Nonlife Actuarial Models - Theory, Methods and Evaluation

"The second edition of this textbook for undergraduate courses in actuarial science emphasizes the concepts and practical application of nonlife actuarial models. Also ideal for those preparing for professional exams, it contains R code examples and many exercises, including questions adapted from past exams of the Society of Actuaries"--

List of contents

Preface; Notation and convention; Part I. Loss Models: 1. Claim-frequency distribution; 2. Claim-severity distribution; 3. Aggregate-loss models; Part II. Risk and Ruin: 4. Risk measures; 5. Ruin theory; Part III. Credibility: 6. Classical credibility; 7. Bühlmann credibility; 8. Bayesian approach; 9. Empirical implementation of credibility; Part IV. Model Construction and Evaluation: 10. Model estimation and types of data; 11. Nonparametric model estimation; 12. Parametric model estimation; 13. Model evaluation and selection; 14. Basic Monte Carlo methods; 15. Applications of Monte Carlo methods; Part V. Loss reserving and ratemaking: 16. Loss reserving; 17. Ratemaking; Appendix: review of statistics; Answers to Exercises; References; Index.

About the author

Yiu-Kuen Tse is an Emeritus Professor with the Singapore Management University. He has been a Fellow of the Society of Actuaries since 1993. He has published extensively in the areas of financial data analysis and financial risk management, including the book Financial Mathematics for Actuaries (third edition, 2021) which he co-authored with Wai-Sum Chan.

Summary

The second edition of this textbook for undergraduate courses in actuarial science emphasizes the concepts and practical application of nonlife actuarial models. Also ideal for those preparing for professional exams, it contains R code examples and many exercises, including questions adapted from past exams of the Society of Actuaries.

Product details

• Authors: Yiu-Kuen Tse, Yiu-Kuen (Singapore Management University) Tse, Tse Yiu-Kuen
• Publisher: Cambridge University Press ELT
• Languages: English
• Product format: Hardback
• Released: 01.05.2023
• EAN: 9781009315074
• ISBN: 978-1-0-0931507-4
• No. of pages: 560
• Series: International Series on Actuarial Science
• Subjects: Natural sciences, medicine, IT, technology > Mathematics > Probability theory, stochastic theory, mathematical statistics; Social sciences, law, business > Business > Advertising, marketing; MATHEMATICS / Probability & Statistics / General, MATHEMATICS / Applied, BUSINESS & ECONOMICS / Insurance / General, Probability & statistics, Insurance & actuarial studies, Mathematical modelling, Probability and statistics, Insurance and actuarial studies