Stochastic Claims Reserving Methods in Insurance
Language: English
Published by Wiley, 2008
- Hardcover
- Used
Condition: Used - Good
£ 41.04
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Befriedigend/Good: Durchschnittlich erhaltenes Buch bzw. Schutzumschlag mit Gebrauchsspuren, aber vollständigen Seiten. / Describes the average WORN book or dust jacket that has all the pages present.
Seller Inventory # M00470723467-G
- Title
- Stochastic Claims Reserving Methods in Insurance
- Author
- Wüthrich, Mario V.
- Publisher
- Wiley
- Publication year
- 2008
- Condition
- good
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 0470723467
- ISBN 13
- 9780470723463
Following several high-profile company insolvencies, regulatory requirements have moved towards a risk-adjusted basis which has lead to the Solvency II developments. The key focus in the new regime is that financial companies need to analyze adverse developments in their portfolios. Reserving actuaries now have to not only estimate reserves for the outstanding loss liabilities but also to quantify possible shortfalls in these reserves that may lead to potential losses. Such an analysis requires stochastic modeling of loss liability cash flows and it can only be done within a stochastic framework. Therefore stochastic loss liability modeling and quantifying prediction uncertainties has become standard under the new legal framework for the financial industry.
This book covers all the mathematical theory and practical guidance needed in order to adhere to these stochastic techniques. Starting with the basic mathematical methods, working right through to the latest developments relevant for practical applications; readers will find out how to estimate total claims reserves while at the same time predicting errors and uncertainty are quantified. Accompanying datasets demonstrate all the techniques, which are easily implemented in a spreadsheet. A practical and essential guide, this book is a must-read in the light of the new solvency requirements for the whole insurance industry.
"Synopsis" may belong to another edition of this title.
About the Author
Michael Merz has been Assistant Professor for Statistics, Risk and Insurance at the University of Tübingen since October 2006. He was awarded the internationally renowned SCOR Actuarial Prize 2004 for his doctoral thesis in risk theory. After completing his doctorate, he worked in the actuarial department of the Baloise insurance company in Basel/Switzerland and gained valuable practical working experience in actuarial science and quantitative risk management. His main research interests are actuarial science and quantitative risk management, with special emphasis on claims reserving and risk theory. He is a referee for many academic journals and has published extensively in leading academic journals, including the ASTIN Bulletin and the Scandinanvian Actuarial Journal.
"About the title" may belong to another edition of this title.
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