Statistical and Probabilistic Methods in Actuarial Science

Covering many of the diverse methods in applied probability and statistics, this book builds on readers' existing knowledge of probability and statistics by establishing a solid and thorough understanding of these methods. It also emphasizes the wide variety of practical situations in insurance and actuarial science where these techniques may be used. The applications to general insurance include loss distributions and collective risk models, reserving and experience rating, credibility estimation, and security measures of risk. The book examines generalized linear models, credibility theory, game theory, and simulation techniques and contains numerous worked examples and problems.