Pricing In General Insurance

Author : Pietro Parodi
Publisher : CRC Press
Page : 584 pages
File Size : 51,9 Mb
Release : 2014-10-15
Category : Business & Economics
ISBN : 9781466581487

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Pricing in General Insurance by Pietro Parodi Pdf

Based on the syllabus of the actuarial industry course on general insurance pricing — with additional material inspired by the author’s own experience as a practitioner and lecturer — Pricing in General Insurance presents pricing as a formalised process that starts with collecting information about a particular policyholder or risk and ends with a commercially informed rate. The main strength of this approach is that it imposes a reasonably linear narrative on the material and allows the reader to see pricing as a story and go back to the big picture at any time, putting things into context. Written with both the student and the practicing actuary in mind, this pragmatic textbook and professional reference: Complements the standard pricing methods with a description of techniques devised for pricing specific products (e.g., non-proportional reinsurance and property insurance) Discusses methods applied in personal lines when there is a large amount of data and policyholders can be charged depending on many rating factors Addresses related topics such as how to measure uncertainty, incorporate external information, model dependency, and optimize the insurance structure Provides case studies, worked-out examples, exercises inspired by past exam questions, and step-by-step methods for dealing concretely with specific situations Pricing in General Insurance delivers a practical introduction to all aspects of general insurance pricing, covering data preparation, frequency analysis, severity analysis, Monte Carlo simulation for the calculation of aggregate losses, burning cost analysis, and more.

Author : Stephen J. Mildenhall,John A. Major
Publisher : John Wiley & Sons
Page : 564 pages
File Size : 47,8 Mb
Release : 2022-06-15
Category : Business & Economics
ISBN : 9781119755678

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Pricing Insurance Risk by Stephen J. Mildenhall,John A. Major Pdf

PRICING INSURANCE RISK A comprehensive framework for measuring, valuing, and managing risk Pricing Insurance Risk: Theory and Practice delivers an accessible and authoritative account of how to determine the premium for a portfolio of non-hedgeable insurance risks and how to allocate it fairly to each portfolio component. The authors synthesize hundreds of academic research papers, bringing to light little-appreciated answers to fundamental questions about the relationships between insurance risk, capital, and premium. They lean on their industry experience throughout to connect the theory to real-world practice, such as assessing the performance of business units, evaluating risk transfer options, and optimizing portfolio mix. Readers will discover: Definitions, classifications, and specifications of risk An in-depth treatment of classical risk measures and premium calculation principles Properties of risk measures and their visualization A logical framework for spectral and coherent risk measures How risk measures for capital and pricing are distinct but interact Why the cost of capital, not capital itself, should be allocated The natural allocation method and how it unifies marginal and risk-adjusted probability approaches Applications to reserve risk, reinsurance, asset risk, franchise value, and portfolio optimization Perfect for actuaries working in the non-life or general insurance and reinsurance sectors, Pricing Insurance Risk: Theory and Practice is also an indispensable resource for banking and finance professionals, as well as risk management professionals seeking insight into measuring the value of their efforts to mitigate, transfer, or bear nonsystematic risk.

Author : Esbjörn Ohlsson,Björn Johansson
Publisher : Springer Science & Business Media
Page : 181 pages
File Size : 45,7 Mb
Release : 2010-03-18
Category : Mathematics
ISBN : 9783642107917

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Non-Life Insurance Pricing with Generalized Linear Models by Esbjörn Ohlsson,Björn Johansson Pdf

Non-life insurance pricing is the art of setting the price of an insurance policy, taking into consideration varoius properties of the insured object and the policy holder. Introduced by British actuaries generalized linear models (GLMs) have become today a the standard aproach for tariff analysis. The book focuses on methods based on GLMs that have been found useful in actuarial practice and provides a set of tools for a tariff analysis. Basic theory of GLMs in a tariff analysis setting is presented with useful extensions of standarde GLM theory that are not in common use. The book meets the European Core Syllabus for actuarial education and is written for actuarial students as well as practicing actuaries. To support reader real data of some complexity are provided at www.math.su.se/GLMbook.

