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This research aims to develop a robust methodology for motor insurance pricing in small markets, specifically Bosnia and Herzegovina.

August 2, 2026SosyoekonomiOpen Access

Risk Assessment in Motor Insurance Using Generalised Linear Models in Small Markets: The Case of Bosnia and Herzegovina

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This research aims to develop a robust methodology for motor insurance pricing in small markets, specifically Bosnia and Herzegovina.
Applied Generalised Linear Models (GLMs) to analyze a dataset from 2011-2023.
Focused on policyholder and vehicle risk factors that influence claim frequency and severity.
Compared findings with existing market tariffs to assess pricing adequacy.
Current premiums are generally underpriced compared to analytical estimates.
Demonstrated that GLMs provide a statistically reliable framework for pricing accuracy improvements.
Offers actionable insights for strengthening actuarial practices in the insurance sector.

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Randomized trial demonstrates improved pricing accuracy in motor insurance, indicating better actuarial practices in small markets.

Kozarević et al. (2026) studied this question.

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