This book builds on readers' existing knowledge of probability and statistics by establishing a solid and thorough understanding of these methods. It also emphasizes the wide variety of practical situations in insurance and actuarial science where these techniques may be used.
STATISTICAL AND PROBABILISTIC METHODS IN ACTUARIAL SCIENCE
Covering many of the diverse methods in applied probability and statistics, Statistical and Probabilistic Methods in Actuarial Science builds on readers' existing knowledge of probability and statistics by establishing a solid and thorough understanding of these methods. It also emphasizes the wide variety of practical situations in insurance and actuarial science where these techniques may be used.
Although some chapters are linked, several can be studied independently from the others. The first chapter introduces claims reserving via the deterministic chain ladder technique. The next few chapters survey loss distributions, risk models in a fixed period of time, and surplus processes, followed by an examination of credibility theory in which collateral and sample information are brought together to provide reasonable methods of estimation. In the subsequent chapter, experience rating via no claim discount schemes for motor insurance provides an interesting application of Markov chain methods. The final chapters discuss generalized linear models and decision and game theory.
Statistical and Probabilistic Methods in Actuarial Science is the ideal text for students aspiring to careers in insurance, actuarial science, and finance. In addition, the book serves as a valuable reference for insurance analysts who commonly use probabilistic and statistical techniques in practice.
FEATURES
. Features practical applications to general insurance, including loss distributions and collective risk models, reserving and experience rating, credibility estimation, and security measures of risk
. Presents useful introductions to generalized linear models, credibility theory, and game theory
. Includes material on computing, such as simulation techniques
. Contains numerous worked numerical examples and problems with selected answers in an appendix
. Provides appendices on Bayesian statistics and basic tools in probability and statistics
CONTENTS
Dedication. Preface. Introduction.Claims Reserving and Pricing with Run-Off Triangles. Loss Distributions. Risk Theory. Ruin Theory. Credibility Theory. No Claim Discounting in Motor Insurance. Generalized Linear Models. Decision and Game Theory. References. Appendices. Index.
Authors: Philip J. Boland
ISBN:1584886951
Pages:368
Price:Rs. 3150/-
Packing Weight | 1.5 kg |
Author | Philip J. Boland |
Publisher | Ane |
Page count | 368 |