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

Thomas Mikosch

ISBN 10: 3540406506 / ISBN 13: 9783540406501

Published by Springer Verlag GmbH & Co. KG, 2003

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Bibliographic Details

Title: Non-life Insurance Mathematics: An ...

Publisher: Springer Verlag GmbH & Co. KG

Publication Date: 2003

Binding: Soft cover

Condition: New

About this title

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 Bühlmann 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.

Product Description:

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