EKSAKTA: Journal of Sciences and Data Analysis
VOLUME 17, ISSUE 1, February 2017

Premium Pricing of Liability Insurance Using Random Sum Model

Mujiati Dwi Kartikasari (Program Studi Statistika, Universitas Islam Indonesia, Jalan Kaliurang Km 14,5 Sleman, Yogyakarta)

Article Info

Publish Date
01 Mar 2017

Abstract

Premium pricing is one of important activities in insurance. Nonlife insurance premium is calculated from expected value of historical data claims. The historical data claims are collected so that it forms a sum of independent random number which is called random sum. In premium pricing using random sum, claim frequency distribution and claim severity distribution are combined. The combination of these distributions is called compound distribution. By using liability claim insurance data, we analyze premium pricing using random sum model based on compound distribution

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Journal Info
EKSAKTA: Journal of Sciences and Data Analysis
Website

Abbrev

eksakta

Publisher

Universitas Islam Indonesia

Subject

Chemical Engineering, Chemistry & Bioengineering Chemistry Earth & Planetary Sciences Materials Science & Nanotechnology

Description

Ekstakta is an interdisciplinary journal with the scope of mathematics and natural sciences that is published by Fakultas MIPA Universitas Islam Indonesia. All submitted papers should describe original, innovatory research, and modelling research indicating their basic idea for potential ...