Loss Models: From Data to Decisions

Name: Loss Models: From Data to Decisions
Brand: Wiley
SKU: 9781119523789
Price: 13760.0 INR
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by Stuart a. Klugman

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ISBN13: 9781119523789
Binding: Hardcover
Subject: N/A
Publisher: Wiley
Publisher Imprint: Wiley
Publication Date: January 17, 2019
Pages: 536
Original Price: USD 176.95
Language: English
Edition: N/A
Item Weight: 430 grams
BISAC Subject(s): Insurance / Risk Assessment & Management

About The Book

A guide that provides in-depth coverage of modeling techniques used throughout many branches of actuarial science, revised and updated

Now in its fifth edition, Loss Models: From Data to Decisions puts the focus on material tested in the Society of Actuaries (SOA) newly revised Exams STAM (Short-Term Actuarial Mathematics) and LTAM (Long-Term Actuarial Mathematics). Updated to reflect these exam changes, this vital resource offers actuaries, and those aspiring to the profession, a practical approach to the concepts and techniques needed to succeed in the profession. The techniques are also valuable for anyone who uses loss data to build models for assessing risks of any kind.

Loss Models contains a wealth of examples that highlight the real-world applications of the concepts presented, and puts the emphasis on calculations and spreadsheet implementation. With a focus on the loss process, the book reviews the essential quantitative techniques such as random variables, basic distributional quantities, and the recursive method, and discusses techniques for classifying and creating distributions. Parametric, non-parametric, and Bayesian estimation methods are thoroughly covered. In addition, the authors offer practical advice for choosing an appropriate model. This important text:

• Presents a revised and updated edition of the classic guide for actuaries that aligns with newly introduced Exams STAM and LTAM

• Contains a wealth of exercises taken from previous exams

• Includes fresh and additional content related to the material required by the Society of Actuaries (SOA) and the Canadian Institute of Actuaries (CIA)

• Offers a solutions manual available for further insight, and all the data sets and supplemental material are posted on a companion site

Written for students and aspiring actuaries who are preparing to take the SOA examinations, Loss Models offers an essential guide to the concepts and techniques of actuarial science.

About The Author

STUART A. KLUGMAN, PHD, FSA, CERA, is Staff Fellow (Education) at the Society of Actuaries (SOA) and Principal Financial Group Distinguished Professor Emeritus of Actuarial Science at Drake University. He has served as SOA vice president.

HARRY H. PANJER, PHD, FSA, FCIA, CERA, HonFIA, is Distinguished Professor Emeritus in the Department of Statistics and Actuarial Science at the University of Waterloo, Canada. He has served as CIA president and as SOA president.

GORDON E. WILLMOT, PHD, FSA, FCIA, is Munich Re Chair in Insurance and Professor in the Department of Statistics and Actuarial Science at the University of Waterloo, Canada.

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