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Received: 2001-04-18

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Journal of Zhejiang University SCIENCE A 2002 Vol.3 No.2 P.140-147


Estimation of financial loss ratio for E-insurance: a quantitative model

Author(s):  ZHONG Yuan-sheng, CHEN De-ren, SHI Min-hua

Affiliation(s):  Department of Computer Science & Technology, Zhejiang University, Hangzhou 310027, China; more

Corresponding email(s):   zhyuans@zjuem.zju.edu.cn

Key Words:  Electronic commerce, Security, Financial loss ratio, Insurance

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ZHONG Yuan-sheng, CHEN De-ren, SHI Min-hua. Estimation of financial loss ratio for E-insurance: a quantitative model[J]. Journal of Zhejiang University Science A, 2002, 3(2): 140-147.

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In view of the risk of E-commerce and the response of the insurance industry to it, this paper is aimed at one important point of insurance, that is, estimation of financial loss ratio, which is one of the most difficult problems facing the E-insurance industry. This paper proposes a quantitative analyzing model for estimating E-insurance financial loss ratio. The model is based on gross income per enterprise and CSI/FBI computer crime and security survey. The analysis results presented are reasonable and valuable for both insurer and the insured and thus can be accepted by both of them. What we must point out is that according to our assumption, the financial loss ratio varied very little, 0.233% in 1999 and 0.236% in 2000 although there was much variation in the main data of the CSI/FBI survey.

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