3 results for “claim size distribution”

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Research ArticleOpen accessIn the keywordsFitting of Finite Mixture Distributions to Motor Insurance ClaimsP. Sattayatham, T. TalangtamProblem statement: The modeling of claims is an important task of actuaries. Our problem is in modelling the actual motor insurance claim data set. In this study, we show that the actual motor insurance claim can be fitted by a finite mixture model. Approach: Firstly, we analyse the actual data set and then we choose the finite mixture Lognormal distributions … …Journal of Mathematics and Statistics, Vol. 8, Issue 1 · 16 Jan 2012 · 9,300 accessesView PDF Cite

Research ArticleOpen accessIn the abstractASYMPTOTIC BEHAVIOR OF FINITE-TIME RUIN PROBABILITY IN A BY-CLAIM RISK MODEL WITH CONSTANT INTEREST RATELei WangThis study investigates the ruin probability of a renewal risk model with constant interest rate and by-claim parts. We assume that the claim size and the inter-arrival time satisfy a certain dependent structure with some additional assumptions on their distribution functions. In particular, we study the asymptotic behavior of P(R*δ´ (t, x) >x), which holds uniformly in a finite interval. … …Journal of Mathematics and Statistics, Vol. 10, Issue 3 · 5 Aug 2014 · 6,985 accessesView PDF Cite

Research ArticleOpen accessIn the abstractDividend Maximization in the Cramer-Lundberg Model using Homotopy Analysis MethodJuma Kasozi, Fred Mayambala, Charles Wilson MaheraProblem statement: We used the Homotopy Analysis Method (HAM) to numerically compute the value function of the dividend payment in the basic insurance process. Approach: The process is a constant income stream from premiums which is subtracted a claim process of the Poisson type. Further, an allowance for payment of dividends to share holders was incorporated. Results: The case when … …Journal of Mathematics and Statistics, Vol. 7, Issue 1 · 31 Jan 2011 · 7,018 accessesView PDF Cite