Author : Pietro Parodi
Publisher : CRC Press
Page : 739 pages
File Size : 44,5 Mb
Release : 2023-05-02
Category : Business & Economics
ISBN : 9781000860795

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Pricing in General Insurance by Pietro Parodi Pdf

Based on the syllabus of the actuarial profession courses on general insurance pricing – with additional material inspired by the author’s own experience as a practitioner and lecturer – Pricing in General Insurance, Second Edition presents pricing as a formalised process that starts with collecting information about a particular policyholder or risk and ends with a commercially informed rate. The first edition of the book proved very popular among students and practitioners with its pragmatic approach, informal style, and wide-ranging selection of topics, including: Background and context for pricing Process of experience rating, ranging from traditional approaches (burning cost analysis) to more modern approaches (stochastic modelling) Exposure rating for both property and casualty products Specialised techniques for personal lines (e.g., GLMs), reinsurance, and specific products such as credit risk and weather derivatives General-purpose techniques such as credibility, multi-line pricing, and insurance optimisation The second edition is a substantial update on the first edition, including: New chapter on pricing models: their structure, development, calibration, and maintenance New chapter on rate change calculations and the pricing cycle Substantially enhanced treatment of exposure rating, increased limit factors, burning cost analysis Expanded treatment of triangle-free techniques for claim count development Improved treatment of premium building and capital allocation Expanded treatment of machine learning Enriched treatment of rating factor selection, and the inclusion of generalised additive models The book delivers a practical introduction to all aspects of general insurance pricing and is aimed at students of general insurance and actuarial science as well as practitioners in the field. It is complemented by online material, such as spreadsheets which implement the techniques described in the book, solutions to problems, a glossary, and other appendices – increasing the practical value of the book.

Author : Roger J. Gray,Susan M. Pitts
Publisher : Cambridge University Press
Page : 409 pages
File Size : 48,8 Mb
Release : 2012-06-28
Category : Business & Economics
ISBN : 9780521863940

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Risk Modelling in General Insurance by Roger J. Gray,Susan M. Pitts Pdf

A wide range of topics give students a firm foundation in statistical and actuarial concepts and their applications.

Author : David Hindley
Publisher : Cambridge University Press
Page : 513 pages
File Size : 46,7 Mb
Release : 2017-10-26
Category : Business & Economics
ISBN : 9781107076938

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Claims Reserving in General Insurance by David Hindley Pdf

This is a single comprehensive reference source covering the key material on this subject, and describing both theoretical and practical aspects.

Author : Jacqueline Friedland, FCIA, FCAS, MAAA
Publisher : ACTEX Publications
Page : 441 pages
File Size : 42,6 Mb
Release : 2014-01-01
Category : Business & Economics
ISBN : 9780975933763

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Fundamentals of General Insurance Actuarial Analysis by Jacqueline Friedland, FCIA, FCAS, MAAA Pdf

This text introduces the commonly used, basic approaches for reserving and ratemaking in General Insurance. The methods are described through detailed examples that are linked from one chapter to another to illustrate their practical application. Also, professionalism requirements and standards of practice are presented to set the context for the methods and examples.

Author : Ermanno Pitacco
Publisher : Springer
Page : 172 pages
File Size : 41,5 Mb
Release : 2014-11-04
Category : Business & Economics
ISBN : 9783319122359

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Health Insurance by Ermanno Pitacco Pdf

Health Insurance aims at filling a gap in actuarial literature, attempting to solve the frequent misunderstanding in regards to both the purpose and the contents of health insurance products (and ‘protection products’, more generally) on the one hand, and the relevant actuarial structures on the other. In order to cover the basic principles regarding health insurance techniques, the first few chapters in this book are mainly devoted to the need for health insurance and a description of insurance products in this area (sickness insurance, accident insurance, critical illness covers, income protection, long-term care insurance, health-related benefits as riders to life insurance policies). An introduction to general actuarial and risk-management issues follows. Basic actuarial models are presented for sickness insurance and income protection (i.e. disability annuities). Several numerical examples help the reader understand the main features of pricing and reserving in the health insurance area. A short introduction to actuarial models for long-term care insurance products is also provided. Advanced undergraduate and graduate students in actuarial sciences; graduate students in economics, business and finance; and professionals and technicians operating in insurance and pension areas will find this book of benefit.

Author : Mark Goldburd,Anand Khare,Dan Tevet
Publisher : Unknown
Page : 106 pages
File Size : 49,8 Mb
Release : 2016-06-08
Category : Electronic
ISBN : 0996889728

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Generalized Linear Models for Insurance Rating by Mark Goldburd,Anand Khare,Dan Tevet Pdf

Author : William F. Bluhm
Publisher : ACTEX Publications
Page : 914 pages
File Size : 40,9 Mb
Release : 2012
Category : Business & Economics
ISBN : 9781566989329

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Group Insurance by William F. Bluhm Pdf

This text is a comprehensive treatment of all aspects of group insurance in the United States and Canada. It addresses life and health insurance as well as government programs and more specialized forms of insurance. Emphasis is placed on the actuarial aspects of this important field of insurance including pricing, regulation, underwriting, financial reporting, and modeling. Since its original publication in 1992, Group Insurance has become the resource of choice for experts as well as beginners. It is an essential tool for anyone who wishes to practice in the group benefits field. The Sixth Edition has been updated for the industry and regulatory changes which have occurred since 2007. Of particular note is the impact that healthcare reform in the United States will have on all facets of this topic.

