Loss models from data to decisions
A guide that provides in-depth coverage of modeling techniques used throughout many branches of actuarial science, revised and updated Now in its fifth edition, Loss Models: From Data to Decisions puts the focus on material tested in the Society of Actuaries (SOA) newly revised Exams STAM (Short-Ter...
| Main Authors: | , , |
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| Format: | eBook |
| Language: | English |
| Published: |
Hoboken, NJ
John Wiley & Sons, Inc.
2019
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| Edition: | Fifth edition |
| Series: | Wiley series in probability and statistics
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| Subjects: | |
| Online Access: | |
| Collection: | O'Reilly - Collection details see MPG.ReNa |
Table of Contents:
- 3.4.3 Classification Based on the Hazard Rate Function3.4.4 Classification Based on the Mean Excess Loss Function The mean excess; 3.4.5 Equilibrium Distributions and Tail Behavior; 3.4.6 Exercises; 3.5 Measures of Risk; 3.5.1 Introduction; 3.5.2 Risk Measures and Coherence; 3.5.3 Value at Risk; 3.5.4 Tail Value of Risk; 3.5.5 Exercises; PART II ACTUARIAL MODELS; 4. CHARACTERISTICS OF ACTUARIALMODELS; 4.1 Introduction; 4.2 The Role of Parameters; 4.2.1 Parametric and Scale Distributions; 4.2.2 Parametric Distribution Families; 4.2.3 Finite Mixture Distributions
- Includes bibliographical references and index
- 4.2.4 Data-Dependent Distributions4.2.5 Exercises; 5. CONTINUOUS MODELS; 5.1 Introduction; 5.2 Creating New Distributions; 5.2.1 Multiplication by a Constant; 5.2.2 Raising to a Power; 5.2.3 Exponentiation; 5.2.4 Mixing; 5.2.5 Frailty Models; 5.2.6 Splicing; 5.2.7 Exercises; 5.3 Selected Distributions and Their Relationships; 5.3.1 Introduction; 5.3.2 Two Parametric Families; 5.3.3 Limiting Distributions; 5.3.4 Two Heavy-Tailed Distributions; 5.3.5 Exercises; 5.4 The Linear Exponential Family; 5.4.1 Exercises; 6. DISCRETE DISTRIBUTIONS; 6.1 Introduction; 6.1.1 Exercise
- 8. FREQUENCY AND SEVERITY WITHCOVERAGE MODIFICATIONS8.1 Introduction; 8.2 Deductibles; 8.2.1 Exercises; 8.3 The Loss Elimination Ratio and the Effect of Inflation for OrdinaryDeductibles; 8.3.1 Exercise; 8.4 Policy Limits; 8.4.1 Exercises; 8.5 Coinsurance, Deductibles, and Limits; 8.5.1 Exercises; 8.6 The Impact of Deductibles on Claim Frequency; 8.6.1 Exercises; 9. AGGREGATE LOSS MODELS; 9.1 Introduction; 9.1.1 Exercises; 9.2 Model Choices; 9.2.1 Exercises; 9.3 The Compound Model for Aggregate Claims; 9.3.1 Probabilities and Moments; 9.3.2 Stop-Loss Insurance; 9.3.3 The Tweedle Distribution
- 6.2 The Poisson Distribution6.3 The Negative Binomial Distribution; 6.4 The Binomial Distribution; 6.5 The (a, b,0) Class; 6.5.1 Exercises; 6.6 Truncation and Modification at zero; 6.6.1 Exercises; 7. ADVANCED DISCRETE DISTRIBUTIONS; 7.1 Compound Frequency Distributions; 7.1.1 Exercises; 7.2 Further Properties of the Compound Poisson Class; 7.2.1 Exercises; 7.3 Mixed-Frequency Distributions; 7.3.1 The General Mixed-Frequency Distribution; 7.3.2 Mixed Poisson Distributions; 7.3.3 Exercises; 7.4 The Effect of Exposure on Frequency; 7.5 An Inventory of Discrete Distributions; 7.5.1 Exercises
- Intro; Copyright Page; LOSS MODELS; CONTENTS; PREFACE; ABOUT THE COMPANION WEBSITE; PART I INTRODUCTION; 1. MODELING; The Model-Based ApproachThe; 1.1.1 The Modeling; The Modeling Advantage; The Organization of This Book; 2. RANDOM VARIABLES; 2.1 Introduction; 2.2 Key Functions and Four Models; 2.2.1 Exercises; 3. BASIC DISTRIBUTIONAL QUANTITIES; 3.1 Moments; 3.1.1 Exercises; 3.2 Percentiles; 3.2.1 Exercises; 3.3 Generating Functions and Sums of Random Variables; 3.3.1 Exercises; 3.4 Tails of Distributions; 3.4.1 Classification Based on Moments; 3.4.2 Comparison Based on Limiting Tail