Pricing in General Insurance

por Parodi, Pietro
Pricing in General Insurance
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ISBN: 978-1-4665-8144-9
Editorial: Taylor & Francis
Fecha de la edición: 2014
idioma: Ingles
Nº Pág.: 584


pvp.81.20 €

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Resumen del libro

Reseña: 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.
indice: Preface Acknowledgements Introductory Concepts The Pricing Process - A Gentle Start Insurance and Reinsurance Products The Policy Structure The Insurance Markets The Business Context: Things That Affect Insurance Pricing The Basic Pricing Process The Scientific Basis: Risk Loss Models and the Frequency/Severity Risk Costing Process Familiarise with the Risk Data Requirements for Pricing Setting the Inflation Assumptions Data Preparation Burning Cost Analysis What Is This Thing Called Modelling? Adjusting for IBNR Frequency Analysis Adjusting for IBNER Severity Analysis Aggregate Loss Modelling Identifying, Measuring and Communicating Uncertainty Determining the Premium Elements of Specialist Pricing Experience Rating for Non-Proportional Reinsurance Exposure Rating for Property Liability Rating Using Increased Limit Factor Curves Pricing Considerations for Specific Lines of Business Professional Indemnity Weather Risk Credit Risk Extended Warranty Miscellaneous Catastrophe Modelling Advanced Pricing Methods Credibility Theory Rating Factors Selection and Generalised Linear Modelling Multi-Level Factors and Smoothing Pricing Correlated Lines of Business Insurance Structure Optimisation References