Gamma model
The next stage in establishing the insurance premium resides in estimating the cost of claims based on the risk
factors considered by the insurance company. Therefore, for the Gamma model, the obtained results (Table 2)
suggest that for the analyzed portfolio, the cost of claims is influenced by the age of insured, the profession of
insured and the type of vehicle. The influence factors of the claims cost are different from the factors corresponding
to the frequency of claims, fact that confirms the assumption suggested by the actuary literature regarding the
isolated analysis of these two phenomena.