Research ArticleOpen accessIn the keywordsApproximation of Aggregate Losses Using SimulationMohamed Amraja Mohamed, Ahmad Mahir Razali, Noriszura IsmailProblem statement: The modeling of aggregate losses is one of the main objectives in actuarial theory and practice, especially in the process of making important business decisions regarding various aspects of insurance contracts. The aggregate losses over a fixed time period is often modeled by mixing the distributions of loss frequency and severity, whereby the distribution resulted from this approach … …Journal of Mathematics and Statistics, Vol. 6, Issue 3 · 30 Sep 2010 · 7,666 accessesView PDFCite