Loss models from data to decisions / by Stuart A Klugman, Harry H Panjer and Gordon E Willmot

By:

Klugman, Stuart A [author]

Contributor(s):

Material type: Text

TextLanguage: English Publication details: New Jersey : John Wiley, 2012.Edition: 4th edDescription: xiv, 513p. : illISBN:

9781118315323

Subject(s):

Other classification:

B2880bX81 N8;Q2 TOR

Summary: Newly organized to focus exclusively on material tested in the Society of Actuaries' Exam C and the Casualty Actuarial Society's Exam 4, Loss Models: From Data to Decisions, Fourth Edition continues to supply actuaries with a practical approach to the key concepts and techniques needed on the job. With updated material and extensive examples, the book successfully provides the essential methods for using available data to construct models for the frequency and severity of future adverse outcomes. The book continues to equip readers with the tools needed for the construction and analysis of mathematical models that describe the process by which funds flow into and out of an insurance system. Focusing on the loss process, the authors explore key quantitative techniques including random variables, basic distributional quantities, and the recursive method, and discuss techniques for classifying and creating distributions. Parametric, non-parametric, and Bayesian estimation methods are thoroughly covered along with advice for choosing an appropriate model.

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Holdings
Item type	Current library	Home library	Call number	Status	Barcode
Textbook	Central Science Library	Central Science Library	B2880bX81 N8;Q2 TOR (Browse shelf(Opens below))	Available	SL1598158

References 501-506p.; Index 507-513p.

Newly organized to focus exclusively on material tested in the Society of Actuaries' Exam C and the Casualty Actuarial Society's Exam 4, Loss Models: From Data to Decisions, Fourth Edition continues to supply actuaries with a practical approach to the key concepts and techniques needed on the job. With updated material and extensive examples, the book successfully provides the essential methods for using available data to construct models for the frequency and severity of future adverse outcomes.

The book continues to equip readers with the tools needed for the construction and analysis of mathematical models that describe the process by which funds flow into and out of an insurance system. Focusing on the loss process, the authors explore key quantitative techniques including random variables, basic distributional quantities, and the recursive method, and discuss techniques for classifying and creating distributions. Parametric, non-parametric, and Bayesian estimation methods are thoroughly covered along with advice for choosing an appropriate model.

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