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Property and casualty insurance pricing with GLMs

In: Statistical Tools for Finance and Insurance

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  • Jan Iwanik

    (RBS Insurance)

Abstract

The purpose of insurance rate making is to ensure that the book of business generates enough revenue to pay claims, expenses, and make profit. Apart from managing the overall level the actuary also needs to design a rating segmentation structure. The insurance company must understand which policies are more and which are less likely to generate claims. The price of insurance should reflect these differences.

Suggested Citation

  • Jan Iwanik, 2011. "Property and casualty insurance pricing with GLMs," Springer Books, in: Pavel Cizek & Wolfgang Karl Härdle & Rafał Weron (ed.), Statistical Tools for Finance and Insurance, chapter 11, pages 349-370, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-18062-0_11
    DOI: 10.1007/978-3-642-18062-0_11
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