Non-Life Insurance Mathematics: An Introduction with Stochastic Processes (Universitext) - Softcover

Mikosch, Thomas

Softcover

ISBN 10: 3540406506 ISBN 13: 9783540406501

Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. K, 2003

Synopsis

This book offers a mathematical introduction to non-life insurance and, at the same time, to a multitude of applied stochastic processes. It gives detailed discussions of the fundamental models for claim sizes, claim arrivals, the total claim amount, and their probabilistic properties. Throughout the book the language of stochastic processes is used for describing the dynamics of an insurance portfolio in claim size space and time. In addition to the standard actuarial notions, the reader learns about the basic models of modern non-life insurance mathematics: the Poisson, compound Poisson and renewal processes in collective risk theory and heterogeneity and Buhlmann models in experience rating.The reader gets to know how the underlying probabilistic structures allow one to determine premiums in a portfolio or in an individual policy. Special emphasis is given to the phenomena which are caused by large claims in these models. What makes this book special are more than 100 figures and tables illustrating and visualizing the theory. Every section ends with extensive exercises. They are an integral part of this course since they support the access to the theory. The book can serve either as a text for an undergraduate/graduate course on non-life insurance mathematics or applied stochastic processes. Its content is in agreement with the European "Groupe Consultatif" standards. An extensive bibliography, annotated by various comments sections with references to more advanced relevant literature, make the book broadly and easiliy accessible.

About this title

Product Description

Non-life Insurance Mathematics: An Introduction With Stochastic Processes (universitext)

Review

From the reviews: "The book offers a mathematical introduction to non-life insurance and, at the same time, to a multitude of applied stochastic processes. It gives detailed discussions of the fundamental models for claim sizes, claim arrivals, the total claim amount, and their probabilistic properties. a ] The reader gets to know how the underlying probabilistic structures allow one to determine premiums in a portfolio or in an individual policy. Special emphasis is given to the phenomena which are caused by large claims in these models." (Zentralblatt fA1/4r Didaktik der Mathematik, November, 2004) "The authora (TM)s aim to bring some of the standard stochastic models of non-life insurance mathematics to the attention of a wide audience a ] can definitely be reached by this textbook. It is well-written a ] . Many figures and tables in this book help in illustrating and visualizing the developed theory. Moreover, every section ends with an extensive collection of exercises a ] and should help the reader in accessing the theory." (Josef Steinebach, Zentralblatt MATH, Vol. 1033 (8), 2004)

Edition details

• Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. K
• Publication date: 2003
• Language: English
• ISBN 10: 3540406506
• ISBN 13: 9783540406501
• Binding: Paperback
• Edition number: 2
• Number of pages: 246