Spatial Joint Modeling Of Claim Frequency And Claim Size In Third Party Car Insurance Of Iran Based On Copula Functions
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Spatial Joint Modeling Of Claim Frequency And Claim Size In Third Party Car Insurance Of Iran Based On Copula Functions
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Author : Vahid Tadayon
language : en
Publisher:
Release Date : 2023
Spatial Joint Modeling Of Claim Frequency And Claim Size In Third Party Car Insurance Of Iran Based On Copula Functions written by Vahid Tadayon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
The number of claims and the amount of claims (or the sum of claims, which is referred to as the amount of total claims/loss in the insurance literature) is among the most important information available to insurance companies, and its analysis can provide the necessary knowledge for targeted planning. In this paper, a spatial approach is studied for joint modeling of claim frequency and claim size. It is assumed that the number of accidents follows a Poisson distribution with a variable mean, and this mean in turn has a distribution that is usually referred to as a mixed distribution. Then, the spatial dependence structure within the observations is modeled using an appropriate copula function. Considering a similar framework for the conditional distribution of total claim size given the number of claims, the corresponding data will also be modeled. Finally, by estimating the parameters of the proposed model, the predictionmap for both claim frequencies and totatl claim size will be drawn and the cities or provinces of Iran with the highest number of claims and the highest amount of claims will be predicted.
Hierarchical Bayesian Spatial Regression Models With Applications To Non Life Insurance
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Author :
language : en
Publisher:
Release Date : 2007
Hierarchical Bayesian Spatial Regression Models With Applications To Non Life Insurance written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with categories.
In this thesis the modelling of overdispersed spatial count regression data is addressed. Particular emphasis is given to the Generalized Poisson distribution and zero inflated models. Further, the incorporation of spatial random effects which allows for the modelling of an underlying spatial dependency pattern, forms a central part. For the considered models efficient Markov Chain Monte Carlo (MCMC) algorithms are developed and implemented. In particular a novel Gibbs sampler for spatial Poisson regression models is developed using data augmentation techniques and compared to existing methods. An application to a comprehensive data set from a German car insurance company is given. Spatial regression models for the number of claims and claim size are developed. In contrast to the classical compound Poisson model we allow for dependencies between claim frequency and claim size. Based on these models the total claim sizes are simulated which are fundamental for premium calculation in insurance.
A Copula Approach To Test Asymmetric Information With Applications To Predictive Modeling
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Author : Peng Shi
language : en
Publisher:
Release Date : 2011
A Copula Approach To Test Asymmetric Information With Applications To Predictive Modeling written by Peng Shi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.
In this article, we provide an alternative evidence of asymmetric information in automobile insurance based on a copula model. We use the Frank's copula to jointly model the type of policy coverage chosen and the number of accidents, with the dependence parameter providing for evidence of the relationship between the choice of coverage and the frequency of accidents. This dependence therefore provides an indication of the presence (or absence) of asymmetric information. The type of coverage is in some sense ordered so that coverage with higher ordinals indicate the most comprehensive coverage. Henceforth, a positive relationship would indicate that more coverage is chosen for those with higher frequency of accidents, and vice versa. This presence of asymmetric information could be due to either adverse selection or moral hazard, a distinction often made in the economics of insurance literature, or both. We calibrated our copula model using a one-year cross-sectional observation of claims arising from a major automobile insurer in Singapore. Our estimation results indicate a strong evidence of the presence of asymmetric information, and we further used our estimated model for other possible actuarial applications. In particular, we are able to demonstrate the effect of coverage choice on the incidence of accidents, and based on which, a posterior pure premium is derived. In general, a positive margin is observed when compared with a prior premium available in our empirical data base.
Risk Theory
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Author : Hanspeter Schmidli
language : en
Publisher: Springer
Release Date : 2018-04-04
Risk Theory written by Hanspeter Schmidli and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-04 with Business & Economics categories.
This book provides an overview of classical actuarial techniques, including material that is not readily accessible elsewhere such as the Ammeter risk model and the Markov-modulated risk model. Other topics covered include utility theory, credibility theory, claims reserving and ruin theory. The author treats both theoretical and practical aspects and also discusses links to Solvency II. Written by one of the leading experts in the field, these lecture notes serve as a valuable introduction to some of the most frequently used methods in non-life insurance. They will be of particular interest to graduate students, researchers and practitioners in insurance, finance and risk management.
Non Life Insurance Pricing With Generalized Linear Models
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Author : Esbjörn Ohlsson
language : en
Publisher: Springer Science & Business Media
Release Date : 2010-03-18
Non Life Insurance Pricing With Generalized Linear Models written by Esbjörn Ohlsson and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-18 with Mathematics categories.
