Research ArticleOpen accessPhrase in the titleEstimating the Claim Severity Distribution using Variable Neighborhood SearchKunjira Kingphai, Samruam ChongcharoenIn this study, Variable Neighborhood Search (VNS) is utilized to estimate the parameters of actual motor insurance claims data set and compared them obtained by the Moment Estimation Methods (MOM) and Maximum likelihood Estimation Method (MLE) which are known as a conscientious method. Then, the Kolmogorov-Smirnov test (K-S) is used to show how well the selected distribution fits the actual … …American Journal of Applied Sciences, Vol. 13, Issue 12 · 19 Dec 2016 · 7,326 accessesView PDFCite
Research ArticleOpen accessIn the abstractHandling the Dependence of Claim Severities with Copula ModelsYulia Resti, Noriszura Ismail, Saiful Hafizah JaamanProblem statement: Several studies have been carried out on the modeling of claim severity data in actuarial literature as well as in insurance practice. Since it is well established that the claim cost distributions generally have positive support and are positively skewed, the regression models of Gamma and Lognormal have been used by practitioners for modeling claim severities. However, the … …Journal of Mathematics and Statistics, Vol. 6, Issue 2 · 30 Jun 2010 · 7,528 accessesView PDFCite
Research ArticleOpen accessAll words, across the recordESTIMATING LOSS SEVERITY DISTRIBUTION: CONVOLUTION APPROACHRo J. PakFinancial loss can be classified into two types such as expected loss and unexpected loss. A current definition seeks to separate two losses from a total loss. In this article, however, we redefine a total loss as the sum of expected and unexpended losses; then the distribution of loss can be considered as the convolution of the distributions of both … …Journal of Mathematics and Statistics, Vol. 10, Issue 2 · 2 May 2014 · 6,896 accessesView PDFCite