Bonus–Malus systems with Weibull distributed claim severities
| العنوان: | Bonus–Malus systems with Weibull distributed claim severities |
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| المؤلفون: | Athanasios A. Pantelous, Corina Constantinescu, Weihong Ni |
| المصدر: | Annals of Actuarial Science. 8:217-233 |
| بيانات النشر: | Cambridge University Press (CUP), 2014. |
| سنة النشر: | 2014 |
| مصطلحات موضوعية: | Statistics and Probability, Economics and Econometrics, Lévy distribution, Bayesian probability, Negative binomial distribution, Pareto principle, Pricing strategies, Statistics, Bonus-malus, Econometrics, Statistics, Probability and Uncertainty, Randomness, Weibull distribution, Mathematics |
| الوصف: | One of the pricing strategies for Bonus–Malus (BM) systems relies on the decomposition of the claims’ randomness into one part accounting for claims’ frequency and the other part for claims’ severity. By mixing an exponential with a Lévy distribution, we focus on modelling the claim severity component as a Weibull distribution. For a Negative Binomial number of claims, we employ the Bayesian approach to derive the BM premiums for Weibull severities. We then conclude by comparing our explicit formulas and numerical results with those for Pareto severities that were introduced by Frangos & Vrontos. |
| تدمد: | 1748-5002 1748-4995 |
| DOI: | 10.1017/s1748499514000062 |
| URL الوصول: | https://explore.openaire.eu/search/publication?articleId=doi_________::dcae4c736a1d872e5ddcad9a1c3027fb https://doi.org/10.1017/s1748499514000062 |
| Rights: | CLOSED |
| رقم الانضمام: | edsair.doi...........dcae4c736a1d872e5ddcad9a1c3027fb |
| قاعدة البيانات: | OpenAIRE |
| تدمد: | 17485002 17484995 |
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| DOI: | 10.1017/s1748499514000062 |