Abstract
In this note we discuss the various probability models for non-life insurance applications. Both the Poisson Process models as well as the more general Renewal Process model are discussed as models for the Claim arrival process. The Weibull, Gamma, Truncated Normal, Lognormal, Pareto and Burr distributions are discussed as possible models for the claim sizes.
Additional Information
| Product Type | Technical Note |
|---|---|
| Reference No. | QM0252TEC |
| Title | Probability Models for Non-Life Insurance Applications |
| Pages | 9 |
| Published on | Oct 17, 2006 |
| Authors | Laha, Arnab Kumar; |
| Area | Quantitative Methods (QM) |
| Discipline | Economics, Operations Management |
| Sector | Education |
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