Loss Distributions for Actuarial Models
- 3.6
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Brief Introduction
By MJ the Fellow ActuaryDescription
This course aims to introduce student actuaries to the following criteria.
It also discusses how to do the below with R Studio
Loss distributions, with and without risk sharing
1.1.1 Describe the properties of the statistical distributions which are suitable for modelling individual and aggregate losses.
1.1.2 Explain the concepts of excesses (deductibles), and retention limits.
1.1.3 Describe the operation of simple forms of proportional and excess of loss reinsurance.
1.1.4 Derive the distribution and corresponding moments of the claim amounts paid by the insurer and the reinsurer in the presence of excesses (deductibles) and reinsurance.
1.1.5 Estimate the parameters of a failure time or loss distribution when the data is complete, or when it is incomplete, using maximum likelihood and the method of moments.
1.1.6 Fit a statistical distribution to a dataset and calculate appropriate goodness of fit measures.
The course also contains compound distributions and how to represent their moments with the child distributions.
Requirements
- Requirements
- Solid understanding of Actuarial Statistics
Michael Jordan
3.6 Raiting
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Loss Distributions for Actuarial Models
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By MJ the Fellow Actuary This course aims to introduce student actuaries to the following criteria. It also discusses how to do the below with R Studio...
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