Statistical and Probabilistic Methods in Actuarial Science (Hardcover)

Philip J. Boland

ISBN 10: 1584886951 / ISBN 13: 9781584886952

Published by Taylor & Francis Inc, 2007

About this Item

Hardcover. Statistical and Probabilistic Methods in Actuarial Science covers many of the diverse methods in applied probability and statistics for students aspiring to careers in insurance, actuarial science, and finance. The book builds on students existing knowledge of probability and statistics by establishing a solid and thorough understanding of these methods. It also emphasizes the wide variety of practical situations in insurance and actuarial science where these techniques may be used.Although some chapters are linked, several can be studied independently from the others. The first chapter introduces claims reserving via the deterministic chain ladder technique. The next few chapters survey loss distributions, risk models in a fixed period of time, and surplus processes, followed by an examination of credibility theory in which collateral and sample information are brought together to provide reasonable methods of estimation. In the subsequent chapter, experience rating via no claim discount schemes for motor insurance provides an interesting application of Markov chain methods. The final chapters discuss generalized linear models and decision and game theory. Developed by an author with many years of teaching experience, this text presents an accessible, sound foundation in both the theory and applications of actuarial science. It encourages students to use the statistical software package R to check examples and solve problems. Covers many of the diverse methods in applied probability and statistics. This book also emphasizes the variety of practical situations in insurance and actuarial science where these techniques may be used. It examines generalized linear models, credibility theory, game theory, and simulation techniques and contains numerous examples and problems. Shipping may be from multiple locations in the US or from the UK, depending on stock availability.

Seller Inventory # 9781584886952

Bibliographic Details

• Title: Statistical and Probabilistic Methods in Actuarial Science (Hardcover)
• Publisher: Taylor & Francis Inc
• Publication Date: 2007
• Language: English
• ISBN 10: 1584886951
• ISBN 13: 9781584886952
• Binding: Hardcover
• Edition: 1st Edition
• Condition: new

About this title

Synopsis

Statistical and Probabilistic Methods in Actuarial Science covers many of the diverse methods in applied probability and statistics for students aspiring to careers in insurance, actuarial science, and finance. The book builds on students’ existing knowledge of probability and statistics by establishing a solid and thorough understanding of these methods. It also emphasizes the wide variety of practical situations in insurance and actuarial science where these techniques may be used.

Although some chapters are linked, several can be studied independently from the others. The first chapter introduces claims reserving via the deterministic chain ladder technique. The next few chapters survey loss distributions, risk models in a fixed period of time, and surplus processes, followed by an examination of credibility theory in which collateral and sample information are brought together to provide reasonable methods of estimation. In the subsequent chapter, experience rating via no claim discount schemes for motor insurance provides an interesting application of Markov chain methods. The final chapters discuss generalized linear models and decision and game theory.

Developed by an author with many years of teaching experience, this text presents an accessible, sound foundation in both the theory and applications of actuarial science. It encourages students to use the statistical software package R to check examples and solve problems.

About the Author

Philip J. Boland