Author : Marty Makary
Publisher : Bloomsbury Publishing USA
Page : 305 pages
File Size : 45,9 Mb
Release : 2019-09-10
Category : Health & Fitness
ISBN : 9781635574128

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The Price We Pay by Marty Makary Pdf

New York Times bestseller Business Book of the Year--Association of Business Journalists From the New York Times bestselling author comes an eye-opening, urgent look at America's broken health care system--and the people who are saving it--now with a new Afterword by the author. "A must-read for every American." --Steve Forbes, editor-in-chief, FORBES One in five Americans now has medical debt in collections and rising health care costs today threaten every small business in America. Dr. Makary, one of the nation's leading health care experts, travels across America and details why health care has become a bubble. Drawing from on-the-ground stories, his research, and his own experience, The Price We Pay paints a vivid picture of the business of medicine and its elusive money games in need of a serious shake-up. Dr. Makary shows how so much of health care spending goes to things that have nothing to do with health and what you can do about it. Dr. Makary challenges the medical establishment to remember medicine's noble heritage of caring for people when they are vulnerable. The Price We Pay offers a road map for everyday Americans and business leaders to get a better deal on their health care, and profiles the disruptors who are innovating medical care. The movement to restore medicine to its mission, Makary argues, is alive and well--a mission that can rebuild the public trust and save our country from the crushing cost of health care.

Author : Jeremy Keating
Publisher : Rethink Press
Page : 0 pages
File Size : 47,5 Mb
Release : 2024-03-05
Category : Business & Economics
ISBN : 1781338426

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Price Writer by Jeremy Keating Pdf

As a successful pricing leader, Jeremy Keating shows you how to take charge of your career and build a winning team in this fast-paced environment.

Author : Bernardo Nicoletti
Publisher : Springer Nature
Page : 542 pages
File Size : 48,6 Mb
Release : 2020-10-31
Category : Business & Economics
ISBN : 9783030584269

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Insurance 4.0 by Bernardo Nicoletti Pdf

Industry 4.0 has spread globally since its inception in 2011, now encompassing many sectors, including its diffusion in the field of financial services. By combining information technology and automation, it is now canvassing the insurance sector, which is in dire need of digital transformation. This book presents a business model of Insurance 4.0 by detailing its implementation in processes, platforms, persons, and partnerships of the insurance companies alongside looking at future developments. Filled with business cases in insurance companies and financial services, this book will be of interest to those academics and researchers of insurance, financial technology, and digital transformation, alongside executives and managers of insurance companies.

Author : Stephen J. Mildenhall,John A. Major
Publisher : John Wiley & Sons
Page : 564 pages
File Size : 43,7 Mb
Release : 2022-05-25
Category : Business & Economics
ISBN : 9781119756521

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Pricing Insurance Risk by Stephen J. Mildenhall,John A. Major Pdf

PRICING INSURANCE RISK A comprehensive framework for measuring, valuing, and managing risk Pricing Insurance Risk: Theory and Practice delivers an accessible and authoritative account of how to determine the premium for a portfolio of non-hedgeable insurance risks and how to allocate it fairly to each portfolio component. The authors synthesize hundreds of academic research papers, bringing to light little-appreciated answers to fundamental questions about the relationships between insurance risk, capital, and premium. They lean on their industry experience throughout to connect the theory to real-world practice, such as assessing the performance of business units, evaluating risk transfer options, and optimizing portfolio mix. Readers will discover: Definitions, classifications, and specifications of risk An in-depth treatment of classical risk measures and premium calculation principles Properties of risk measures and their visualization A logical framework for spectral and coherent risk measures How risk measures for capital and pricing are distinct but interact Why the cost of capital, not capital itself, should be allocated The natural allocation method and how it unifies marginal and risk-adjusted probability approaches Applications to reserve risk, reinsurance, asset risk, franchise value, and portfolio optimization Perfect for actuaries working in the non-life or general insurance and reinsurance sectors, Pricing Insurance Risk: Theory and Practice is also an indispensable resource for banking and finance professionals, as well as risk management professionals seeking insight into measuring the value of their efforts to mitigate, transfer, or bear nonsystematic risk.

Author : Anonim
Publisher : Unknown
Page : 119 pages
File Size : 45,9 Mb
Release : 2002
Category : Insurance
ISBN : 0642403155

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Insurance Industry Market Pricing Review by Anonim Pdf