Non-life insurance pricing is the art of setting the price of an insurance policy, taking into consideration varoius properties of the insured object and the policy holder. Introduced by British actuaries generalized linear models (GLMs) have become today a the standard aproach for tariff analysis. The book focuses on methods based on GLMs that have been found useful in actuarial practice and provides a set of tools for a tariff analysis. Basic theory of GLMs in a tariff analysis setting is presented with useful extensions of standarde GLM theory that are not in common use. The book meets the European Core Syllabus for actuarial education and is written for actuarial students as well as practicing actuaries. To support reader real data of some complexity are provided at www.math.su.se/GLMbook.
Decision Making In A Fuzzy Environment
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Author : Richard Bellman
language : en
Publisher:
Release Date : 1970
Decision Making In A Fuzzy Environment written by Richard Bellman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1970 with Fuzzy sets categories.
Loss Models
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Author : Stuart A. Klugman
language : en
Publisher: John Wiley & Sons
Release Date : 2012-01-25
Loss Models written by Stuart A. Klugman and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-25 with Business & Economics categories.
An update of one of the most trusted books on constructing and analyzing actuarial models Written by three renowned authorities in the actuarial field, Loss Models, Third Edition upholds the reputation for excellence that has made this book required reading for the Society of Actuaries (SOA) and Casualty Actuarial Society (CAS) qualification examinations. This update serves as a complete presentation of statistical methods for measuring risk and building models to measure loss in real-world events. This book maintains an approach to modeling and forecasting that utilizes tools related to risk theory, loss distributions, and survival models. Random variables, basic distributional quantities, the recursive method, and techniques for classifying and creating distributions are also discussed. Both parametric and non-parametric estimation methods are thoroughly covered along with advice for choosing an appropriate model. Features of the Third Edition include: Extended discussion of risk management and risk measures, including Tail-Value-at-Risk (TVaR) New sections on extreme value distributions and their estimation Inclusion of homogeneous, nonhomogeneous, and mixed Poisson processes Expanded coverage of copula models and their estimation Additional treatment of methods for constructing confidence regions when there is more than one parameter The book continues to distinguish itself by providing over 400 exercises that have appeared on previous SOA and CAS examinations. Intriguing examples from the fields of insurance and business are discussed throughout, and all data sets are available on the book's FTP site, along with programs that assist with conducting loss model analysis. Loss Models, Third Edition is an essential resource for students and aspiring actuaries who are preparing to take the SOA and CAS preliminary examinations. It is also a must-have reference for professional actuaries, graduate students in the actuarial field, and anyone who works with loss and risk models in their everyday work. To explore our additional offerings in actuarial exam preparation visit www.wiley.com/go/actuarialexamprep.
Advances In Signal Processing And Intelligent Recognition Systems
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Author : Sabu M. Thampi
language : en
Publisher: Springer Nature
Release Date : 2020-04-30
Advances In Signal Processing And Intelligent Recognition Systems written by Sabu M. Thampi and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-04-30 with Computers categories.
This book constitutes the refereed proceedings of the 5th International Symposium on Advances in Signal Processing and Intelligent Recognition Systems, SIRS 2019, held in Trivandrum, India, in December 2019. The 19 revised full papers and 8 revised short papers presented were carefully reviewed and selected from 63 submissions. The papers cover wide research fields including information retrieval, human-computer interaction (HCI), information extraction, speech recognition.
An Introduction To Forensic Linguistics
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Author : Malcolm Coulthard
language : en
Publisher: Routledge
Release Date : 2007-11-28
An Introduction To Forensic Linguistics written by Malcolm Coulthard and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-11-28 with Language Arts & Disciplines categories.
Overview of the interface of language and the law, illustrated with authentic data and contemporary case studies. Topics include collection of evidence, discourse, courtroom interaction, legal language, comprehension and forensic phonetics.
Intelligent And Fuzzy Techniques For Emerging Conditions And Digital Transformation
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Author : Cengiz Kahraman
language : en
Publisher: Springer Nature
Release Date : 2021-08-23
Intelligent And Fuzzy Techniques For Emerging Conditions And Digital Transformation written by Cengiz Kahraman and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-23 with Technology & Engineering categories.
This book presents recent research in intelligent and fuzzy techniques. Emerging conditions such as pandemic, wars, natural disasters and various high technologies force people for significant changes in business and social life. The adoption of digital technologies to transform services or businesses, through replacing non-digital or manual processes with digital processes or replacing older digital technology with newer digital technologies through intelligent systems is the main scope of this book. It focuses on revealing the reflection of digital transformation in our business and social life under emerging conditions through intelligent and fuzzy systems. The latest intelligent and fuzzy methods and techniques on digital transformation are introduced by theory and applications. The intended readers are intelligent and fuzzy systems researchers, lecturers, M.Sc. and Ph.D. students studying digital transformation. Usage of ordinary fuzzy sets and their extensions, heuristics and metaheuristics from optimization to machine learning, from quality management to risk management makes the book an excellent source for researchers.