Methods and Models of Loss Reserving Based on Run-off Triangles
Author : Klaus D. Schmidt
Publisher :
Page : pages
File Size : 37,6 MB
Release : 2006
Category :
ISBN :
Author : Klaus D. Schmidt
Publisher :
Page : pages
File Size : 37,6 MB
Release : 2006
Category :
ISBN :
Author : Michael Radtke
Publisher : Springer
Page : 317 pages
File Size : 34,98 MB
Release : 2016-10-26
Category : Business & Economics
ISBN : 3319300563
This handbook presents the basic aspects of actuarial loss reserving. Besides the traditional methods, it also includes a description of more recent ones and a discussion of certain problems occurring in actuarial practice, like inflation, scarce data, large claims, slow loss development, the use of market statistics, the need for simulation techniques and the task of calculating best estimates and ranges of future losses. In property and casualty insurance the provisions for payment obligations from losses that have occurred but have not yet been settled usually constitute the largest item on the liabilities side of an insurer's balance sheet. For this reason, the determination and evaluation of these loss reserves is of considerable economic importance for every property and casualty insurer. Actuarial students, academics as well as practicing actuaries will benefit from this overview of the most important actuarial methods of loss reserving by developing an understanding of the underlying stochastic models and how to practically solve some problems which may occur in actuarial practice.
Author : J. van Eeghen
Publisher :
Page : 120 pages
File Size : 31,41 MB
Release : 1981
Category : Business losses
ISBN :
Author : Greg Taylor
Publisher :
Page : 100 pages
File Size : 39,39 MB
Release : 2016-05-04
Category :
ISBN : 9780996889704
In this monograph, authors Greg Taylor and Gráinne McGuire discuss generalized linear models (GLM) for loss reserving, beginning with strong emphasis on the chain ladder. The chain ladder is formulated in a GLM context, as is the statistical distribution of the loss reserve. This structure is then used to test the need for departure from the chain ladder model and to consider natural extensions of the chain ladder model that lend themselves to the GLM framework.
Author : Klaus D. Schmidt
Publisher :
Page : 94 pages
File Size : 22,37 MB
Release : 2006
Category :
ISBN :
Author : Mario V. Wüthrich
Publisher : John Wiley & Sons
Page : 438 pages
File Size : 49,9 MB
Release : 2008-04-30
Category : Business & Economics
ISBN : 0470772727
Claims reserving is central to the insurance industry. Insurance liabilities depend on a number of different risk factors which need to be predicted accurately. This prediction of risk factors and outstanding loss liabilities is the core for pricing insurance products, determining the profitability of an insurance company and for considering the financial strength (solvency) of the company. Following several high-profile company insolvencies, regulatory requirements have moved towards a risk-adjusted basis which has lead to the Solvency II developments. The key focus in the new regime is that financial companies need to analyze adverse developments in their portfolios. Reserving actuaries now have to not only estimate reserves for the outstanding loss liabilities but also to quantify possible shortfalls in these reserves that may lead to potential losses. Such an analysis requires stochastic modeling of loss liability cash flows and it can only be done within a stochastic framework. Therefore stochastic loss liability modeling and quantifying prediction uncertainties has become standard under the new legal framework for the financial industry. This book covers all the mathematical theory and practical guidance needed in order to adhere to these stochastic techniques. Starting with the basic mathematical methods, working right through to the latest developments relevant for practical applications; readers will find out how to estimate total claims reserves while at the same time predicting errors and uncertainty are quantified. Accompanying datasets demonstrate all the techniques, which are easily implemented in a spreadsheet. A practical and essential guide, this book is a must-read in the light of the new solvency requirements for the whole insurance industry.
Author : Hans Bühlmann
Publisher : Springer Science & Business Media
Page : 346 pages
File Size : 30,7 MB
Release : 2005-11-13
Category : Mathematics
ISBN : 354029273X
This book is ideal for practicing experts in particular actuaries in the field of property-casualty insurance, life insurance, reinsurance and insurance supervision, as well as teachers and students. It provides an exploration of Credibility Theory, covering most aspects of this topic from the simplest case to the most detailed dynamic model. The book closely examines the tasks an actuary encounters daily: estimation of loss ratios, claim frequencies and claim sizes.
Author : Mark R. Shapland
Publisher :
Page : 116 pages
File Size : 30,80 MB
Release : 2016
Category : Actuarial science
ISBN : 9780996889742
Author : Philip J. Boland
Publisher : CRC Press
Page : 368 pages
File Size : 38,29 MB
Release : 2007-03-05
Category : Business & Economics
ISBN : 158488696X
Statistical and Probabilistic Methods in Actuarial Science covers many of the diverse methods in applied probability and statistics for students aspiring to careers in insurance, actuarial science, and finance. The book builds on students' existing knowledge of probability and statistics by establishing a solid and thorough understanding of
Author : Arthur Charpentier
Publisher : CRC Press
Page : 652 pages
File Size : 17,20 MB
Release : 2014-08-26
Category : Business & Economics
ISBN : 1498759823
A Hands-On Approach to Understanding and Using Actuarial ModelsComputational Actuarial Science with R provides an introduction to the computational aspects of actuarial science. Using simple R code, the book helps you understand the algorithms involved in actuarial computations. It also covers more advanced topics, such as parallel computing and C/