Property and casualty insurance pricing with GLMs

Jan Iwanik
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Jan Iwanik: RBS Insurance

Chapter 11 in Statistical Tools for Finance and Insurance, 2011, pp 349-370 from Springer

Abstract: Abstract The purpose of insurance rate making is to ensure that the book of business generates enough revenue to pay claims, expenses, and make profit. Apart from managing the overall level the actuary also needs to design a rating segmentation structure. The insurance company must understand which policies are more and which are less likely to generate claims. The price of insurance should reflect these differences.

Keywords: Exponential Family; Deviance Residual; Multiplicative Structure; Risk Detail; Claim Frequency (search for similar items in EconPapers)
Date: 2011
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DOI: 10.1007/978-3-642-18062-0_11

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