International Journal of Mathematics, Statistics, and Computing
Vol. 2 No. 4 (2024): International Journal of Mathematics, Statistics, and Computing

Pure Premium Modeling for Property Fire Insurance Using Monte Carlo Method

Putri, Linda Damayanti (Unknown)
Firdaus, Muhammad Rayhan (Unknown)

Article Info

Publish Date
03 Nov 2024

Abstract

Modeling pure premium of property fire insurance is an important aspect for insurance companies in managing risk. This article discusses the Monte Carlo method in modeling pure premium of property fire insurance. The Monte Carlo method is used to simulate various scenarios and loss factors due to property fire. Monte Carlo simulation offers an effective approach to modeling property fire risk. The results of this study are expected to provide an overview of the modeling of pure premium of property fire insurance and assist insurance companies in decision making and determining optimal premium prices.

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Journal Info
International Journal of Mathematics, Statistics, and Computing
Website

Abbrev

ijmsc

Publisher

Communication in Research and Publication

Subject

Computer Science & IT Mathematics

Description

International Journal of Mathematics, Statistics, and Computing (IJMSC) is an official journal of the Communication in Research and Publications (CRP) and publishes original research papers that cover the theory, practice, history, methodology or models of Mathematics, Statistics, and Computing ...