Jacob, Azaare; Wu, Zhao - In: Journal of risk and financial management : JRFM 13 (2020) 7/143, pp. 1-15
This paper examines the current No-Claim Discount (NCD) system used in Ghana’s auto insurance market as inefficient and outmoded and, therefore, proposes an alternative optimal Bonus-Malus System (BMS) intended to meet the present market conditions and demand. It appears that the existing BMS...