An Introduction To Credibility Theory
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| Author | : Thomas N. Herzog |
| Publisher | : |
| Total Pages | : 337 |
| Release | : 2010-01-01 |
| Genre | : Credibility theory (Insurance) |
| ISBN | : 9781566987646 |
This text has been named as an approved reference in preparing for the SOA Exam C and the CAS Exam 4. Several chapters have been adopted as syllabus references for the SOA Group and Health specialty Design and Pricing Fellowship exam. Credibility modeling is a proven approach for analyzing unique product designs. This text presents a wide variety of credibility models in an easy-to-read style, and in so doing, traces the historical development of the subject. The Bayesian approach to credibility is emphasized. The text concentrates on basic statistical concepts, leaving more sophisticated theoretical concepts for a more advanced treatment elsewhere. It contains worked examples, a large number of end-of-chapter exercises and an extensive bibliography. Practical applications of credibility theory are presented in the Appendices. In the rapidly evolving healthcare environment, data credibility is more important than ever. The Fourth Edition of this text includes three case studies relating to healthcare issues. A separate solutions manual for the text exercises is also available.
| Author | : Hans Bühlmann |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 346 |
| Release | : 2005-11-13 |
| Genre | : 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 | : Rob Kaas |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 394 |
| Release | : 2008-12-03 |
| Genre | : Business & Economics |
| ISBN | : 3540867368 |
Modern Actuarial Risk Theory contains what every actuary needs to know about non-life insurance mathematics. It starts with the standard material like utility theory, individual and collective model and basic ruin theory. Other topics are risk measures and premium principles, bonus-malus systems, ordering of risks and credibility theory. It also contains some chapters about Generalized Linear Models, applied to rating and IBNR problems. As to the level of the mathematics, the book would fit in a bachelors or masters program in quantitative economics or mathematical statistics. This second and.
| Author | : L. H. Longley-Cook |
| Publisher | : |
| Total Pages | : 40 |
| Release | : 1962 |
| Genre | : Insurance |
| ISBN | : |
| Author | : Scott Ashworth |
| Publisher | : Princeton University Press |
| Total Pages | : 280 |
| Release | : 2021-07-20 |
| Genre | : Political Science |
| ISBN | : 0691215006 |
A clear and comprehensive framework for bridging the widening gap between theorists and empiricists in social science The credibility revolution, with its emphasis on empirical methods for causal inference, has led to concerns among scholars that the canonical questions about politics and society are being neglected because they are no longer deemed answerable. Theory and Credibility stakes out an opposing view—presenting a new vision of how, working together, the credibility revolution and formal theory can advance social scientific inquiry. This authoritative book covers the conceptual foundations and practicalities of both model building and research design, providing a new framework to link theory and empirics. Drawing on diverse examples from political science, it presents a typology of the rich set of interactions that are possible between theory and empirics. This typology opens up new ways for scholars to make progress on substantive questions, and enables researchers from disparate traditions to gain a deeper appreciation for each other's work and why it matters. Theory and Credibility shows theorists how to create models that are genuinely useful to empirical inquiry, and helps empiricists better understand how to structure their research in ways that speak to theoretically meaningful questions.
| Author | : S. David Promislow |
| Publisher | : John Wiley & Sons |
| Total Pages | : 390 |
| Release | : 2011-01-06 |
| Genre | : Mathematics |
| ISBN | : 0470978074 |
This book provides a comprehensive introduction to actuarial mathematics, covering both deterministic and stochastic models of life contingencies, as well as more advanced topics such as risk theory, credibility theory and multi-state models. This new edition includes additional material on credibility theory, continuous time multi-state models, more complex types of contingent insurances, flexible contracts such as universal life, the risk measures VaR and TVaR. Key Features: Covers much of the syllabus material on the modeling examinations of the Society of Actuaries, Canadian Institute of Actuaries and the Casualty Actuarial Society. (SOA-CIA exams MLC and C, CSA exams 3L and 4.) Extensively revised and updated with new material. Orders the topics specifically to facilitate learning. Provides a streamlined approach to actuarial notation. Employs modern computational methods. Contains a variety of exercises, both computational and theoretical, together with answers, enabling use for self-study. An ideal text for students planning for a professional career as actuaries, providing a solid preparation for the modeling examinations of the major North American actuarial associations. Furthermore, this book is highly suitable reference for those wanting a sound introduction to the subject, and for those working in insurance, annuities and pensions.
| Author | : |
| Publisher | : |
| Total Pages | : 620 |
| Release | : 1996 |
| Genre | : Business & Economics |
| ISBN | : |
| Author | : Philip J. Boland |
| Publisher | : CRC Press |
| Total Pages | : 368 |
| Release | : 2007-03-05 |
| Genre | : 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 | : Michel Denuit |
| Publisher | : John Wiley & Sons |
| Total Pages | : 458 |
| Release | : 2006-05-01 |
| Genre | : Business & Economics |
| ISBN | : 0470016442 |
The increasing complexity of insurance and reinsurance products has seen a growing interest amongst actuaries in the modelling of dependent risks. For efficient risk management, actuaries need to be able to answer fundamental questions such as: Is the correlation structure dangerous? And, if yes, to what extent? Therefore tools to quantify, compare, and model the strength of dependence between different risks are vital. Combining coverage of stochastic order and risk measure theories with the basics of risk management and stochastic dependence, this book provides an essential guide to managing modern financial risk. * Describes how to model risks in incomplete markets, emphasising insurance risks. * Explains how to measure and compare the danger of risks, model their interactions, and measure the strength of their association. * Examines the type of dependence induced by GLM-based credibility models, the bounds on functions of dependent risks, and probabilistic distances between actuarial models. * Detailed presentation of risk measures, stochastic orderings, copula models, dependence concepts and dependence orderings. * Includes numerous exercises allowing a cementing of the concepts by all levels of readers. * Solutions to tasks as well as further examples and exercises can be found on a supporting website. An invaluable reference for both academics and practitioners alike, Actuarial Theory for Dependent Risks will appeal to all those eager to master the up-to-date modelling tools for dependent risks. The inclusion of exercises and practical examples makes the book suitable for advanced courses on risk management in incomplete markets. Traders looking for practical advice on insurance markets will also find much of interest.
| Author | : Stuart A. Klugman |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 242 |
| Release | : 2013-04-17 |
| Genre | : Business & Economics |
| ISBN | : 9401708452 |
The debate between the proponents of "classical" and "Bayesian" statistica} methods continues unabated. It is not the purpose of the text to resolve those issues but rather to demonstrate that within the realm of actuarial science there are a number of problems that are particularly suited for Bayesian analysis. This has been apparent to actuaries for a long time, but the lack of adequate computing power and appropriate algorithms had led to the use of various approximations. The two greatest advantages to the actuary of the Bayesian approach are that the method is independent of the model and that interval estimates are as easy to obtain as point estimates. The former attribute means that once one learns how to analyze one problem, the solution to similar, but more complex, problems will be no more difficult. The second one takes on added significance as the actuary of today is expected to provide evidence concerning the quality of any estimates. While the examples are all actuarial in nature, the methods discussed are applicable to any structured estimation problem. In particular, statisticians will recognize that the basic credibility problem has the same setting as the random effects model from analysis of variance.
