STATISTICAL METHODS OF ANALYSIS OF THE RISK PREMIUM AMOUNT

Abstract

For the successful functioning of business entities on the financial market, an important place is given to the management of financial risks, one of the widely used methods of reducing which is insurance, along with the insur-ance risk that the insurance company accepts for insurance. The financial risk of the insurance company, the integral components of which are risks related to carrying out its operational, financial and investment activities is considered. Components of the risk of conducting operational activities are the risks of non-receipt of the insurance premium, loss of balance of the insurance portfolio, insufficient insurance reserve and conducting reinsurance activities. An inherent component of the risk of non-receipt of the insurance premium, which is used, as a rule, for payments for reimburse-ment requests is the risk of non-receipt of the risk premium. Its reduction is influenced by the determination of a scien-tifically based value of the probability of the occurrence of an insured event and consideration of the type of law of distribution of the random value of the loss. The study of scientific and practical literature, methodical materials of insurance companies and actuaries showed that when determining the amount of the insurance premium in general and the risk premium in particular, when the amount of loss is characterized by a continuous distribution, the type of distri-bution law is assumed to be even. The purpose of this article was to determine, based on the collected statistical data of the insurance company PJSC "Insurance Group "Y.BI.AI-COOP", a scientifically based value of the probability of the occurrence of an insured event and to establish the type of law of distribution of the random amount of the loss, which will allow to calculate the scientifically based amount of the insurance premium in general and the risk premium in particular. It was concluded that taking into account the type of law of distribution of the random amount of the loss will allow to determine the reasonable amount of the risk premium, which will contribute to the additional involvement of policyholders. Conducted research for life insurance showed that failure to take into account the distribution law type of random loss amount would lead to an overestimation of the risk premium by 1.09 times as well as to an underes-timation by 1.79 times.