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Modelling Motor Insurance Claim Frequency and Severity Using Gradient Boosting
Risks, 2023 Modelling claim frequency and claim severity are topics of great interest in property-casualty insurance for supporting underwriting, ratemaking, and reserving actuarial decisions. Standard Generalized Linear Models (GLM) frequency–severity models assume
Carina Clemente +2 more
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Tree-based machine learning methods for predicting vehicle insurance claim size [PDF]
Frontiers in Big DataVehicle insurance claim severity modeling requires accurate and interpretable methods that can handle skewed and heterogeneous loss data. This study provides a structured empirical comparison between classical parametric regression models and tree-based ...
Edossa Merga Terefe +2 more
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Stochastic gradient boosting frequency-severity model of insurance claims.
PLoS ONE, 2020 The standard GLM and GAM frequency-severity models assume independence between the claim frequency and severity. To overcome restrictions of linear or additive forms and to relax the independence assumption, we develop a data-driven dependent frequency ...
Xiaoshan Su, Manying Bai
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Assessing the Performance of Random Forests for Modeling Claim Severity in Collision Car Insurance
Risks, 2021 For calculating non-life insurance premiums, actuaries traditionally rely on separate severity and frequency models using covariates to explain the claims loss exposure. In this paper, we focus on the claim severity. First, we build two reference models,
Yves Staudt, Joël Wagner
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Cogent Economics & Finance, 2017 During 2012–2015, the motor insurance in Russia received considerable attention both from the parts of the Russian government and from the insurance business. This was caused, in particular, by significant losses from the side of insurance companies that
Evgenii V. Gilenko, Elena A. Mironova
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Ruin Time and Severity for a Lévy Subordinator Claim Process: A Simple Approach
Risks, 2013 This paper is concerned with an insurance risk model whose claim process is described by a Lévy subordinator process. Lévy-type risk models have been the object of much research in recent years. Our purpose is to present, in the case of a subordinator, a
Claude Lefèvre, Philippe Picard
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MANAGING HEART RELATED DISEASE RISKS IN BPJS KESEHATAN USING COLLECTIVE RISK MODELS
Media Statistika, 2023 BPJS Kesehatan is a legal entity established to administer the health service program using the insurance system. Heart related diseases is a disease with the largest coverage cost in Indonesia.
Gede Ary Prabha Yogesswara +2 more
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Claim Modeling and Insurance Premium Pricing Under A Bonus–Malus System in Motor Insurance
International Journal of Applied Mathematics and Computer Science, 2023 Accurately modeling claims data and determining appropriate insurance premiums are vital responsibilities for non-life insurance firms. This article presents novel models for claims that offer improved precision in fitting claim data, both in terms of ...
Ieosanurak Weenakorn +2 more
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Bonus-Malus Premiums Based on Claim Frequency and the Size of Claims
Risks, 2022 The bonus-malus system (BMS) is one of the most widely used tools in merit-rating automobile insurance, with the primary goal of ensuring that fair premiums are paid by all policyholders. The traditional BMS is dependent only on the claim frequency. Thus,
Adisak Moumeesri, Tippatai Pongsart
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PHASE-TYPE DISTRIBUTIONS FOR CLAIM SEVERITY REGRESSION MODELING [PDF]
ASTIN Bulletin, 2022 AbstractThis paper addresses the task of modeling severity losses using segmentation when the data distribution does not fall into the usual regression frameworks. This situation is not uncommon in lines of business such as third-party liability insurance, where heavy-tails and multimodality often hamper a direct statistical analysis. We propose to use
openaire +3 more sources