "Capture" indicator, which yields a total of: 7 (PlumX).

It is essential to present evidence supporting full alignment with institutional principles and guidelines on Open Science and the Conservation and Dissemination of Intellectual Heritage. A clear example of this is:

  • The work has been submitted to a journal whose editorial policy allows open Open Access publication.

Leadership analysis of institutional authors

There is a significant leadership presence as some of the institution’s authors appear as the first or last signer, detailed as follows: First Author (RIVAS LOPEZ, MARIA VICTORIA) .

the author responsible for correspondence tasks has been RIVAS LOPEZ, MARIA VICTORIA.