Statistical Tools for Modeling Claim Severity
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216275%3A25410%2F14%3A39898348" target="_blank" >RIV/00216275:25410/14:39898348 - isvavai.cz</a>
Result on the web
<a href="http://is.muni.cz/do/econ/sborniky/2014/proceedings-EFS-2014.pdf" target="_blank" >http://is.muni.cz/do/econ/sborniky/2014/proceedings-EFS-2014.pdf</a>
DOI - Digital Object Identifier
—
Alternative languages
Result language
angličtina
Original language name
Statistical Tools for Modeling Claim Severity
Original language description
The main aim of the paper is point out on a new approach to statistical modelling of claims severity by using quantile functions. In addition to explain the theoretical principles and present the application of claims severity models that based on quantile function. Claims severity in non-life insurance refers to the monetary loss of an insurance claim and is usually modeled as a non-negative continuous random variable. The conditions under which claims are performed and data are collected allow considering the claims severity to be samples from specific heavy-tailed probability distribution. Probability models of claims severity creates the basis for solving of many substantial problems in non-life insurance company. To find the models based on empirical data can be used several methods such as goodness of fit tests, kernel densities, composition distributions or mixture distributions. In this regard, quantile methods provide an appropriate and flexible approach to the probability mod
Czech name
—
Czech description
—
Classification
Type
D - Article in proceedings
CEP classification
BB - Applied statistics, operational research
OECD FORD branch
—
Result continuities
Project
—
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Proceedings of the 11th International Scientific Conference European Financial Systems 2014
ISBN
978-80-210-7153-7
ISSN
—
e-ISSN
—
Number of pages
7
Pages from-to
288-294
Publisher name
Masarykova univerzita
Place of publication
Brno
Event location
Lednice
Event date
Jun 12, 2014
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
—