Risk classification with on‐demand insurance
研究了按需保险这一创新商业模式如何利用人们在风险暴露频率和损失概率上的差异来筛选投保人，并推动效用可能性边界外移，为保险科技实践提供理论支持。
Abstract On‐demand insurance is an innovative business model from the InsurTech space, which provides coverage for episodic risks. It makes use of a simple fact in a practical way: People differ in their frequency of exposure as well as the probability of loss. The extra dimension of heterogeneity can be used to screen the insured and shifts the utility‐possibility frontier outward. We provide a sufficient condition under which type‐specific full insurance at the actuarially fair price is incentive compatible. We also show that our results hold for various real‐world implementations of on‐demand insurance.