Pricing in General Insurance
Chapman & Hall/CRC (Verlag)
978-0-367-76903-1 (ISBN)
The first edition of the book proved very popular among students and practitioners with its pragmatic approach, informal style, and wide-ranging selection of topics, including:
Background and context for pricing
Process of experience rating, ranging from traditional approaches (burning cost analysis) to more modern approaches (stochastic modelling)
Exposure rating for both property and casualty products
Specialised techniques for personal lines (e.g., GLMs), reinsurance, and specific products such as credit risk and weather derivatives
General-purpose techniques such as credibility, multi-line pricing, and insurance optimisation
The second edition is a substantial update on the first edition, including:
New chapter on pricing models: their structure, development, calibration, and maintenance
New chapter on rate change calculations and the pricing cycle
Substantially enhanced treatment of exposure rating, increased limit factors, burning cost analysis
Expanded treatment of triangle-free techniques for claim count development
Improved treatment of premium building and capital allocation
Expanded treatment of machine learning
Enriched treatment of rating factor selection, and the inclusion of generalised additive models
The book delivers a practical introduction to all aspects of general insurance pricing and is aimed at students of general insurance and actuarial science as well as practitioners in the field. It is complemented by online material, such as spreadsheets which implement the techniques described in the book, solutions to problems, a glossary, and other appendices – increasing the practical value of the book.
Pietro Parodi has worked in general insurance pricing since 2005. He is currently Head of Methods and Tools for SCOR Specialty Insurance, and since 2012 a part-time lecturer at Bayes (formerly Cass) Business School. He has previously worked at Willis, Aon Benfield and Swiss Re. He is a fellow of the Institute and Faculty of Actuaries in the UK. In his previous professional incarnations, he was a network administrator/IT project manager and a research scientist in the fields of artificial intelligence and neuroscience. He has a MSc and a PhD in Physics from the University of Genoa, Italy. Prior to university, he studied as an electronics technician at St John Bosco’s secondary school in Genoa, where he could have developed some serious practical skills had his attention not been hijacked by the maths around Laplace transforms. In 2012 he received the Brian Hey Award for his paper Triangle-free reserving, which he presented at GIRO. He lives in East London with his wife and his four children.
1.The Pricing Process: A Gentle Start. 2. Insurance and Reinsurance Products. 3.The Cover Structure.4. The Insurance Markets. 5. Pricing in Context. 6. The Scientific Basis for Pricing: Risk Theory. 7. Familiarise Yourself with the Risk. 8. Data Requirements for Pricing. 9. Setting the Loss Inflation Assumptions. 10. Data Preparation. 11. The Burning Cost Approach. 12. What Is This Thing Called Modelling? A Gentle Introduction to Machine Learning. 13. Frequency Modelling: Adjusting for Claim Count IBNR. 14. Frequency Modelling: Selecting and Calibrating a Frequency Model. 15. Severity Modelling: Adjusting for IBNER and Other Factors. 16. Severity Modelling: Selecting and Calibrating a Severity Model. 17. Aggregate Loss Modelling. 18. Identifying, Measuring, and Communicating Uncertanity. 19. Setting the Premium. 20. The Pricing Cycle and Rate Change Calculations. 21. Experience Rating for Non-Proportional Reinsurance. 22. Exposure Rating for Property Insurance. 23. Liability Rating Using Increased Limit Factor Curves. 24. Pricing Considerations for Specific Lines of Business. 25. Catastrophe Modelling in Pricing. 26. Credibilty Theory. 27. Rating Factor Selection and Calibration: GLMs, GAMs, and Regularisation. 28. Multilevel Factors and Smoothing. 29. Pricing Multiple Lines of Business and Risks. 30. Insurance Structure Optimisation. 31. An Introduction to Pricing Models.
| Erscheinungsdatum | 17.04.2023 |
|---|---|
| Reihe/Serie | Chapman & Hall/CRC Series in Actuarial Science |
| Zusatzinfo | 218 Line drawings, black and white; 218 Illustrations, black and white |
| Sprache | englisch |
| Maße | 178 x 254 mm |
| Gewicht | 1545 g |
| Themenwelt | Mathematik / Informatik ► Mathematik ► Angewandte Mathematik |
| Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Versicherungsbetriebslehre | |
| ISBN-10 | 0-367-76903-4 / 0367769034 |
| ISBN-13 | 978-0-367-76903-1 / 9780367769031 |
| Zustand | Neuware |
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