There are a broad variety of variables for actuaries to think of when calculating a motorist’s coverage premium, akin to age, gender and variety of car. Added to those elements, motorists’ charges are topic to expertise score methods, together with credibility mechanisms and boon Malus methods (BMSs).
Actuarial Modelling of Declare Counts presents a complete therapy of the varied expertise score methods and their relationships with threat classification. The authors summarize the newest developments within the area, presenting ratemaking methods, while bearing in mind exogenous info.
The textual content:
- Presents the primary self-contained, sensible strategy to a priori and a posteriori ratemaking in motor coverage.
- Discusses the problems of declare frequency and declare severity, multi-occasion techniques, and the mixtures of deductibles and BMSs.
- Introduces current developments in actuarial science and exploits the generalised linear mannequin and generalised linear combined mannequin to obtain threat classification.
- Presents credibility mechanisms as refinements of economic BMSs.
- Supplies sensible purposes with actual knowledge units processed with SAS program.
Actuarial Modelling of Declare Counts is necessary studying for pupils in actuarial science, as good as training and educational actuaries. It’s also ideally fitted to professionals concerned within the coverage enterprise, utilized mathematicians, quantitative economists, monetary engineers and statisticians.