Classification Ratemaking - GLM
Classification Ratemaking - GLM
計算Premium
Model Comparison(模型比較)
Model Validation(模型驗證)
計算Premium
Model Comparison(模型比較)
Model Validation(模型驗證)
Experience rating: p=mod * bp. mod 大於1 叫debit mod，小於1 叫credit mod
schedule rating 這個看起來是一種調基本費率的方式，每一個factor 加減比率，最後合計調整的比率
Split loss plan: 就是會把loss 分段，同一個保單的loss 會被切割。
X is a unlimited claim-size random variable and 𝑎 is an underlying limit. 𝑋a is defined only for 𝑿 > 𝒂. It represents the excess of 𝑿 over 𝒂. (as the variable 𝑋 truncated from below and shifted by 𝒂.)
名詞定義:
Loss Elimination Ratio (or LER): is defined as the percentage of losses eliminated due to a specific deductible. The excess ratio defined on is equal to l-LER.
The loss conversion factor(LCF): is a variable that is used in retrospecting rating. When an insurance company adjusts premiums based on losses incurred, loss conversion factors are added to losses incurred to get a better understanding of the exact amount of money they lose with a particular policy
Credibility
https://en.wikipedia.org/wiki/Law_of_total_variance
Total Variance = EVPV + VHM
E[Var(X |Θ)] is the expected value of the process variance (EVPV)
Var[E(X |Θ)] is the variance of the hypothetical means (VHM)