Effective Statistical Methods for Group Insurance

by Nanak Chand



Book Details

Language : English
Publication Date : 3/23/2003

Format : Softcover
Dimensions : 7x9.5
Page Count : 144
ISBN : 9781553957744

About the Book

    Given the risk characteristics and the observed claim cost for the experience period, this book describes some ways in which statistical methods can be used in the calculation of net premiums for individual groups having non-identical risk characteristics and credibility generally less than one.

    The applications result in unique credibility formulas that take into account the individual characteristics, and are expected to provide adequate, equitable, and competitive premiums. The underlying methods are designed to be consistent with current actuarial practice, though giving attention to occasional need for suitable modifications.

    Since stop loss claim costs are a function of the behavior of the tails of their respective distributions, this part of the book assesses such claim cost using well established parametric models, and provides comprehensive tables of the corresponding stop loss premiums.

About the Author

    Nanak Chand has a Ph.D. in mathematical statistics from the University of North Carolina, is a fellow of the Society of Actuaries, a member of the American Academy of Actuaries, and is enrolled to perform actuarial services under the Employee Retirement Income Security Act (ERISA). He has made noteworthy contributions to statistical methodology and applications as a researcher and as a consultant in the academic as well as in public and private sectors including insurance organizations and employee benefit plans. He has published a number of articles and reviews in statistics in professional journals and in the proceedings of various research conferences.