October 2014
Intermediate to advanced
584 pages
22h 2m
English
Content preview from Pricing in General Insurance
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Identifying, Measuring and
Communicating Uncertainty
In the previous chapters, we learned how to produce a stochastic model for our aggregate
losses, which encapsulates our prediction for the losses in the next policy period. On the
basis of this model, underwriters and clients may (if they trust us) take decisions on how
much premium to charge (underwriters), whether to buy a policy and how much risk to
retain (clients) and so on.
It is only fair to communicate how accurate our predictions are. A statement such as, ‘the
expected losses to this policy for the year 2012 are £1.62M’ is neither right nor wrong if you
are not also able, to some ...
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I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.