October 2014
Intermediate to advanced
584 pages
22h 2m
English
Content preview from Pricing in General Insurance
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474 Pricing in General Insurance
26.5 Questions
1. You are an actuary for a small insurance company that sells (amongst other things)
personal lines household insurance, and you have been asked to look at the factors
affecting the number of claims, Y, for different categories of policyholders. The
data available to you for each policy are
• Number of claims (Y)
• Factors (X1, X2, X3, X4, X5, X6)
• Exposure amount (£Z)
a. Describe how a GLM differs from a standard multivariate linear model.
b. State what GLM Y = f(X1,…X6) you would use to capture the dependency of
Y on X1 to X6. Ignore terms that combine more than one factor, for examp ...
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