|
|
 |
|
Viewing report
|
|
|
|
Stochastic Claims Reserving Methods in Insurance
John Wiley and Sons Ltd, April 2008, Pages: 440
Claims reserving is central to the insurance industry. Insurance liabilities depend on a number of different risk factors which need to be predicted accurately. This prediction of risk factors and outstanding loss liabilities is the core for pricing insurance products, determining the profitability of an insurance company and for considering the financial strength (solvency) of the company.
Following several high-profile company insolvencies, regulatory requirements have moved towards a risk-adjusted basis which has lead to the Solvency II developments. The key focus in the new regime is that financial companies need to analyze adverse developments in their portfolios. Reserving actuaries now have to not only estimate reserves for the outstanding loss liabilities but also to quantify possible shortfalls in these reserves that may lead to potential losses. Such an analysis requires stochastic modeling of loss liability cash flows and it can only be done within a stochastic framework. Therefore stochastic loss liability modeling and quantifying prediction uncertainties has become standard under the new legal framework for the financial industry.
This book covers all the mathematical theory and practical guidance needed in order to adhere to these stochastic techniques. Starting with the basic mathematical methods, working right through to the latest developments relevant for practical applications; readers will find out how to estimate total claims reserves while at the same time predicting errors and uncertainty are quantified. Accompanying datasets demonstrate all the techniques, which are easily implemented in a spreadsheet. A practical and essential guide, this book is a must-read in the light of the new solvency requirements for the whole insurance industry
Product samples
A sample for this product is available. Please Login/Register to download this sample.
Customers who bought this item also bought
Advanced Stochastic Models, Risk Assessment, and Portfolio Optimization: The Ideal Risk, Uncertainty, and Performance Measures
Insurance Claims: A Comprehensive Guide
Multivariate Methods in Chromatography: A Practical Guide
Generalized, Linear, and Mixed Models, 2nd Edition
Simulation and the Monte Carlo Method, 2nd Edition
Loss Models: From Data to Decisions, 3rd Edition
Introduction to Stochastic Models
Stochastic Dynamics of Structures
Loss Models: From Data to Decisions, 3rd Edition Set
Learning from Data: Concepts, Theory, and Methods, 2nd Edition
Repositioning Claims in Non-life Insurance (Market Focus)
The Solvency II Handbook
|
|
|
|
