Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Insurance
Fitting Loss Distributions In The Presence Of Rating Variables, Farrokh Guiahi
Fitting Loss Distributions In The Presence Of Rating Variables, Farrokh Guiahi
Journal of Actuarial Practice (1993-2006)
This paper focuses on issues and methodologies for fitting alternative statistical models-parametric probability distributions-to samples of insurance loss data. The interactions of loss distributions, deductibles, policy limits, and rating variables in the context of fitting distributions to losses are discussed. Fitted loss distributions serve an important function in pricing insurance products. The methodology developed in this paper is applied to a sample of insurance loss data that has the lognormal as the underlying loss distribution.
A New Approach To Modeling Excess Mortality, Peter D. England, Steven Haberman
A New Approach To Modeling Excess Mortality, Peter D. England, Steven Haberman
Journal of Actuarial Practice (1993-2006)
This paper describes a complete framework for the statistical modeling of excess mortality, with particular reference to the experience of insured, impaired lives. The principal measure of excess mortality considered is the standardized mortality ratio. The modeling approach, based on the theory of generalized linear models, allows us to build models containing several explanatory variables. The statistical significance of these variables can be tested, and the effect of interactions between the variables can be assessed rigorously. The paper uses data drawn from the extensive, continuing investigation into the mortality of insured, impaired lives conducted by the Prudential Assurance Company (UK). …