Book contents
- Frontmatter
- Contents
- Preface to first edition
- Preface to second edition
- 1 Introduction and mathematical preliminaries
- 2 Elementary probability
- 3 Random variables and their distributions
- 4 Location and dispersion
- 5 Statistical distributions useful in general insurance work
- 6 Inferences from general insurance data
- 7 The risk premium
- 8 Experience rating
- 9 Simulation
- 10 Estimation of outstanding claim provisions
- 11 Elementary risk theory
- References
- Solutions to exercises
- Author index
- Subject index
1 - Introduction and mathematical preliminaries
Published online by Cambridge University Press: 05 June 2012
- Frontmatter
- Contents
- Preface to first edition
- Preface to second edition
- 1 Introduction and mathematical preliminaries
- 2 Elementary probability
- 3 Random variables and their distributions
- 4 Location and dispersion
- 5 Statistical distributions useful in general insurance work
- 6 Inferences from general insurance data
- 7 The risk premium
- 8 Experience rating
- 9 Simulation
- 10 Estimation of outstanding claim provisions
- 11 Elementary risk theory
- References
- Solutions to exercises
- Author index
- Subject index
Summary
Summary. In this chapter we outline some of the topics treated in later chapters. We then review a number of basic mathematical results required from time to time in the theoretical development of subsequent chapters: summation notation; factorial and combinatorial notation; power notation; differentiation to find the slope of a curve; maxima and minima; and the exponential and natural logarithmic functions. It must be emphasised, however, that the reader does not have to have a detailed knowledge of these results to be able to appreciate the statistical theory of insurance as described in the remainder of this book.
Introduction
The title of this book is Introductory statistics with applications in general insurance. It is introductory in the sense that it presents fundamental statistical ideas and explains their application in general insurance. It does not give the last word on any of the topics treated, but leaves it to the reader to pursue in depth, through the references given at the end of each section, those matters which interest him or her most.
The early chapters form a general introduction to the study of probability and statistics. A chapter on statistical distributions, useful in general insurance, follows and thereafter the emphasis is on applications – inferences from general insurance data; exposure and the estimation of claim frequency rates; calculation of risk premium and risk premium for excess of loss reinsurance; experience rating and credibility; no claim discount systems; simulation of general insurance problems; methods for estimating outstanding claim provisions; risk theory and its application to retention levels.
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- Information
- Publisher: Cambridge University PressPrint publication year: 1999