Physical Sciences and Mathematics Commons^™

Smoothed Quantiles For Claim Frequency Models, With Applications To Risk Measurement, Ponmalar Suruliraj Ratnam

Theses and Dissertations

Statistical models for the claim severity and claim frequency variables are routinely constructed and utilized by actuaries. Typical applications of such models include identification of optimal deductibles for selected loss elimination ratios, pricing of contract layers, determining credibility factors, risk and economic capital measures, and evaluation of effects of inflation, market trends and other quantities arising in insurance. While the actuarial literature on the severity models is extensive and rapidly growing, that for the claim frequency models lags behind. One of the reasons for such a gap is that various actuarial metrics do not possess ``nice'' statistical properties for the …

Ai And Machine Learning Usage In Actuarial Science, Joanna Riley

Williams Honors College, Honors Research Projects

Some people in the world work hard and do whatever it takes in order to get a job that they love. There are others that don’t care about their jobs and solely perform them in order to make money. So, there are individuals or groups that wouldn’t care if a machine or computer were to replace them in their job, but others would be devastated. The question for this paper is: Can actuaries be completely replaced by computers, or do we need the human mind in order to make proper decisions and judgements?

Key words and phrases: actuarial science, artificial …