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  3. Predictive Modeling Applications in Actuarial Science
  • Cited by 60
Publisher:
Cambridge University Press
Online publication date:
August 2014
Print publication year:
2014
Online ISBN:
9781139342674
DOI:
https://doi.org/10.1017/CBO9781139342674
Subjects:
Economics, Statistics for Econometrics, Finance and Insurance, Finance and Accountancy, General Statistics and Probability, Statistics and Probability
Series:
International Series on Actuarial Science
Information

Book description

Predictive modeling involves the use of data to forecast future events. It relies on capturing relationships between explanatory variables and the predicted variables from past occurrences and exploiting this to predict future outcomes. Forecasting future financial events is a core actuarial skill - actuaries routinely apply predictive-modeling techniques in insurance and other risk-management applications. This book is for actuaries and other financial analysts who are developing their expertise in statistics and wish to become familiar with concrete examples of predictive modeling. The book also addresses the needs of more seasoned practising analysts who would like an overview of advanced statistical topics that are particularly relevant in actuarial practice. Predictive Modeling Applications in Actuarial Science emphasizes lifelong learning by developing tools in an insurance context, providing the relevant actuarial applications, and introducing advanced statistical techniques that can be used by analysts to gain a competitive advantage in situations with complex data.

Reviews

'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 P and C actuary whose main concern is using predictive modeling in his or her own work.'

David Zornek Source: Actuarial Review

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