Actuarial Science: Collective Risk Models in General Insurance

Introduction

What this guide covers

Formal probabilistic analysis of the aggregate accident rate process: mathematical characterization of frequency and severity under conditions of uncertainty and risk.

Overview

Topics covered

• Introduction
• Collective Risk Models
• Introduction and Foundations of Risk Theory
• 1.1 Formal Comparison: Individual Model vs. Collective Model
• 1.2 Formulation of the Aggregate Process in the Collective Model
• The Severity Process (Claim Severity)

Related concepts

Main connections

• Poisson distribution
• Variance & standard deviation
• Binomial distribution
• Calculus & differentiation
• Mean & expected value
• Skewness & kurtosis

Compatible notation

Mathematical sample in LaTeX

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