Pricing in General Insurance
eBook - PDF

Pricing in General Insurance

  1. 584 pages
  2. English
  3. PDF
  4. Available on iOS & Android
eBook - PDF

Pricing in General Insurance

Book details
Book preview
Table of contents
Citations

About This Book

Based on the syllabus of the actuarial industry course on general insurance pricing- with additional material inspired by the author's own experience as a practitioner and lecturer- Pricing in General Insurance presents pricing as a formalised process that starts with collecting information about a particular policyholder or risk and ends with a co

Frequently asked questions

Simply head over to the account section in settings and click on “Cancel Subscription” - it’s as simple as that. After you cancel, your membership will stay active for the remainder of the time you’ve paid for. Learn more here.
At the moment all of our mobile-responsive ePub books are available to download via the app. Most of our PDFs are also available to download and we're working on making the final remaining ones downloadable now. Learn more here.
Both plans give you full access to the library and all of Perlego’s features. The only differences are the price and subscription period: With the annual plan you’ll save around 30% compared to 12 months on the monthly plan.
We are an online textbook subscription service, where you can get access to an entire online library for less than the price of a single book per month. With over 1 million books across 1000+ topics, we’ve got you covered! Learn more here.
Look out for the read-aloud symbol on your next book to see if you can listen to it. The read-aloud tool reads text aloud for you, highlighting the text as it is being read. You can pause it, speed it up and slow it down. Learn more here.
Yes, you can access Pricing in General Insurance by Pietro Parodi in PDF and/or ePUB format, as well as other popular books in Business & Finance. We have over one million books available in our catalogue for you to explore.

Information

Publisher
Chapman and Hall/CRC
Year
2014
ISBN
9781466581487
Edition
1
Topic
Business
Subtopic
Finance
Index
Business
15
Pricing 
Process
Claims 
experience 
and 
historical 
exposure 
are 
as 
follows:
Fiscal 
year 
(1/4)
Number
of 
pubs
2009/10
2010/11
2011/12
2012/13
2013/14
2014/15
653
711
698
702
710
720
Policy 
year 
(1/10)
Total 
paid
Total 
O/S
Recoveries
2009/2010
2010/2011
2011/2012
2012/2013
2013/2014
Grand 
total
9,440,692
1,590,430
102,715
3,266,198
3,148,272
1,608,092
1,324,927
93,203
4617
21,182
589,309
975,322
97,381
728
1987
2619
–
–
Data 
as 
of 
12 
June 
2014. 
The 
historical 
amount 
of 
each 
claim 
is 
split 
into 
a 
paid 
component, 
an 
outstanding 
(O/S) 
component 
and 
recoveries 
from 
a 
third 
party. 
The 
overall 
incurred 
amount 
is 
therefore 
Incurred 
= 
Paid 
+ 
Outstanding 
− 
Recoveries.
Also 
consider 
(or 
not) 
that 
from 
2011 
onwards, 
a 
new 
smoke 
detection 
system 
had 
been 
installed 
that, 
according 
to 
the 
manufacturer, 
would 
decrease 
by 
20% 
the 
probability 
that 
a 
fire 
turns 
into 
an 
actual 
loss.
By 
assuming 
a 
4% 
claims 
inflation 
for 
property 
claims 
and 
by 
making 
sensible 
(and 
explicit) 
assumptions 
about 
everything 
else 
as 
needed, 
estimate 
the 
technical 
premium 
for 
policy 
year 
2014/2015.
Explain 
the 
limitations 
of 
your 
analysis.
2. 
Explain 
the 
relative 
merits 
of 
using 
the 
number 
of 
employees 
(or 
employee-years) 
and 
wageroll 
as 
measures 
of 
exposure 
for 
employers’ 
liability 
for 
pricing 
purposes.

Table of contents

  1. Front Cover
  2. Contents
  3. Preface
  4. Acknowledgements
  5. Chapter 1: Pricing Process: A Gentle Start
  6. Chapter 2: Insurance and Reinsurance Products
  7. Chapter 3: The Policy Structure
  8. Chapter 4: The Insurance Markets
  9. Chapter 5: Pricing in Context
  10. Chapter 6: The Scientific Basis for Pricing: Risk Loss Models and the Frequency/Severity Risk Costing Process
  11. Chapter 7: Familiarise Yourself with the Risk
  12. Chapter 8: Data Requirements for Pricing
  13. Chapter 9: Setting the Claims Inflation Assumptions
  14. Chapter 10: Data Preparation
  15. Chapter 11: Burning Cost Analysis
  16. Chapter 12: What Is This Thing Called Modelling?
  17. Chapter 13: Frequency Modelling: Adjusting for Claim Count IBNR
  18. Chapter 14: Frequency Modelling: Selecting and Calibrating a Frequency Model
  19. Chapter 15: Severity Modelling: Adjusting for IBNER and Other Factors
  20. Chapter 16: Severity Modelling: Selecting and Calibrating a Severity Model
  21. Chapter 17: Aggregate Loss Modelling
  22. Chapter 18: Identifying, Measuring and Communicating Uncertainty
  23. Chapter 19: From Costing to Pricing
  24. Chapter 20: Experience Rating for Non-Proportional Reinsurance
  25. Chapter 21: Exposure Rating for Property
  26. Chapter 22: Liability Rating Using Increased Limit Factor Curves
  27. Chapter 23: Pricing Considerations for Specific Lines of Business
  28. Chapter 24: Catastrophe Modelling
  29. Chapter 25: Credibility Theory
  30. Chapter 26: Rating Factor Selection and Generalised Linear Modelling
  31. Chapter 27: Multilevel Factors and Smoothing
  32. Chapter 28: Pricing Multiple Lines of Business and Risks
  33. Chapter 29: Insurance Structure Optimisation
  34. References
  35. Back Cover