Predictive Modeling Applications in Actuarial Science

Volume 2, Case Studies in Insurance

By: Edward W. Frees (Editor), Glenn Meyers (Editor), Richard A. Derrig (Editor)

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Hardcover | 27 July 2016

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Hardcover
336 Pages

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24.41 x 16.99 x 1.91

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Predictive modeling uses data to forecast future events. It exploits relationships between explanatory variables and the predicted variables from past occurrences to predict future outcomes. Forecasting financial events is a core skill that actuaries routinely apply in insurance and other risk-management applications. Predictive Modeling Applications in Actuarial Science emphasizes life-long learning by developing tools in an insurance context, providing the relevant actuarial applications, and introducing advanced statistical techniques that can be used to gain a competitive advantage in situations with complex data. Volume 2 examines applications of predictive modeling. Where Volume 1 developed the foundations of predictive modeling, Volume 2 explores practical uses for techniques, focusing on especially on property and casualty insurance. Readers are exposed to a variety of techniques in concrete, real-life contexts that demonstrate their value, and the overall value of predictive modeling, for seasoned practicing analysts as well as those just starting out.

Industry Reviews

Praise for Volume 1: 'With contributions coming from a wide variety of researchers, professors, and actuaries - including several CAS Fellows - it's clear that this book will be valuable for any actuary whose main concern is using predictive modeling in his or her own work.' David Zornek, Actuarial Review

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