INNOVATIVE PROCESS IN RISK MANAGEMENT BASED ON EXAMPLE OF AN ATTEMPT AT DEFINING THE EFFECT OF REPAIR COSTS AT THE HEIGHT OF INDIVIDUAL INDIVIDUAL INTERRUPTION OF THE INSURANCE RATES

Abstract

The purpose of the article is to try to examine the impact of vehicle repair costs on the
level of the insurance rate. The verification of the following research hypothesis was used to achieve
this goal. Shaping the insurance rate based on the repair cost parameter may lead to the development
of an innovative method of risk assessment in relation to motor insurance and in particular, voluntary
insurance such as comprehensive insurance. Achieving this task required the use of appropriate
research methods and techniques, such as: analysis of available literature sources, methods of
induction and deduction, and conducting a numerical experiment, in order to assess the impact of
repair costs on the insurance rate.
On the other hand, direct recipients of the presented research results may be insurance companies,
which in the near future are considering changes in the methods of determining risk and shaping the
insurance rate in the case of voluntary motor insurance.