Prediction region for average claim occurrence rate and average claim size in motor insurance

Text Mining for Insurance Claim Cost Prediction

The Institute Council wishes it to be understood that opinions put forward herein are not necessarily those of the Institute and the Council is not responsible for those opinions. Abstract. The paper presents the findings of an industry-based study in the utility of text mining. The purpose of the study was to evaluate the impact of textual information in claims cost prediction. The industrial ...

Spatial modelling of claim frequency and claim size in non-life insurance

In this paper models for claim frequency and average claim size in non-life insurance are considered. Both covariates and spatial random effects are included allowing the modelling of a spatial dependency pattern. We assume a Poisson model for the number of claims, while claim size is modelled using a Gamma distribution. However, in contrast to the usual compound Poisson model, we allow for dep...

AIDS-related insurance claim experience.

Fuzzy claim reserving in non-life insurance

This paper develops several expressions to quantify claim provisions to account in financial statements of a non-life insurance company under the hypothesis of a fuzzy environment. Concretely, by applying the expected value of a fuzzy number and the more general concept of value of a fuzzy number to the ANOVA claim predicting model [2] we estimate claim reserves to account in insurer’s balance ...

The Regulation of Insurance Claim Practices

Insurance claim practices determine the extent to which insurers will or will not honor their promises. This Article describes the failure in the market for claim practices, the failure of the regulatory responses to that failure, and the ways in which litigation can provide a partial corrective. The Article explains why the market fails to guarantee fair claim practices, how market forces migh...